M&G Property Portfolio (GB00B8G9TT83), an IC Top 100 fund, has changed its legal structure, which means investors may be able to hold the fund in a more tax-efficient way. The fund, which invests in a diversified portfolio of commercial property mainly in the UK, has converted from a unit trust into a Property Authorised Investment Fund (PAIF). It is the first property fund easily available to private investors to do this, even though the legislation has been in place since 2008.
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