BFS property launch

BFS Investments is to launch its split-capital property trust via a placing through Collins Stewart. As first reported in Investment Week, BFS Managed Properties, a closed-ended Guernsey registered trust, aims to offer investors a high level of income and long term capital growth through a portfolio predominantly invested in commercial property. The trust has two classes of shares, zero dividend preference shares with a 10 year life and expected annual capital growth of 9% and ordinary shares with an initial dividend yield of 9.5%pa. The trust is to be managed by BFS Investments and...