BPR Industry Report 2015 - page 33

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ABOUT BLACKFINCH
Blackfinch Investments is an established
UK provider of tax-efficient investment
solutions. Blackfinch’s origins go back
to 1992, giving us more than 20 years’
experience of trading in the UK and now
have in excess of £500 million of assets
under administration and management.
Our philosophy is based on
transparency and simplicity and our
services provide real solutions to real
financial planning challenges faced by
individuals today. The objective of this
service is to mitigate inheritance tax
liabilities after two years by investing
in Business Property Relief (BPR)
qualifying assets. We aim to balance
capital preservation with competitive
returns undertaking activities which are
asset-backed or benefit from secure and
predictable revenue streams.
With our IHT portfolios Blackfinch
currently target two discrete sectors,
set out within a discretionary managed
portfolio: asset backed property
development lending and renewable
energy production. We make these
assets visible to the investor and
structure our fees and charges so that
our interests are aligned.
By allowing the investor greater
participation in the return from the
underlying assets we are able to target
a 7% net return to the investor whilst
maintaining a capital preservation
strategy. Our annual management
charge is deferred and contingent on
reaching the performance hurdle of
4% net to the investor. Our fees and
charges are aligned with the investor:
our asset managers are paid from
our portion of the profit share thereby
allowing the investors a priority return
whilst still enabling them to participate
in an uncapped profit share on any
returns above this level.
THE TEAM AND OUR PRODUCTS
The Investment Committee is made
up of the CEO, Richard Cook, the
Investment Director, Joe MacCarthy, and
sector specialists who are independent
of Blackfinch. Richard has been CEO of
Blackfinch since 2009. Having worked at
a senior operations level within capital
protected investment markets for the
last 10 years, Richard is now an expert
in the asset class and has developed
skills in the taxation, regulation and risk
management of this sector.
Joe MacCarthy joined Blackfinch
in 2013 and is responsible for the
sourcing, structuring and monitoring
of investments across The Blackfinch
portfolios. He is a Chartered Accountant
and has been working with tax
advantaged investments for over
eight years, focussing on investing IHT,
VCT and EIS funds across a variety of
sectors.
The IHT Investment Committee also
has two independent sector specialists
to safeguard the interests of investors.
Andrew Troughton is a RICS surveyor
with two decades of experience
with a particular focus on land and
development valuations. Paul Chivers
has over twenty years’ experience in the
energy and commodity sector, working
for Deutsche Bank and Crédit Agricole
Indosuez with a particular focus on
renewable energy.
The Blackfinch IHT portfolios were
launched in December 2013 and
have grown to £21m funds under
management since inception. In the
12 months March 2014 to March 2015
they returned 7.4% net of all fees and
charges. It is the flagship service in
a stable of tax efficient investments
including a media EIS, a music SEIS
and bespoke arrangements in the
underlying IHT portfolio assets for
corporate entities.
OUR INVESTMENT APPROACH
Our investment philosophy is
focused on IHT mitigation and
capital preservation. We believe
the investments should be in real
trades that an investor can see and
understand. What is more, we think
that the investor should benefit from
participation in the total return of the
underlying investments.
We partner with specialist asset
managers in each sector which are
able to provide specialist expertise and
access to a wide range of opportunities.
These opportunities have to meet our
strict investment criteria with its focus
on capital preservation. Within our
property lending company, developers
undergo a rigorous initial due diligence
process by our sector partner, Wolsey
Securities. Our selection criteria means
that a first charge is always secured
on the property and our Loan to Value
never exceeds 75%. We use our own
oversight company, Origin, to verify and
check every loan. Origin monitors the
performance throughout the term of
the loan to ensure the best outcome for
Blackfinch investors.
Our renewable energy generation
companies are able to offer steady and
predictable returns underpinned by
Feed-in-Tariffs which are guaranteed
by the government and index linked
for the next 20 years. We partner with
Anesco, one of the country’s leading
energy efficiency companies, to provide
specialist technical design, construction
and ongoing support for our projects.
Underpinning this investment
strategy is a first class client services
and intermediary support team
based in both London and Malvern,
Worcestershire. Their approach
embodies the Blackfinch philosophy:
efficient client-focused solutions
delivered in a simple and transparent
way.
“Businesses with excess cash on deposit, facilitated by investment managers, can
lend directly from their balance sheets into BPR qualifying trades, thereby offering
a bespoke opportunity which can suit a company directors’ timescales and appetite
for risk”
Joe MacCarthy, Blackfinch Investments
+44 (0)16 8457 1255
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