Pointon York raises capital to target corporate SIPPs

Pointon York has begun raising capital to break into the corporate SIPP market, it confirmed this morning.

The SIPP provider plans to raise up to £1.75m from strategic investors to fund an ‘aggressive' growth plan.

Pointon York will soon launch its Corporate SIPP to target companies looking for an alternative to traditional pension schemes, and will use the capital to drive growth in this area.

It also plans to grow its existing premium SIPP business, and provide further investment in its people and technology.

The firm hopes to raise at least £1.25m, with a target of £1.75m. Only professional investors may apply, and can obtain 10 units in the offer for a minimum investment of £5,000.

Geoffrey Pointon, chairman and chief executive of Pointon York, says: "Pointon York has built its business on very strong foundations and 2010 is the year to deliver its aggressive growth plans and maximise our long-term profitability.

"The SIPP industry has experienced double digit growth in recent years and the future growth of the SIPP industry has been widely reported in the news. We firmly believe that the outlook for the premium SIPP market is very strong."