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Bates makes return with property fund for Sipps

Graham Bates is returning to financial services next month as a fund manager with the first in a range of property funds.

The unregulated vehicle, the Keydata residential property fund, is Bates’ concept and is being launched in late April. Keydata will act as sponsor and promoter with Jones Lang LaSalle as property adviser and KPMG as tax adviser.

Bates says this is the first of a range of funds focused on the Sipp market.

The fund will be managed by Upper Floors Management. Bates is chief executive officer of UFM. The firm will acquire suitable properties.

Bates says: “This will be a limited partnership, which offers investors the potential of a 40 per cent tax break opportunity on a residential investment portfolio through a Government initiative to create affordable rented homes through the conversion of vacant space above commercial premises into flats.”

Minimum investment is 10,000. Commission to advisers is 3 per cent.

Norwich Union distribution director David Barral sees a strong future for IFAs and multi-ties but he believes there needs to be a fundamental shift on commission


Sipp edge: John Lawson

Starting in a year’s time, a significant proportion of the 75 bn-plus buy-to-let market* looks set to move into pensions. But moving ownership of property into a pension wrapper may not be as easy as it sounds.

Hopwood takes over as MD at Assureweb

Assureweb has appointed Nigel Hopwood as managing director.

He will take control of the day-to-day running of the portal from chief executive Charles Bryant who becomes chairman and will take a more hands-off role. Bryant is also commercial director of Sesame.

Neptune launches Japan Institutional Fund

By Chris Taylor, Investment Director, Head of Research Neptune is excited to announce the launch of the Japan Institutional Fund on 22 June, having disclosed to the market in March its intention to offer the product. The Fund will be managed by the highly-regarded Chris Taylor, Head of Research and manager of the long-running Japan Opportunities Fund. It will invest in the same underlying stocks as the Japan […]


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