Curzon Capital claims its new residential buy-to-let fund, which it is launching through a number of advisers in advance of A-Day next year, is the first of its kind.City Living, initially set at 50m, is aimed at self-invested personal pensions. It will be run in conjunc- tion with Cluttons LLP, which will act as property adviser and manager. KPMG will give tax advice. Sipp subscriptions up to an initial 25m will be geared up with an initial borrowing facility of 25m for the Guernsey-based Oeic, which is listed on the Channel Islands Stock Exchange. Minimum investment is 20,000 which buys property exposure of 40,000. The closing date is November 18. Curzon says bigger Sipps considering direct property purchase after A-day can use City Living to gain geared exposure to residential buy to let while the investor researches the property market. City Living will invest in stylish, reasonably priced apartments in major cities. It aims to build a high-quality diversified portfolio of newly built one and two-bedroom apartments aimed at the urban rental market. The annual charge is1.25 per cent and commission is 3.5 per cent upfront with 10-year trail of 0.5 per cent. Chief executive Christo- pher Derricott says: “City Living is a new and timely investment opportunity for both individual and institutio- nal investors. “It allows individuals to place residential property in their pension funds immediately, ahead of A-Day, giving substantial tax benefits and considerable advantages in terms of diversification and liquidity compared with holding property directly.”
FSA acting director of small firms Stephen Bland has hit back at critics of the treating customers fairly initiative. Speaking at Aifa’s first Leaders of the Industry lunch in London recently, Bland claimed that the fierce criticism levelled at TCF was unfounded. He said that arguments claiming TCF was ill defined, unnecessary and amounts to […]
Whenever a new person walks into a high-profile job, it is always intriguing to see how he or she differs from their predecessor, not just in terms of approach but priorities.
Norwich Union is reviewing premium rates on term assurance products with effect from September 19 2005.The changes to premium rates are as follows:Term assurance without guaranteed critical illness premiums have been reduced by an average of 0.1 per cent – 25 per cent of premium rates have been reduced, 63 per cent remain unchanged and […]
Who pays for long-term care is a delicate subject des- igned to raise the blood pressure of millions of carers and their families, who foot the bill in terms of stress, time and money to look after elderly relatives.
In any relationship that matters, professional or personal, you should be upfront with someone if you think they’re making a decision or doing something they might later regret. Being honest with someone and having their best interests at heart, however hard the message, is key to building trust in any relationship. So how does this […]
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The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
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