New real estate mandate for Capita Financial
12 August 2013 London
Image: Shutterstock
Capita Financial Group has been appointed as the fund administrator and transfer agent for AEW UK, a real estate investment manager.
The new mandate follows the recent conversion of the AEW UK core property fund to a property authorised investment fund (PAIF).
The conversion from an existing exempt unauthorised unit trust to a master feeder dual-priced PAIF involved establishing a new authorised unit trust, followed by a new open-ended investment company.
The tax efficient UK fund structure—authorised by the Financial Conduct Authority—seeks to open the fund out to a broader investor base, to include UK and overseas professional investors for the first time.
Capita Financial Group director, Rachel Short, said: “Capita specialist fund services arm is one of the only administrators able to provide the fund accounting and transfer agency to support PAIFs and with in-house tax experts and specialist real estate experience are able to offer a complete support service to PAIF managers.”
“We have invested in our systems in order to meet the various nuances that arise from operationally supporting PAIFs such as separating the various streams of income.”
The new mandate follows the recent conversion of the AEW UK core property fund to a property authorised investment fund (PAIF).
The conversion from an existing exempt unauthorised unit trust to a master feeder dual-priced PAIF involved establishing a new authorised unit trust, followed by a new open-ended investment company.
The tax efficient UK fund structure—authorised by the Financial Conduct Authority—seeks to open the fund out to a broader investor base, to include UK and overseas professional investors for the first time.
Capita Financial Group director, Rachel Short, said: “Capita specialist fund services arm is one of the only administrators able to provide the fund accounting and transfer agency to support PAIFs and with in-house tax experts and specialist real estate experience are able to offer a complete support service to PAIF managers.”
“We have invested in our systems in order to meet the various nuances that arise from operationally supporting PAIFs such as separating the various streams of income.”
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