View more on these topics

AIC introduces VCT sector classification system

The Association of Investment Companies is introducing a classification system for venture capital trusts which will create six new sub-sectors.

These sectors expand on the current specialist and generalist categories and also distinguish between VCTs according to the three year investment requirement rule.

The AIC says this should enable investors and advisers to differentiate more easily between VCTs.

The sectors are VCT Generalist, VCT AIM Quoted, VCT Specialist: Healthcare & Biotechnology, VCT Specialist: Environmental, VCT Specialist: Media, Leisure and Events and VCT Specialist: Technology.

The new classification system will be published in the monthly AIC Stats booklet from this month and will be included in the AIC’s online statistics.

Association of Investment Companies director general Daniel Godfrey says: ‘‘The AIC is pleased to be playing a key role in the development of the VCT sector and these changes should give investors and advisers alike the appropriate tools to help distinguish between different VCTs.

“In addition to the expanded sector classifications, VCTs will also be divided according to whether they meet the three year investment rule, namely that they must have at least 70 per cent of their investments in qualifying investments, which must be invested within three years of a VCTs’ launch. This will allow investors to distinguish more easily between VCTs that are fully invested and avoid the distortions that VCTs that have not yet met the investment criteria can have on performance averages.’’


Grandfathering plan is rejected

IFAs have criticised calls from SimplyBiz chairman Ken Davy for advisers with three years’ experience to be grandfathered into the professional financial planner category.Davy says grandfathering should be available to individuals who have been advising for at least three years with a good complaint record and who opt to work under the customer-agreed remuneration model.But […]

Thinc acquires Cameron Scott

Thinc Group has acquired Maidstone-based IFA Cameron Scott, bringing 18 advisers into the group. Chief executive John Simmonds says the acquisition illustrates its developing group strategy of attracting “top flight” advisers wanting to become a part of its success. He says: “We have aggressive growth plans and are always looking to build on the Thinc […]

Mott bolsters financials focus

PSigma income guru Bill Mott has raised the exposure to financials in his income fund to 35 per cent, claiming the sector now offers “outstandingly good value”.

Mothers missing out on millions

By Steve Webb, director of policy and external communications The ninth Royal London Policy Paper discusses how thousands of mothers are missing out on state pension rights when they don’t have to Earlier this month we published the ninth Royal London Policy Paper, entitled ‘Mothers Missing out on Millions’. It focuses on the thousands of mothers […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm