|Bid Price||GBX 83.70||Offer Price||GBX 86.23|
|Mid Price||-||Day Change||GBX +0.85 (1.03%)|
|Price Date||30 Jun 2017||Crown Rating|
|Shares Class||Inc.||Yield||6.27 %|
|Total Expense Ratio||0.78||Fund Size||429,700,000.00|
|Launch Date||01/10/2004||Standard Initial Charge (%)||0.00|
|Annual Management Charge (%)||0.57||Sector||IMA UK Equity Income|
|Min Investment (£)||50,000.00||Total Expense Ratio (%)||0.78|
|ISIN||GB00B0517P11||Min TopUp (£)||10,000.00|
The Property Income Trust for Charities (PITCH) is a unit trust designed as a pooled property vehicle available to all UK Charities and EU Qualifying Charities. It was established to permit qualifying charities to co-invest in UK property in a manner that is tax efficient for both income and capital. It also has the advantage of allowing properties to be acquired free of Stamp Duty Land Tax. The Fund aims to deliver a relatively high and sustainable income yield whilst at least maintaining capital value in real terms over the economic cycle. Income is distributed monthly. The Fund operates both ethical and environmental policies and seeks to be a socially responsible investor.
James is Fund Director for Mayfair Capital’s flagship Fund the ‘Property Income Trust for Charities’, a bespoke Fund for charity investors. Given Mayfair’s commitment to the charity sector, James is a Committee Member of the Charity Investors’ Group which is committed to education for charity trustees and their advisers. He was also elected to the Advisory Board of WELPUT in October 2014. James co-founded Mayfair Capital in 2002 and became Chief Executive in April 2014 having previously performed the role of Chief Investment Officer. James is also Fund Director for two other Mayfair Capital Funds: ‘MC Property Growth Fund No.2’ and ‘MC Residential 1’, an opportunistic Fund which provides preferred equity to developers in central London residential. James has 35 years’ experience in UK commercial property. James spent the first 15 years of his career at Jones Lang Wootton, 11 of which were in its investment management division, JLW Fund Management. In 1996, James joined Savills, where he was appointed Director of Fund Management, responsible for a team of 10 managing some £950 million of client funds on an advisory and discretionary basis. James is approved by the FCA to perform CF1, CF3 and CF30 functions for Mayfair Capital. He is a member of the RICS, the Investment Property Forum, and a Committee Member of the Charity Investors' Group.
Simon joined Mayfair Capital in January 2012 to work closely with James Thornton primarily on The Property Income Trust for Charities, but also MC Property Growth Fund No.2 and Mayfair Capital Residential 1. His role includes the sourcing and analysis of new acquisitions, investor reporting, fund analysis and the marketing of the individual funds. Simon has over 10 years commercial and residential property experience and prior to Mayfair Capital worked at DTZ and Edward Symmons. Simon was elected a Member of the RICS in 2007 and prior to this completed his studies at the University of Newcastle upon Tyne and London South Bank University. Simon is approved by the FCA to perform the CF30 function for Mayfair Capital.