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Stirling Mortimer Property Fund |
Frequently Asked Questions:
 Is
this a regulated product?
What
is the Fund investing into?
Who
can invest into the Fund?
What
is the minimum investment?
What
is a “red book” valuation?
What
is outline planning permission?
What
is the taxation?
Who
else is involved with the Fund?
What
charges apply?
What
is the closing date?
Who
can promote the product?
Q.
Is this a regulated product?
A. The Stirling Mortimer
No 8 Fund; UK Land Ltd is Prospectus Approved
by the FSA in the UK and fully listed on the
Channel Islands Stock Exchange (CISX).
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Q.
What is the Fund investing into?
A. The Fund will buy land
sited within the UK with at least outline planning
permission discounted to current “redbook”
valuation. This land will not be developed as
the intention is to merely trade on at a higher
value either immediately or within the medium
term.
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Q.
Who can invest into the Fund?
A. Investors can be SIPP
or SSAS pension schemes, ISAs, Trusts and individuals
or corporations directly.
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Q.
What is the minimum investment?
A. The minimum investment
is £20,000.
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Q.
What is a “red book” valuation?
A. “red book”
refers to the Royal Institution of Chartered
Surveyors’ guidelines and to the format
in which these reports are presented. The written
report includes a basic description of the property
and its location, along with its market value.
This type of report attracts a liability to
the author.
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Q.
What is outline planning permission?
A. Outline planning permission
gives an official indication that it is possible
to build on a piece of land. It also gives an
indication of what can be built on the site.
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Q.
What is the taxation?
A. The Fund is taxed within
the Channel Islands at 0% but the full Prospectus
explains all the taxation implications of investing
in the Fund and should be referred to.
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Q.
Who else is involved with the Fund?
A.
Taxation advice – KPMG.
Auditing - BDO Novus.
Administration – Heritage International
Fund Managers.
FSA advice – Wragge and Co.
Advocates in Guernsey – Ozannes.
Bankers – RBSI.
Lawyers in UK – BPE, Cheltenham.
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Q.
What charges apply?
A. 0% initial charge, 1.5%
annual management charge.
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Q.
What is the closing date?
A. 20 November 2009 or when
£100 million is raised.
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Q.
Who can promote the product?
A. Any authorised individual
as the Fund has FSA Prospectus approval.
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