Services Provided
- Discretionary
- Advisory
Location
- 1 UK Location
Investment
- Investment Manager
- Founded 2004
Pooled Accounts
- Minimum Account £10K
- Assets Under Management £589M
- Number Of Clients 1200
Segregated Accounts
- Minimum Account £50M
- Assets Under Management £75M
- Number Of Clients 1
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. £589m (as at 31.12.23) with c.1,200 charities invested in a portfolio of 48 commercial real estate properties. The Fund retains a charity's stamp duty land tax exemption on all its property purchases (currently 5%) and distributes income to investors monthly. PITCH manages the Fund with an ESG focus and it has formal ethical and environmental policies. PITCH has a market leading track record with strong long term performance that can be viewed via the Charity Intelligence website. Swiss Life Asset Managers UK is part of a pan-European business providing access to real estate and infrastructure across the UK and mainland Europe.
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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 and EU qualifying 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. ESG is built into the management of the Fund and it has adopted formal ethical and environmental policies.Key features
1. An exempt, unauthorised unit trust for all exempt and registered charities in the UK and qualifying EU charities
2. An asset base of diversified commercial property throughout the UK
3. Institutional grade assets comprising a mix of income growth and ‘added value’ opportunities
4. Target property lot sizes £15m to £30m
5. Formal ethical and environmental policies adopted in the Fund
6. Conservative and prudent use of borrowings to enhance the distribution yield
7. Property purchases exempt from SDLT
8. No speculative development
9. Monthly entry, quarterly redemption. Monthly distribution of income without deduction of tax
10. Attractive fee basis with a total expense ratio of 0.69% of gross asset value (as at 31.12.23)