Can the Fund accept in specie transfers?
From the outset, we wanted to be able to help charities that owned only a few direct investment properties gain access to a more diversified and balanced portfolio and reduce the costs of managing these properties by allowing them to transfer their properties into The Charities Property Fund. Even for charities with larger portfolios, in specie transfer is a cost-effective way of investing in the Fund, with the charity usually able to avoid paying a sale fee. However, it has always been of paramount importance to protect the interests of the existing unitholders and not let the Fund become a dumping ground for properties that do not fit the investment strategy.
