TIME Investments, the leading long income property and estate planning firm, has promoted Roger Skeldon to Co-Fund Manager of its Citywire AAA rated TIME:Commercial Freehold fund and TIME:Social Freehold fund, which was launched to financial advisers in October 2018.
Roger has over 15 years’ experience in fund management, finance and commercial property. He has been at TIME Investments for over seven years and has operated as Assistant Fund Manager for TIME:Commercial Freehold and TIME:Social Freehold since their inception. Previously, Roger was an Assistant Director at Close Brothers Group PLC’s asset management division.
Roger will manage the flagship TIME:Commercial Freehold fund alongside Nigel Ashfield, Managing Director of TIME Investments. The open-ended long income property fund targets a quarterly income distribution of 4% p.a plus some capital growth.
The daily-dealt fund which recently won the Property and Real Estate sector award at Investment Week’s Specialist Investment Awards 2018 doubled in size in 2017 and, now in its fifth year, has seen its Assets under Management (AUM) grow to over £180 million. This growth has been driven by investors increasingly looking for an investment providing “ballast” in uncertain times with secure income and low volatility of capital returns – two features offered by long income and demonstrated perfectly over the Brexit vote.
Matthew Hunt at Prospect Wealth said of Roger’s new appointment ‘As a long standing supporter of TIME:Commercial Freehold, I’m pleased to see Roger receiving the recognition he deserves. The fund has delivered inflation-beating returns along with a very low risk profile, so the fund management team at TIME Investments have delivered exactly what they promised’.
Roger will also co-manage the £36 million open-ended social infrastructure fund, TIME:Social Freehold fund which was recently launched to the adviser market. This fund seeks to offer investors consistent income from long underlying rental income streams linked to inflation, whilst creating a positive impact on society.
The daily-dealt fund, which TIME has been running privately for almost 18 months, targets a quarterly income distribution of 4.5% p.a. income return after fees plus some capital growth. The fund invests in a portfolio of social infrastructure with inflation linked long income leases including supported living accommodation (for those with a physical or learning disability), assisted living accommodation (for the elderly) and education facilities such as day care nurseries.
Commenting on Roger’s appointment, Nigel Ashfield said: “I am delighted to announce Roger’s new role as Co-Fund Manager. He is an experienced investment professional with a deep knowledge of long income property who has made a fantastic contribution to our business.”
TIME’s long income funds are structured as Property Authorised Investment Funds (PAIFs) – an Open Ended Investment Company (OEIC) specifically designed for FCA authorised property investments. The tax benefits of a PAIF are similar to those of a Real Estate Investment Trust (REIT) and are not subject to tax on capital gains within the fund. UK investors are taxed as if they invested directly in the underlying assets. The funds also benefit from NURS classification as FCA authorised funds, thereby offering enhanced investor protection.
TIME’s suite of income funds are accessible through direct investment and can additionally be accessed on various platforms. Please note that TIME:Commercial Freehold Feeder Trust share classes I and J will be available on Old Mutual Wealth from 27 December 2018.
The minimum investment for retail investors is £5,000. The funds have an initial fee and an annual management charge of 1%. Investors are able to access TIME:Social Freehold and TIME:Commercial Freehold through ISAs, SIPPs, SSASs and offshore bonds via income or accumulation shares.