Key Information

Fund Structure

The Property Income Trust for Charities is an Exempt Unauthorised Unit Trust. Provided the Fund's underlying investors are UK exempt or registered charities, properties may be acquired exempt of SDLT, currently payable at 4% on all transactions of £500,000 or more.

Unit Dealing & Pricings

The fund is priced on a bid / offer and x-distribution basis. The Fund's underlying assets are valued on a monthly basis and units may be purchased monthly on the last working day of each month. Redemptions are normally possible on a quarterly basis. Where investors wish to redeem, Mayfair Capital Investment Management Limited offers a secondary market where sellers are matched with buyers when market conditions allow.

Distributions

The Fund makes income distributions quarterly in arrears. Income net of allowable expenses has been taxed within the Fund at the basic rate of tax and investors are treated as if they had received a payment after deduction of tax. As all investors are tax exempt they are able to reclaim the amount withheld from the Inland Revenue.

Minimum Investment

The minimum investment in the Fund is £50,000 and investment is possible in nominee name by investment managers.

Fund Charges

Annual fund fees amount to approximately 0.85% of property assets held. However, to ensure investors benefit from economies of scale, a number of the key appointments contain sliding scale fees. At £100m of assets, the fees would reduce to 0.79% whilst they are expected to be 0.68% at £200m.

Property Valuations

DTZ Debenham Tie Leung Limited is the independent valuer to the Fund. DTZ also carry out valuations for bank lending purposes.