PIMA WELCOMES THE LAUNCH OF PROPERTY INVESTMENT FUNDS AND CALLS ON THE CHANCELLOR TO GIVE THEM ISA STATUS
The Pep and Isa Managers’ Association today welcomed the Chancellor’s decision to support the recommendations of the Barker Review and introduce Property Investment Funds
PIMA has been calling for the Chancellor to widen the opportunities for savers and has asked the Chancellor to support wider investment into property in its Budget submissions since 2002.
PIMA now calls on the Chancellor to include the new funds within the ISA family of investments and intends to contribute to the initial Treasury consultation on the formation of Property Investment Funds set to end in July.
Tony Vine-Lott, Director General of PIMA said: [i]“PIMA estimates that millions of savers are using property to fund their retirement. We are delighted the Chancellor has opened this major investment opportunity with the launch of Property Investment Funds.
We now call on the Chancellor to include the new property funds within the ISA structure to encourage as many as possible to benefit from this important new investment vehicle.”[/i]