Oaksmore launches IFISA backing British heritage projects
OAKSMORE, an investment manager, has launched an Innovative Finance ISA (IFISA) enabling people to invest in British heritage projects.
Funds invested in the ISA will back the development and restoration of historic buildings which have fallen into disuse and disrepair.
The aim is to transform the buildings back to their best possible state for use, increasing the profitability of the site.
Investors can choose between a two-year property-backed bond targeting a return of five per cent a year, or a five-year bond targeting returns of up to 7.5 per cent a year.
The minimum investment is £1,000.
Tony Norris, chief executive at Oaksmore, said the ISA allows investors to pledge their savings to a cause in which they have a genuine interest.
“With new developments being erected at a vast rate across UK towns and cities, the investments made into the Oaksmore ISA are utilised to maintain British history by bringing back to life much-loved heritage sites across the UK, which have fallen into disuse or disrepair,” he added.
Read more: RateSetter to launch IFISA on Thursday