The fund will seek to achieve an 8.4% annual return by offering credit to short term lending companies that provides residential property bridging finance loans.
James Allen has been appointed by Walker Crips to create and manage this fund.
Income is generated through interest on capital charged on the loans, and the lending companies source borrowers who are looking short term funding on UK residential property acquisitions or conversions, normally through the auction market.
The fund uses three bridging finance companies, in order to minimize the risk associated in lending and the wealth manager said that it will absorb all operating costs associated with running the fund.
TB Walker Crips Income fund manager James Allen said that fund seeks to generate a predictable and sustainable level of income for investors and some much needed capital to property developers.
"By providing the first ever authorized bridging finance investment fund, we are giving potential investors the product they want with additional safeguards," Allen added.
The company has appointed T Bailey Fund Managers to serve as the authorized corporate director (ACD) and administrator, while the National Westminster Bank will offer depository services.
