Best International Group has announced a £3.3m windfall to its fund investors.
The Cheshire-based wealth management specialists have seen shares in their specialist and innovative property fund Saker rise significantly since its launch in 2010.
The £3.3m payout to shareholders in the Saker fund, which targets the UAE property market, is in addition to the £5.2m of returns paid to private clients this year.
Best International Group’s specialist property fund, Saker (a sub fund of Falcon Investment SICAV Plc.) was the first in the collection of property funds to be successfully delivered by the Best International Group, one of the UK’s leading asset and wealth management organisations.
The remainder of the company’s fund portfolio including, Lanner 1 and 2, Merlin and the newly launched German Adler have continued to thrive, with an additional two funds to be introduced in the New Year.
Brad Lincoln CEO of Best International Group said: “The redemption of the Saker Fund is a major boost for investors and existing shareholders, which marks one of the many milestones for the business.
“Over the past three years the Group has significantly developed, with the company now operating five funds and a further two likely to open in the New Year.
“Best Funds is a division of Best Asset Management which has significantly grown and expanded over the past 5 years.
“We remain focused on this part of the business and continue to develop and expand out portfolio. Since acquiring Greyfriars Asset Management in 2012, which provides private clients with wealth management services, Best Funds are now held on the Greyfriars Discretionary Fund Management (DFM) platform, which provides a greater number of efficiencies and administrative benefits to shareholders.”
Best International Group invested monies via international wrappers as part of an overall finance strategy, which incorporated shares of £2.1m in the Saker Fund as part of the investment in 2010 – resulting in £3.3m returns for investors this year, a significant increase on the shareholders original investment.
The redemption process was completed last month, which saw investors benefit from a significant rise in their share price. Property sales can differ in time and therefore the monies received are distributed in tranches.
Fund administrators, Heritage International validated the payments and the second tranche of the redemption monies were distribution on August 18th. Heritage International continues to keep investors up to date with announcements released on the Channel Islands Securities Exchange (CISE).
Investors purchased shares at various values therefore each investor has benefited from a different gain, however the overall share price has risen over the term, producing an attractive gain for investors of the Saker Fund.
The upward trend in redemptions in part has been caused by industry dynamics; increased sophistication and the commercial environment, which have all contributed to the increase in redemption activity.
The Saker Fund continues to target the UAE property market, acquiring both off-plan and complete, residential and commercial property types within prime locations, to give investors maximum diversification via its tax-efficient, secure structure.
Approximately19% of Shareholders opted to redeem, whilst the remaining shareholders remain within the fund to witness the potential full value, realisable in the sale of the properties and hence may achieve a greater NAV share.
This news comes following the Group’s remarkable Q1 and Q2 performance this year. Best International Group now has over £700m assets under management, have launched eight new corporate bonds and paid out over £5.2m worth of returns to private clients, as well as £3.3m to Saker Fund investors.
NOTES TO EDITOR:
Best International Group of Companies: www.bestinternationalgroup.com
The Best International Group of Companies is a leading asset and wealth management group, specialising in a range of products and services. Conceived in 2009 by co-founders Brad Lincoln and Jeff Hankin, the Best International Group of Companies have successfully built key businesses (Greyfriars Asset Management, Best Asset Management, Best Travel Services and Best Onyx) in sectors ranging from Wealth Management, Asset Management, Independent Financial Advice, Funds, Investments, Leisure and Property, Specialist Entrepreneurial Growth Management Services and Travel all under one umbrella.
Best Asset Management: www.bestassetmanagement.com
Part of the Best International Group of Companies, Best Asset Management is a specialist corporate finance and asset management company. Best Asset Management service corporate clients who require advice to secure the capital they need to grow, along with the support to administer relationships with their investors. With access to private wealth, pension funds, institutions and niche investment funds, Best Corporate Asset Management is able to offer a complete finance solution for clients, bringing new capital and investment to support the growth of businesses.
Greyfriars Asset Management LLP: www.greyfriars.co.uk
Part of the Best International Group of Companies, Greyfriars Asset Management (GAM) is a Wealth Management company encompassing three specialist divisions, Discretionary Fund Management, SIPP/SSAS and Independent Financial Advice. Greyfriars service private clients who require a full wealth and asset management service, bringing all the usual wealth, fund and pension management solutions, combined with the creativity and specialist insight that delivers alternative and off-market investment opportunities. With a history build predominantly on trust, Greyfriars’ expertise in the financial services arena spans some 26-years since its inception in 1989. Since that time, Greyfriars has grown and developed their services to become a reputable and leading wealth management specialist in Leicestershire. With a strong reputation in the industry, the company now manages over £700 million in assets, along with a rising client
base. Very few other financial Services organisations in the UK can provide the comprehensive service that is available with Greyfriars Asset Management.
Greyfriars Asset Management LLP are authorised and regulated by the Financial Conduct Authority.
Also part of the Best International Group of Companies:
Best Onyx Group: www.bestonyxgroup.com
Best Onyx is a professional services network for Entrepreneurs and HNW Individuals. Best Onyx help clients build profitable businesses to enjoy lasting results. As a business built by successful Entrepreneurs, for Entrepreneurs, Best Onyx understands what it takes to build a profitable and thriving business.
Best Travel Services: www.besttravelservices.co.uk
As an invitation only, specialist business and leisure travel organisation, Best Travel Services provides only the highest quality service to deliver a first class experience to all travellers. With over 32 years experience in the travel industry and strong connections with leading operators, Best Travel has now acquired several sports teams, house hold names and high profile clients.
Follow us on Twitter at: @BestInternat
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