The fund will be a Property Authorised Investment Fund for tax purposes at all times. Its objective is to provide a combination of income and growth through investing generally in commercial property. The fund will typically invest at least 80% in a range of UK commercial properties (but this can be as low as 60% where the fund manager deems it to be in the interests of the fund and its shareholders). The fund may invest in all types of commercial property. It may occasionally invest in residential property and may also develop properties. The fund may also invest from time to time in commercial properties in the Isle of Man and the Channel Islands.