PAIF

New structure for manager Glover

Threadneedle is to push ahead with plans to convert its UK Property Trust to a more tax-efficient structure.

The government has said it will introduce seeding relief for property authorised investment funds (PAIFs), allowing such funds to launch without incurring stamp duty.

Platforms

Ignis Asset Management has converted its £1.2bn UK Property fund into a Property Authorised Investment Fund (PAIF) in a bid to offer investors a tax-efficient way to access the vehicle.

Kames Capital is expanding its property management team with two new hires after launching its first ever Property Investment Authorised Fund (PAIF) last month.

Kames Capital is set to launch its first Property Authorised Investment Fund (PAIF) on Friday, to be co-managed by David Wise and Alex Walker.

Standard Life Investments (SLI) is converting its £380m UK Property fund into a property-authorised investment fund (PAIF) next month, to give unitholders gross income without having to pay corporation tax.

PROPERTY FUNDS