Another SIPP provider suspends overseas property investments

Berkeley Burke SIPP Administration has revealed it has stopped accepting overseas property into its self-invested personal pension (SIPP).

Berkeley Burke said a management decision was taken not to allow overseas property into its SIPP in December of last year. The move became effective on 12 January. Explaining the decision, Brad Kilbane, head of risk and compliance at the provider, said: "The management team considered the risks involved with this type of investment were higher than our appetite would allow in the current environment." The firm joins SIPP provider Dentons in suspending investment in overseas property. Martin Tilley, director of technical services, Dentons, said the provider has not accepted overseas...