The Property Income Trust for Charities

Services Provided

  • Discretionary
  • Advisory

Location

  • 1 UK Location

Investment

  • Investment Manager
  • Founded 2004

Pooled Accounts

  • Minimum Account £10K
  • Assets Under Management £660M
  • Number Of Clients 1350

Segregated Accounts

  • Minimum Account £50M
  • Assets Under Management £0
  • Number Of Clients 0

About The Property Income Trust for Charities

The Property Income Trust for Charities (PITCH), launched in 2004, is managed by Mayfair Capital Investment Management. The Fund is valued at c. £660m (at 30.12.19) and has over 1,300 charities invested in a portfolio of c.55 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. Mayfair Capital is owned by Swiss Life Asset Managers and as part of a pan-European business provides access to real estate across the UK and mainland Europe.

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 c0.65% of gross asset value (at 30.12.19)