Kames temporarily waives 6.6% subscription cost on Property Income funds

Removes Large Deal Provision

Kames Capital has temporarily waived the Large Deal Provision (LDP) for subscriptions into its property funds on the view movements in the property sector since the EU referendum may present a buying opportunity for investors.

The group has waived the LDP in the Kames Property Income and Kames Property Income Feeder funds with effect from noon on 8 July 2016 until further notice. Kames said the funds are currently priced on a cancellation basis, and in this circumstance, the LDP would normally be applied to subscriptions to mitigate the impact on existing investors of the transaction costs associated with buying properties within the fund. The LDP effectively increases the cost of a subscription by approximately 6.6% of the cancellation price, but the temporary waiver of the LDP means subscriptions into the...