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Buckles adding property fund to Snowdonia range

IFA Buckles Investment Services is planning to add a property fund to its Snowdonia fund-of-funds range in October.

The Snowdonia property fund will be based onshore and will invest on a global basis, primarily in real-estate investment trusts. It will also make direct investments in the shares of property companies and will have a target yield of 5-6 per cent a year.

The fund will be managed by former Aberdeen property fund manager Alex Ross, who recently joined Premier.

By appointing Ross, Buckles is continuing its strategy of outsourcing the management of its funds. Its three existing Snowdonia funds are managed by Premier, Mercater Capital Management and Rensburg Investment Management.

The minimum investment for the property fund will be 1,000 or 50 a month and the charges will be in line with the existing Snowdonia funds of 5 per cent initial and 1.5 per cent annual.

Buckles chief executive Nigel Speirs says: “We think the tax breaks make Reits very attractive. We are launching this fund because investors are still income-hungry and property is a perfect balance for our income fund, which is currently yielding about 4 per cent.”

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