Investment documents

* Please note that an exempt trust application form is also available on request by email to questions@alpharealcapital.com.

FIT conversion to an Authorised Fund

Notices regarding the conversion of FIT into a fund authorised by the FSA and approved by HMRC as a tax efficient Property Authorised Investment Fund (PAIF)

Advisers should be aware that FIT has announced that it has sent investors a circular on 4 March 2013 to seek their approval to convert the Trust into an authorised tax efficient PAIF in advance of a Meeting of Unitholders on 26 March 2013. It is expected that the Trust will convert into the authorised fund on 3 April 2013.

The advantages of conversion are as follows:

The fund will no longer be classed a UCIS pre-empting the FSA’s likely implementation of certain restructuring changes to the promotion of UCIS to retail investors;
An anticipated one-off uplift in value associated with the release of the provision for deferred tax (albeit partially offset by new provisions such as the costs of restructuring);
Lower operating costs and reduced tax liability will potentially enhance investment returns;
All existing Unitholders of the Trust, shall be Eligible Investors of the Fund as set out in the “grandfathering” provisions within the FSA Regulations which state that any person who is already a participant in a UCIS shall be an Eligible Investor for a qualified investor scheme or “QIS”;
Strengthened corporate governance through FSA authorisation; and
As a result of the conversion, we anticipate that the Fund would be structured in a way more likely to attract new capital inflows enhancing liquidity for all investors. Increasing the size of the underlying property portfolio shall also deliver an ancillary diversification benefit with associated reduction in risk.

For further information, please review the documentation below and contact us via the details on the Contact Us tab above if you have any questions.

Freehold Income Trust conversion documentation:

Letter to Advisers dated 1 March 2013 regarding the conversion

Letter to Investors dated 1 March 2013 regarding the conversion

Letter to Corporate Actions Teams of Platforms and offshore bonds dated 4 March 2013 regarding the conversion

Circular of FIT regarding the conversion of FIT into a tax efficient, regulated PAIF

Form of Proxy

Transfer Election Form

Half Year Report and accounts for FIT

Further documentation relevant for Freehold Exempt Trust investors:

Letter to Advisers dated 1 March 2013 regarding the conversion

Letter to Investors dated 1 March 2013 regarding the conversion

Circular of FET regarding changes to the FET Trust Deed

Form of Proxy and Voting Instruction

Adviser conference call

In order to provide you with as much information as possible we shall be holding a conference call for Advisers on Thursday, 14th March 2013 at 11am to enable you to ask questions to our Sales and Marketing Director, Simon Housden or the Fund Manager, Nigel Ashfield. Should you wish to participate in the conference call, please dial the freephone number 0800 694 0257 (International +44 (0)1452 555566) and use the conference ID code 16526392 during which we shall be delighted to answer any questions that you may have.