Online investment platform SyndicateRoom is giving its members the opportunity to take part in an upcoming IPO for The People’s Trust.
The target for the fund raise is £125mln, with the company looking to list on the London Stock Exchange and the Social Stock Exchange in October 2017.
The People’s Trust has been developed by Daniel Godfrey, the former chief executive of the Investment Association, with the aim “to resist the endemic pressures within the financial world to deliver short-term returns at the cost of long-term potential and to fulfil the purpose of investment – sustainable wealth creation – generating the best possible returns for shareholders.”
The fund is targeting a total return of 7% per annum over 7 years after costs, assuming CPI inflation averages 2%.
Its board, including the chief executive, are to invest over £1.5mln at launch
No performance fees, no bonuses to executives
The People’s Trust will pay no performance fees to Portfolio Managers and no bonuses to executives
In a statement, Daniel Godfrey said: “The People’s Trust is offering a unique and attractive core investment for the long term – and can play a role in the portfolios of the ambitious investors that SyndicateRoom works with, connecting us with an audience we otherwise wouldn’t have been in front of.”
Tom Britton, co-founder of SyndicateRoom said: “The People’s Trust chimes with SyndicateRoom’s own ethos on a number of levels. It focuses on long-term wealth creation, with its seven-year time horizons.
“its model is entirely transparent around cost. And last, but not least, the trust has also allocated a portion for social impact investment. At our core, we’re about working with companies that want to make the world a better place, so there is an ideal fit.”