New IFISAs to fund mining projects and Monaco property revamps

THE COMPANY behind a new Innovative Finance ISA (IFISA) funding litigation cases has recently launched two other tax wrappers to finance mining projects and Monaco property refurbishments.

The IFISAs have been developed by Rob Rutter, a former Merrill Lynch vice president and experienced fundraiser.

Investors can expect eight per cent returns from all three of the IFISAs.

“I was looking for something interesting to do and wanted to launch products that weren’t already available for the retail investor,” Rutter told Peer2Peer Finance News.

The Just ISA enables individuals to fund the legal costs of individuals bringing cases against banks or companies, in the form of a three- or five-year bond.

Rutter has also been developing Raptor, an IFISA-eligible bond that finances mining projects.

“I’ve been raising money for projects for many years and got approached to raise money for a gold mining deal,” he said.

“We have a team of mining experts working with us.”

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The other product is Azurite, an IFISA-eligible bond which funds property renovations in Monaco.

“A lot of property in Monaco needs TLC,” said Rutter, who lives in the principality.

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The products are all structured in the same way, with a minimum investment of £2,000, and are run by Northern Provident Investments.

All three products have three-year terms, except for the Just ISA which has a five-year option as well.