Close Brothers extends offer period on property Isa fund

Close Brothers Investment has extended the offer period on its property fund until 10 March 2003. ...

Close Brothers Investment has extended the offer period on its property fund until 10 March 2003. The Close High Income Properties Plc (Chip), must raise at least £30m for it to go ahead. There is an initial fee of 5.75% and upfront commission for intermediaries is 3%. Annual costs are expected to be no more than 2.5% of total assets but will be reduced if necessary, in order to maintain the target dividend. The fund, which is Isable, will invest in an actively managed, diversified portfolio of UK commercial property, with a strong industrial bias. It will have a target yield of 7.75%...