Property investors demand more action from platforms on PAIFs

Platforms

Property fund representatives have voiced their impatience at platforms' failure to support tax-efficient Property Authorised Investment Funds (PAIFs) in the face of increasing demand for the products.

While the issue has been a recurring bugbear for property funds, it came to the fore at a September meeting of the Tax Incentivised Savings Association, Investment Week understands. PAIFs have fast become the preferred structure for property portfolios, with many groups converting to the structure from trusts or OEICs. A number of industry figures feel they have worked hard to gain government approval for the tax-efficient structure, according to sources close to the situation. Further PAIF-friendly policies are on the horizon, with groups now pushing platforms to invest in systems wh...