What we do

Authorised investment funds

AIFs include authorised unit trusts and open-ended investment companies. In 2004, the government passed legislation that enabled AIFs holding property investments to be eligible investments for ISAs, PEPs and CTFs.

However, we believe the taxation rules for AIFs investing into property should be amended to meet the following key objectives:

to address the fact that tax charges incurred within AIFs make them unattractive to pension and other tax-exempt investors. To such investors, offshore funds are currently more tax-efficient. As a result, retail investors are less able to benefit from the wider investment opportunities and market efficiencies which would be facilitated by introducing an AIF that is attractive to both retail investors and larger, more experienced tax-exempt investors;
to ensure maximum flexibility and efficiency across the UK real estate market by aligning the government's strategic objectives for UK-REITs and AIFs investing in property;
to provide investors and savers with the maximum possible choice by providing the full range of open- and closed-ended funds (in both public and private markets) so that investors can select the investments that most closely match their circumstances and risk/return preferences.