Those investing through ISAs and SIPPs can benefit from tax free income from up to three different sources, while earning gross income on their holdings. The new structure will be effective next month and according to a spokesperson, something which would have been done sooner were it not for restricted provision of funds of this type by platforms.
The UK Property Trust is headed up by Nigel Chapman and has around £380m under management. It invests in a range of freehold and leasehold properties from across the retail, office, industrial and other sectors.
Retail property currently accounts for the largest proportion of the fund’s capital. 35.9%, and its largest holding is 33 Charlotte Street, London. While the mandate allows for investment in Europe, the fund has no holdings on the continent at the moment.
Its performance over the past year is shown in the graph below.
The move follows that of M&G and Ignis which took similar steps earlier in the year, leaving investors free of the 20% corporation tax applied to returns on the original fund structure.
