An industry working group that includes the Investment Association (IA), the Charity Investors Group and the Charity Law Association have developed  a new fund structure, the Charity Authorised Investment Fund.

The press release issued by the IA notes that the new fund structure offers certain benefits to charities including:

• a fund structure that is authorised and regulated by the FCA, offering protection for investor charities, the majority of whom would be classed as retail investors; and
• the ability to enjoy certain tax benefits available to charities while benefiting from the management-fee VAT exemption available to FCA authorised funds.

View IA welcomes launch of charity authorised investment fund structure, 12 October 2016