Services Provided
- Discretionary
- Advisory
Location
- 1 UK Location
Investment
- Investment Manager
- Founded 2004
Pooled Accounts
- Minimum Account £10K
- Assets Under Management £549M
- Number Of Clients 1000
Segregated Accounts
- Minimum Account £50M
- Assets Under Management £200M
- Number Of Clients 2
About The Property Income Trust for Charities
The Property Income Trust for Charities (PITCH), launched in 2004 and is managed by Swiss Life Asset Managers UK (formerly Mayfair Capital). The Fund is valued at c. £549m (GAV- as at 30.06.24) with c.1,000 charities invested in a portfolio of 44 real estate assets. The Fund retains the charity's stamp duty land tax exemption on all property purchases (currently 5%) and distributes income to investors monthly. PITCH manages the Fund with a strong focus on ESG, alongside formal ethical and environmental policies.
Charities invest in PITCH as part of their wider investment portfolios as the Fund provides:
1. Income- Property is high yielding, relative to other asset classes.
2. Inflation protection - Property offers diversified, inflation-hedged rental growth.
3. Impact - Strong focus on ESG with dedicated decarbonisation and social value strategies.
PITCH has a strong long term performance that can be viewed via the Charity Intelligence website. Swiss Life Asset Managers UK is part of a pan-European asset management business providing access to a range of asset classes, with a focus on real estate, infrastructure and ESG impact strategies.
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Our Philosophy
The Property Income Trust for Charities (PITCH) is a unit trust designed as a pooled property vehicle available to all UK charities. It was established to permit qualifying charities to co-invest in UK property, in a manner that is tax efficient for both income and capital. It also has the advantage of allowing properties to be acquired free of Stamp Duty Land Tax. The Fund aims to deliver a relatively high and sustainable income yield, whilst maintaining capital value. The Fund operates both ethical and environmental policies and seeks to be a socially responsible investor.Key features
1. An exempt unit trust for all UK Charities and Endowments.
2. A portfolio of institutional quality assets, comprising a mix of income growth and ‘added value’ opportunities.
3. Target property lot sizes £15m to £30m.
4. Formal ethical and environmental policies adopted in the Fund.
5. Conservative and prudent use of borrowings to enhance the distribution yield.
6. Property purchases exempt from SDLT.
7. No speculative development.
8. The Fund is open-ended. Units may be acquired monthly and redeemed quarterly. Income is distributed monthly without deduction of tax.
9. Attractive fee basis with a total expense ratio of 0.71% of gross asset value (as at 30.06.24)