Braemar wins PLC instruction
13 August 2012 08:26
Comments (1)
Hale-based Braemar Estates has been appointed as property manager and adviser, to manage the a newly formed ground rents portfolio registered in the Channel Islands.
Ground Rents Income Fund is a closed-ended portfolio which began trading on the Channel Islands Stock Exchange on Monday and is expected to be capitalised at around £50m.
Braemar Estates, part of the Brooks Macdonald Group, has £865m of real estate assets under management.
This release is a farce, the portfolio Braemar have "won" the instruction on is already managed by them and controlled by their parent company! The portfolio appears to have been transferred into a new structure as it was generating very low returns for the investors in its previous format
By Mark Hawthorn, Landmark Investments