Property funds to become Isa qualifying from 2006

BUDGET 2005

the isability of non-ucits funds gives some multi-manager offerings added flexibility

Property unit trusts from Norwich Union, Morley and Scottish Widows may become available through Isas in August this year. Under measures announced in last week's Budget, the Government will extend the qualifying investments within Isas and Child Trust Funds (CTFs) 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. Funds making use of limited redemption rules will not be al...