MPL's Traded Policies fund secures UK distributor status
Boutique fund manager Managing Partners Limited (MPL) last week secured UK distributor status for institutional and retail share classes of its Traded Policies fund.
The new status will allow UK investors to invest in the fund tax efficiently.
MPL said that, with the certified UK distributor status, offshore funds could be "treated like an onshore fund in the hands of a UK investor".
As such, any income element within a fund will be accounted for and distributed as a dividend, the company said.
Jeremy Leach, managing director at MPL, said high earners could avoid paying income tax at up to 50 per cent on profits from their investment in the fund and that returns would be taxed as capital gains and could be offset against capital-gains tax allowances.
"[The status] significantly enhances our existing offering, as it will be a much more tax-efficient investment," he said.
MPL said it applied for distributor status for its Traded Policies fund to meet increasing demand for traded life policies - US-issued whole-of-life policies sold before their maturity date.