their initial registration with IMRO (now the FSA) PIL has
steadily consolidated its position as one of the UK's leading
companies in establishing and operating property Collective
Investment Schemes (CISs).
More and more of their
investors now include private equity investors, either directly
or through their SIPPs and SSASs. PIL has also launched some
of the largest limited partnerships in the UK, including the
Lend Lease Retail Partnership which was responsible for Bluewater.
Their Board contains a
wealth of talent that spans the various services required
to launch and operate CISs. These cover establishing (pre-launch)
and, operating (post-launch) activities.
Their ability to administer
the post launch phase of our operation enables us to concentrate
in what we are good at - obtaining planning consent.
Once the fund is established,
PIL provide the continuing administration to monitor the conduct
of the business in the investors’ interests. As operator,
they also take on full responsibility for compliance with
all FSMA matters and FSA regulations.
These regulations exist
to protect investors’ interests; they do not affect
the strategic management of the underlying assets. This responsibility
rests with the asset managers.
roles and responsibilities
In particular, they deal
- Administration of the business (as
distinct from management of the business). For example,
carrying out or overseeing the accounting function
- Maintaining the fund’s registers
- Liaising with investors and reporting
3 Whitehall Court
London SW1A 2EL