BlackRock launches UK’s first tax transparent fund

first_imgThe fund will track performance of the FTSE USA Index, which tracks US large to mid-cap listed stocks.TTF usage is expected to grow, rivalling similar set-ups in other European countries, as well as the use of life funds in the UK.Two London council pension funds recently announced their commitment to form a collective investment fund, using a TTF structure, which will offer reduced investment fees and maintain tax efficiency.On the launch of the TTF, BlackRock head of UK retail said simple, tax-efficient solutions were important given the complexity for investors.“The introduction of this new structure by HM Treasury last year is an important step in the next generation of tax-efficient solutions for UK investors,” he said.“We also welcome the arrival of a level playing field, bringing the UK in line with other European fund centres.” Asset manager BlackRock has launched the UK’s first tax transparent fund (TTF) following on from the government’s decision to mimic the pooled fund structure seen elsewhere.TTFs are collective funds that provide pension funds with a vehicle that avoids additional tax penalties by treating contributors as individual investors, directly owning securities.These funds, officially known as authorised contractual funds (ACFs) in the UK, are currently available in Ireland, Luxembourg, the Netherlands and Germany, which has lead the UK tax authority to implement the funds to attract and retain capital on-shore.Since the legislation passed last year, BlackRock has launched the first fund, which will offer a collective environment for investing in US equities.last_img read more

Wellington police notes: Friday, March 29, 2013

first_imgSaturday, March 30, 2013•2:19 a.m. Officers took a report of a domestic disturbance of known suspects in the 700 block. S. Jefferson, Wellington.•10:35 a.m. Officers took a report of suspicious activity in the 200 block. S. G, Wellington.•9:48 p.m. Scott M. Kinley, 47, Derby, was arrested and charged with disorderly conduct in the 100 block. N. Haslet, Wellington. Wellington Police Notes for Friday, March 29, 2013•5:04 a.m. Officers investigated theft and criminal damage to property in the 1000 block. E. 16th, theft of computer and printer in Wellington. •10 a.m. Adam L. Queen, 20, Wellington was issued a notice to appear charged with allowing two dogs to run at aarge.•10:14 a.m. Officers investigated a theft of a bicycle in the 800 block. E. 9th, Wellington.•10:31 a.m. Officers investigated a theft of money in the 1100 block. N. A, Wellington.•10:50 a.m. Officers took a report of found property of a ring in the 600 block. N. A, Wellington.•11:22 a.m. Officers investigated a theft by an unknown suspect of gasoline in the 1400 block E. 16th, Wellington.•4:52 p.m. Officers investigated a theft of clothing in the 800 block. S. Jefferson, Wellington.•10:38 p.m. Officers investigated criminal damage to property by a known suspect in the 1000 block of Shadylane in Wellington.•10:41 p.m. Officers took a report of a found purse in the 400 block. N. High, Wellington. Sunday, March 31, 2013•6:38 a.m. Terry L. Southard, 37, Wellington was arrested and charged with criminal threat in the 200 block. N. Blaine, Wellington. •3:05 p.m. Officers investigated domestic violence battery and criminal threat of a known suspect in the 1100 block E. Harvey, Wellington.•8:48 p.m. Jerrod M. Portenier, 31, Wellington was arrested, charged and confined with possession of drugs and possession of drug paraphernalia in the 400 block. Circle Drive, Wellington.•8:48 p.m. Jerrod M. Portenier, 31, Wellington was arrested and confined on a Lyon County Bench Warrant.last_img read more