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.
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.
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
Seneca Partners Limited
2% plus VAT
Nil
Nil
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 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.
For further information please do not hesitate to
The scheme is structured as a Discretionary Managed Service and the Information Memorandum can be found at www.senecapartners.co.uk.
Capital preservation and 4% p.a. increase in NAV of qualifying companies
BPR
Secured Asset & Bridging
Each Investor receives shares in the qualifying company or companies.
Each share gives the Investor access to the whole loan portfolio of the qualifying company or companies.
The Nominee: Woodside Nominees Limited
The Custodian: Woodside
Zapisz
An investor qualifies as an High Net Worth investor if they have
(a) An annual income to the value of £100,000 or more;
(b) Net assets to the value of £250,000 or more. Net assets for these purposes do not include:
(i) the property which is their primary residence or any loan secured on that residence;
(ii) any rights under a qualifying contract of insurance within the meaning of the Financial
Services and Markets Act 2000 (Regulated Activities) Order 2001; or
(iii) any benefits (in the form of pensions or otherwise) which are payable on the termination of their service or death or retirement and to which they are or (or their dependants are), or may be, entitled.
An investor qualifies as ar Self-Certified Sophisticated Investor if at least one of the following applies:
a) they are a member of a network or syndicate of business angels and have been so for at least the last six months prior to the date below
b) they have made more than one investment in an unlisted company in the two years prior to the date below
c) they are working, or have worked in the two years prior to the date below, in a professional capacity in the private equity sector, or in the provision of finance for small and medium sized enterprises
d) they are currently, or have been in the two years prior to the date, below a director of a company with an annual turnover of at least £1 million