The Myners Review of Institutional Investment (a 13-page consultation document issued by the Treasury), has failed to realise the significance of property to institutional investors, according to the BPF and IPF.
Will McKee, BPF chief executive said: “It is a major ommission and failing of the review to not be aware of the property investment in institutional portfolios and asset allocation.”
He said the BPF would use the consultation document to argue that Stamp Duty at 4.5% was an example of one “factor which distorts decision-making by institutional investors”.
Responses to the Treasury document are expected to shape Myners’ report on how to change the way institutional investors allocate their capital in the UK.
Property Week 26/05/00 page 5
