SDLTM24710 - Property Authorised Investment Fund (PAIF): Introduction
A PAIF is an open-ended investment company (OEIC) whose investment portfolio comprises predominantly of real property or shares in UK Real Estate Investment Trusts (UK REITs) and certain other similar entities, and where taxation on the profits of its property investment business lies with its investors.
Further guidance can be found at SDLTM31200.
More information about PAIFs can be found in the Investment Funds Manual at IFM04000