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brandeaux refuses to talk to ifas

2 Aug 13

Beleaguered student accommodation investor Brandeaux is refusing to conduct meetings or hold calls with IFAs while its funds are suspended.

Beleaguered student accommodation investor Brandeaux is refusing to conduct meetings or hold calls with IFAs while its funds are suspended.

The company suspended its entire fund range, including its flagship £1bn Student Accommodation Fund, in July, due to liquidity issues.

Since then it has communicated twice with investors and IFAs through emailed updates, the most recent of which was sent earlier this week.

Within that update Brandeaux said: “During the suspension of the funds we are not able to conduct meetings or engage in telephone conference calls with IFAs.

“We wish to ensure that any information we give is communicated to all shareholders/IFAs and investors simultaneously to ensure equality and timing of information. This will also minimise the risk of misinterpretation of information we disseminate. We will continue to take your queries by email and if appropriate will provide a Q&A in a future Brandeaux update.”

John Kennedy, co-founder of rival student accommodation investment company Coral Portfolio, which recently hit back at some of the claims being made by Brandeaux about the sector, said he would happily help concerned IFAs.

“Coral would be delighted to meet or speak with any interested party unable to currently communicate with Brandeaux,” said Kennedy. “We are fully versed in the current direction of the student accommodation sector and the many opportunities ahead.”

Yesterday International Adviser reported that Brandeaux was “progressing well” with the sale of some properties

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.