Joint investment fund started

Thu, 12 Jan 2006

Abbey Financial Markets and Capita Financial Managers have joined forces to launch a new investment fund.

The CF Abbey House Price Plus Fund is the first open-ended investment in the UK that contains residential property derivatives.

It is aimed at trustees of self-invested personal pensions (Sipps) and small self-administered schemes (SSASs) over a typical term of between three and five years. The investment fund aims to outperform the Halifax House Price Index after all charges.

The investment offers exposure to the property market in the UK but investors will be immune against the risk associated with direct investment through buying a property .

"Residential property was one of the most talked about investments within the new pension regime," comments Mike Brown, the head of business development at Abbey Financial Markets.

"For Sipp and SSAS members disappointed by the chancellor's recent pre-budget statement, the House Price Plus Fund offers them exposure to the UK housing market without all the associated hassle and cost."

He mentions that investors will be able to avoid problems associated with difficult tenants, as well as void rental periods, maintenance costs, high initial capital outlay and time spent managing the property.

"It also offers lower portfolio management charges than generally associated with traditional physical property funds," Mr Brown concludes.

The minimum investment in the fund is £3,000. An initial charge of three per cent applies, as well as a 1.5 per cent annual management charge.

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