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Insight plans Aim listing for property manager Invista

Insight Investment is to float its property fund management arm on the Alternative Investment Market by the end of the month.

The new company will be called Invista Real Estate Management. Parent com- pany HBOS, which is expected to retain a 55 per cent stake, says the deal will raise 100m which will be used to fund expansion plans.

Invista chief executive Duncan Owen says the company will look to roll out new property funds, with plans for UK residential and European real estate vehicles, under the HBOS and Halifax brand names.

Invista has 8bn of assets under management across 15 property funds but will focus on European and UK residential property initially as only 1bn of its assets are invested in these sectors.

He says the company is listing on Aim to avoid related party issues with FTSE-listed sister company Insight.

Since Owen joined Insight in October 2003, property fund assets under management have doubled.

He says: “Like HBOS, up to now we have been fairly UK-centric and focused on the traditional commercial property market. We believe European property has fantastic growth opportunities and so our funds could now grow very quickly.”

“We may look further afield in due course but will remain a fund manager, not a property company. The big challenge is to evolve to keep on the same trajectory of growth.”


FSA fines firm 56k over PPI sales

Regency Mortgage Corporation has been fined 56,000 by the FSA in the first action the regulator has taken against a firm for sales of payment protection insurance since general insurance regulation was introduced. The firm was fined for breaching treating customers fairly principles and poor compliance procedures.

Complaints down by a third

Complaints to the Pensions Ombudsman from occupational scheme members fell by 30 per cent in 2005/06 compared with figures for the previous year.The annual report shows that the ombudsman received 2,790 new written enquiries to add to 360 brought forward from the previous year, with 2,821 being dealt with during the year.The ombudsman started 937 […]

Bear building

Could we really see a bear market develop in residential property in this country? Such an event is not without precedent. In the early 1990s, house prices fell – in some areas by as much as one-third. The reason for dwelling on this unnerving prospect is that in the US we have seen disappointing sales […]

Pension savings-2015

Pension tax relief: parked (for the moment)

The national news agenda has been dominated by pension issues this month. For those that missed it (and there cannot have been many given that this was the lead story in spoken and written media), the Chancellor announced a decision to make no decision on pension tax relief in his 16 March 2016 Budget speech. To […]


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