Threadneedle moves property fund offshore

Threadneedle Investments has relocated the Sackville Property unit trust from the UK to Jersey, in t...

Threadneedle Investments has relocated the Sackville Property unit trust from the UK to Jersey, in the process converting it to a Jersey unit trust. The fund, to be called the Threadneedle Property Unit Trust, will be open for subscription from 8 April and seek to invest exclusively in commercial property. In its previous incarnation, the fund was an unauthorised exempt unit trust and, as such, was only open to UK pensions and charities. Threadneedle hopes the redomiciling in Jersey will broaden the investor base to include professional portfolio managers and high net worth individuals...