SIPP investors pile into UCIS despite FSA warnings

Provider Suffolk Life said interest in UCIS, which can be based outside the UK and invest in more exotic areas such as foreign property, has doubled over the past two years. UCIS now represents about 10% of all the investments the provider assesses each month, at an average of ten a week, following HMRC approval. Greg Kingston, head of marketing at Suffolk Life, said: “The only problematic ones are those with little liquidity as we require any investment to be able to be liquidated or freely transferable within 12 months.” However, rival Dentons warned in five years of holding SIPP...