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Nick Shepherd named chairman of Mayfair’s Property Income Trust for Charities

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Nick Shepherd, formerly managing partner of Drivers Jonas and latterly vice chairman of Deloitte, has been appointed as chairman of the investors’ committee for Mayfair Capital Investment Management’s Property Income Trust for Charities (PITCH).

 
Shepherd (pictured) left Deloitte at the end of May to pursue a number of different interests and has always had an involvement in the charitable sector, advising on property strategy and investment.
 
Shepherd has a continuing role with Christ’s Hospital Foundation, a substantial educational charity, and Drivers Jonas was also involved in PITCH when it was launched some eight years ago.
 
The Property Income Trust for Charities is one of two principal specialist funds designed for charities to invest in property on a pooled basis. The portfolio currently extends to GBP160m of assets with the expectation that it will reach GBP200m by the end of the year.
 
James Thornton, fund director and chief investment officer at Mayfair Capital, says: “We are delighted that Nick has become the committee’s new chairman and we look forward to working with him in the next stage of the fund’s development. With rising bond yields and volatility in equity markets, charities are increasingly moving to property as an attractive source of return. With signs that capital values have now found a floor, returns are expected to comprise more than the income yield and we are projecting a total return for the market of seven to eight per cent in 2014. PITCH is well placed to deliver this performance whilst continuing to distribute a yield of over seven per cent.”
 
Shepherd says: “Throughout my professional career I have advised many charities and trusts on their land and property ownerships, and have a deep understanding of their principal investment drivers.  There are many reasons why charities should look to pooled vehicles like PITCH to achieve their investment objectives at a lower cost and risk profile than by direct ownership of assets.  The investors’ committee is there to represent investors in the fund and to provide the appropriate governance for the fund managers, and I am looking forward to this role.”   

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