Mayfair Capital relaunches two funds

Commercial property fund manager Mayfair Capital Investment Management has relaunched two of its funds due to changing structures and mandates.

Mayfair Capital relaunches two funds


The MC Special Opportunities fund has been renamed the MC Property Growth fund No.2 as it is now orientated towards seeking capital growth.

Mayfair’s first Capital Growth fund was launched in 2003 and was wound up in 2007 after returning a net internal rate of return of 16.95% per annum to investors over the fund’s four year life.

This new Property Growth fund has got wider investment powers than its forerunner and is able to invest in quoted securities, indirect vehicles such as unit trusts and joint ventures.

James Thornton, fund manager of the fund formerly-named MC Special Opportunities, said: "Given market conditions it feels right to change the name of the fund as part of its relaunch. The window for picking up distressed opportunities has closed and the fund is orientated towards seeking capital growth.

"It has a flexible mandate so can exploit the full range of Mayfair Capital’s expertise and access to off market buying opportunities."

The fund’s investment objective of returning 10% per annum capital growth (with minimal income distributions) over a three to five year period remains unchanged.

In addition Mayfair Capital has restructured its MC Income Plus fund to an open-ended exempt property unit trust for UK pension investors.

It was previously a closed-ended UK limited partnership with a unit trust feeder fund. Mayfair said the restructuring will allow for greater liquidity, with quarterly entry and redemption points.

This relaunch will mainly target institutional investors, corporate and local authority pension funds and pension funds run by charities as well as Sipps and SASS.  



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