Jersey-based Garland Asset Management, owned by former Goldman Sachs equities trader Janine Daines, ...
Jersey-based Garland Asset Management, owned by former Goldman Sachs equities trader Janine Daines, has launched a UK Residential Growth fund.
It has been positioned to provide institutions and experienced investors with controlled exposure to UK residential property.
Daines said the fund, which aims to generate a minimum of 10% growth per annum, can also be used in various tax planning wrappers including offshore portfolio bonds and Sipps.
She said: "The fund's ability to purchase housing competitively, in what is a steadily rising market, can significantly add to front-end value. Our purchase criteria focuses on existing housing falling below the initial stamp duty threshold of £125,001 in areas we predict will benefit from the ripple effect generated by other local reinvestment and regeneration plans."
The Oeic fund's initial offering will close in June with a target launch size of £80m. It is administered by Kleinwort Benson and regulated by the Jersey Financial Services Commission.
Garland launches UK Residential Growth fund
Predicted growth of 10% pa
Fund is Jersey domiciled
Developed by industry-wide group
Joined in 2002
'Educate clients' children'
Raised £15m earlier this week
From 8pm Friday 19 October