Open-ended property vehicles to be eligible for Isas and Peps

Open-ended funds investing in direct property will be eligible for Isas and Peps for the first time ...

Open-ended funds investing in direct property will be eligible for Isas and Peps for the first time from April next year. Originally set out in the budget earlier this year, the Government has issued further consultation on extending the qualifying investments within the wrappers to include all retail collective investment schemes authorised by the FSA. This includes all Ucits and non-Ucits funds, with the latter including property vehicles not previously eligible for the wrapper, provided they do not restrict investors' access to their money. Under the proposals, only funds using l...