Schroders to convert Serput into Jersey based unit trust

Schroder Investment Management is to convert the Schroder Emerging Retail Property Unit Trust (Serpu...

Schroder Investment Management is to convert the Schroder Emerging Retail Property Unit Trust (Serput) into a Jersey based unit trust, subject to regulatory approval. The £70m fund presently has unauthorised unit trust status and is available only to pension scheme and charity fund investors. Moving the fund offshore will allow Schroder's to market the fund to the retail market, without jeopardising existing investors' current tax-efficient status. As the name would suggest Serput is a specialist retail fund which looks for opportunities to buy the freeholds to retail properties in ar...