Budget: IMA says fund industry to benefit

The fund management trade organisation said the Chancellor had recognised the importance of working collaboratively with the asset management industry and had introduced a series of measures which would benefit the industry, specifically: The launch of a new tax regime for Property Authorised Investment Funds which will ensure that for non-tax paying investors such as pension funds, charities and ISA investors there will be no tax on rental income paid by the fund. New rules to facilitate the development of "Funds of Alternative Investment Funds" which will enable UK authorised funds t...