Three former senior executives from Close Asset Management have joined forces to launch a new investment management business including two funds.
Three former senior executives from Close Asset Management have joined forces to launch a new investment management business including two funds.
The company, known as Time Investments, is owned by Alpha Real Capital, the co-investing institutional real estate investment manager with £1.5 bn (EUR 2 bn) in assets under management. Time Investments will be led by Nigel Ashfield, previously managing director of Close Brothers’ Property Division, with the support of Steven Oliver and Anthony Buckley, also from Close Brothers’ Property Division.
Time Investments plans to launch new funds, including an addition to its range of inheritance tax mitigation services later this year. The company will initially offer two funds, the Freehold Income Trust (FIT), which has a 19-year track record of delivering inflation beating returns, and Capital Trading Companies (CTC), which offers advisers the opportunity to assist their clients to be eligible for 100% relief from Inheritance Tax (IHT) through Business Property Relief, after a two-year qualifying period.
FIT aims to provide a secure and stable income primarily through acquiring residential freehold ground rents that offer an attractive income stream and capital growth prospects. The £155 mln FIT vehicle has a 19 year track record of inflation beating returns.
CTC is an IHT mitigation service with in excess of £135 mln of participating capital from CTC shareholders.
