Octopus launches secure VCT
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Octopus Investments has launched a new venture capital trust designed to offer a high level of capital security and a clear exit for investors to release capital after five years.
The Octopus secure VCT aims to provide capital security by focusing on investment in companies that have a contractual revenue stream from sound customers or revenue that is generated from highly predictable transactions with a range of customers.
The firm intends to wind up the VCT will upon investor approval and distribute the capital to investors in 2015 with a defined targeted minimum return of 105p after fees and charges.
Individuals can invest between £3,000 and £200,000 per tax year and are eligible for 30 per cent income tax relief.
Managing director Guy Myles says: “We’re so confident in this product, that we’ve made a promise to investors that we will roll up our annual management fees, interest free, and will only be paid these if investors receive the targeted minimum return.”
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