Intrinsic sent into the red by £1.7m UCIS liability

In its accounts for 2014, Intrinsic stated that the £1.27m loss it made for 2014, compared with a profit of £673,000 the year before, is due to "a high cost of complaints". The complaints are linked to investments made via clients' self-invested personal pensions (SIPP). The potential exposure is largely to unregulated funds Brandeaux, the suspended student property fund, and the Sustainable Growth Group, a biofuel fund whose directors have been sentenced to a total of 28 years in prison for fraud. In a statement Intrinsic said the majority of these complaints relate to provision f...