Business Lending Group announces fund bonus
By Bridging Loan Directory -
Business Lending Fund Management, the managers for the BLSI Fund, have today announced a ‘first year anniversary bonus’ payment for investors of their fund. The fund, launched in November 2010, has consistently met its quarterly payments of the targeted 9.1% gross annual income by making short and medium term residential development loans to experienced property developers.
Following a highly successful first year, BLG has announced a discretionary first year anniversary bonus equivalent to 0.4% annualized, giving a total gross annual return of 9.5% for the 12 months to the end of October 2011.
Peter Wade, Chairman of BLG, today commented:
“I’m delighted to announce this additional bonus for our investors, which forms part of our strategy of maximizing returns to our investors. The turmoil in the stock and currency markets has made it hard for our IFA partners to generate reliable returns for their investor clients – but not only have we met our 9.1% target, hopefully the additional bonus will be a pleasant surprise for our investors given the troubled times in other investment classes.”
“What’s made this bonus possible is the demand for development finance and the experience of our lending team in choosing good projects to finance. Demand for the underlying loan products remain strong and returns solid despite the housing market showing mixed results. The Fund has only a limited correlation to the housing market and can prosper even in a difficult house price environment. Overall it’s been a good year for both the BLG team and our investors in BLSI. What’s more, at a time when UCIS investments are being scrutinised, it is good to demonstrate how a successful fund operates”
Commenting on the future, Wade said:
“Now we have our fund’s first year behind us, I’m looking at many exciting opportunities to further strengthen our offering and ensure that we don’t just meet our investors’ targets but we continue to exceed them.”