Multi-billion-pound property investment company Triandra has taken a 50 per cent stake in broker Purely Mortgages.Triandra, an investment vehicle owned by a trust of the powerful Tchenguiz family, has taken the stake in the enlarged share capital of the company for an undisclosed sum. Purely chief executive Mark Chilton says the new funds will be used to double the size of its business and he will now be looking at new distribution opportunities and the scope for parallel lending. This could include secured and unsecured loans but Chilton stresses that it is too early to confirm plans. Triandra is owned by Investec Trust Guernsey as trustees for the Tchenguiz family trust and is managed by Consensus Business Group. The Tchenguiz brothers, Robert and Vincent, are best know for Rotch Property Group, with about 800 properties in its portfolio and over 400bn assets under management. The brothers are reported as having introduced Dodi Al Fayed to Princess Diana. Mortgage Ventures, the original seed investor, retains a 50 per cent interest in Purely. Chilton says: “This is a fantastic opportunity. We are focusing on crystallising our distribution opportunities and in parallel grow our core base of advisers. We are trying to get oursel- ves to up to double our size over the next six months or so.” Hamptons International Mortgages managing director Kevin Duffy says: “If Purely penetrates the low or no-fee end of the market in less than five years, it will be a phenomenal achievement but it cannot be done without big advertising expenditure and scale.”
National Savings & Investments’ brochures for premium bonds and savings products will be available in 50 Tesco stores from today.The pilot stores cover England, Scotland and Wales and will be rolled out across the retail giant’s 450 nationwide stores if the scheme takes off.Brochures available include premium bonds information and information on NS&I capital protected […]
How has the recent Judge case impacted on IHT planning using the private residence?
Investment boutique Scottish Value Managers has hired three managers to rebuild its investment team after a series of defections. Hugh Cuthbert, Hector Kilpatrick and Neil Veitch join from Kempen Capital Management. The firm says it anticipates being up to full strength by the end of year. Cuthbert will run the continental European fund, formerly run […]
Collins Stewart Fund Management
Continental Europe Focus Fund
This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.
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