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Pru offshore fund offers 100% property investment

Prudential is launching a Guernsey-domiciled property fund which it says differs from rivals as it invests 100 per cent in property and is available through the International Prudence bond.

The company says the Prudential international M&G property fund gives investors a cost-effective means to gain exposure to the UK commercial property market and brings to 25 the number of fund link options within the International Prudence bond.

The product is designed for investors who will have non-resident status when they are receiving benefits from the bond.

The fund is managed by M&G and run by John Cartwright. Pru is launching the fund on April 26. Commission starts at 5 per cent for all investments made through the International Prudence bond. Minimum initial investment is £20,000.

The fund is a Guernsey-domiciled unit trust which means it can invest 100 per cent in property, unlike UK unit trusts which can only have 80 per cent direct property investment.

The fund is listed on the Channel Islands Stock Exchange, which is recognised by the FSA.

Prudential offshore development manager James Tothill says: “There are very few 100 per cent bricks and mortar funds available offshore which are backed by the experience that Prudential has in the property market. The key point with this product is that property is an excellent portfolio diversifier and this is a cost-effective way to get that exposure.”

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