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ARTICLE · 21 MAY 2020

Explained: The Professional Investor Fund

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In its Spring 2020 Budget, the government stated that it will ‘undertake a review of the UK's funds regime during 2020.

United KingdomFinance and Banking
Melville Rodrigues
Melville Rodrigues

Melville Rodrigues, Senior Consultant - Fund Services, who is leading the initiative for the Professional Investor Fund (PIF) - a new fund proposal for the UK funds industry - provides an overview of the proposal and outlines his hopes for the next steps of the initiative.

Background

In its Spring 2020 Budget, the government stated that it will 'undertake a review of the UK's funds regime during 2020. This will cover direct and indirect tax, as well as relevant areas of regulation, with a view to considering the case for policy changes'.

Those involved in lobbying for the PIF welcome this statement. We feel there is a gap in the UK's fund offering for professional investors in comparison to that offered by international competitors. In particular, fund management houses looking for a closed-ended or hybrid fund to hold UK real estate investments (which have the attributes of being unlisted, tax transparent and offering tradeable units) are currently

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