Tiuta has received funding totalling £130 million from asset manager Connaught Asset Management to date.

The Connaught Income Funds Series 1 and 2 are both Unregulated Collective Investment Schemes (UCIS) and lend funds through its specialist partner, Tiuta plc.

Funds within Series 1 finance bridging loans with a target LTV of 75%, while funds within Series 2 finance short and medium-term secured lending with a target LTV of 65%. The current average LTVs in all Income Funds is below 60%.

Since the launch of the Series 1 Income Fund in July 2008, Connaught have funded over 550 loans to the sector.

Alistair Mawdsley, director of Connaught, said: “These funds currently add £130 million to the lending market at a time when funding from more traditional lines continues to be restricted. The Series 1 and 2 Income Funds are complimentary Series 1 focused on onshore investment with Series 2 being specifically designed for the offshore bond