Investment Objective

We look to offer Investors the opportunity to invest in one or more BPR qualifying companies, so as to gain 100% IHT exemption after only 2 years. The main aims of the Service are capital preservation, continued availability of funds for the Investor (should their circumstances change) and liquidity (Investors only need to give 3 months notice to withdraw monies for the Service). In addition, we aim to see a 4% p.a. increase in the NAV of the qualifying company or companies.

There are mainly two ways in which the monies we receive are invested: secured bridging finance and secured asset based lending.

Our bridging finance facility normally involves the provision of shortterm, secured lending to purchasers of commercial and residential properties prior to refurbishment or conversion.

Once the work is complete, repayment usually comes via refinancing by a traditional mortgage lender, often from a pre-arranged facility. A first legal charge is taken over the properties concerned as security for the bridging finance.

Our asset based lending facility involves the provision of short to mediumterm secured lending to businesses. Whilst we usually lend against the security of the assets being purchased, we often protect our position further by way of a first legal charge over property or a mortgage debenture. Personal guarantees are often sought from the Directors of the businesses we lend to.

Every transaction is monitored regularly to ensure borrowers are meeting or are on course to meet their repayment terms.

Exit Strategy

As this is intended to help mitigate IHT, there is no planned exit strategy whilst the Investor is alive. Having said that, the Investor can give 3 months notice at any time to withdraw some or all of their investment (subject to a minimum of £5,000). The Service typically holds around 10% of monies in cash to provide a level of liquidity. The short term nature of the bridging finance also adds to that liquidity.

Fund Manager

Seneca Partners Limited

Seneca Partners Ltd was formed in 2010 to provide services for high net worth individuals, entrepreneurs, companies, charities and trusts. It brought together a first class team of finance professionals with over 200 years of combined investment experience, an extensive contact networks and exceptional deal flow. Since inception, Seneca’s capabilities have grown steadily both organically and by selective acquisition resulting in a number of Seneca branded specialist companies.

For further information please visit senecapartners.co.uk

Fund Provider

Seneca Partners Limited

Fees

Initial fee

2% plus VAT

Annual Management Charge

Nil

Performance Fee

Nil

Custodian Fees

Nil

Our costs are charged as an operating expense to the qualifying companies and is capped at 2% p.a. In addition, the qualifying companies will pay a contribution towards the external auditing undertaken by Deloitte: this is capped at 1% p.a.

Kuber Special Arrangements

Kuber investors receive a reduction of 1% on the initial charge - this charge is therefore reduced to 1%.

A custodian charge of 1.44% is payable on investments in this Fund.

The total upfront charge to Kuber investors is therefore 2.64%, paid from investors’ subscription monies before deployment.