Thirty companies have teamed up with the British Property Federation to help raise public awareness of Reits ahead of their introduction next year.The Reits and Quoted Property Group has 30 members, including the Investment Property Federation, the London Stock Exchange and leading investment banks and consultants including KPMG, Deloitte and Lehman Brothers. Eight quoted property companies, including Land Securities and nine fund firms including Fidelity, Henderson, Insight and the Scottish Widows Investment Partnership have also signed up. The group aims to raise understanding of Reits, which are to be introduced on January 1, 2007, among IFAs and investors. It plans a web-based information service and publicity campaign, to be called Reita. The website will give information on Reits, links to providers and share price data. Group chairman Patrick Sumner says: “Our portal will be the UK’s first non-partisan resource for information on Reits and property investment, providing a definitive reference point.”
Adviser Smith & Williamson has criticised Standard Life’s attempts to plug the SSAS IHT “loophole”. Standard Life has accused Axa of abusing a SSAS loop-hole which enables small businesses to pass on assets tax-free and in theory allows family members to set up schemes to bypass IHT. The Revenue has vowed to clamp down on […]
Lincoln Financial Group is set to convert two of its fettered funds of funds into unfettered vehicles next quarter. The managed and global trusts are currently run by Goldman Sachs Asset Management but will be taken over by multi-manager specialist IMS if unitholders give the green light. The fettered approach was felt to be too […]
Collegiate’s Mark Bates is set to take part in the 2007 Polar Challenge to the magnetic North Pole. The race takes place in April 2007, when Mark and the other competitors will ski 320 miles to the pole pulling their own supplies and handling temperatures between -25 and -45 degrees. Mark aims to raise 10,000 […]
Property funds make up three of the six best-selling funds in the FundsNetwork Sipp. Invesco Perpetual high income was the top seller, with Norwich property trust third, New Star property fourth and Standard Life property sixth.
By Rob Burnett, Neptune European Opportunities Fund
In recent months, investors have become more pessimistic about both the European and the US economic outlook and yet stockmarkets have pushed on to new highs. Some would argue that this is a worrying divergence. We would take the opposite view. This appears to be classic bull market behaviour. A wall of worry has been rebuilt, and stockmarket resilience should be taken as a sign of strength. The market is discounting an improving economic outlook ahead, particularly in the south of Europe.
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