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AITC to represent VCT industry

The Association of Investment Trust Companies (AITC) has become the representative trade body for the venture capital trust (VCT) industry from today (August 14th).

Applications for membership to the group were received by 70 VCTs, equating to 78 per cent of the VCT sector by assets, and bring the group’s total member investment companies to 295.

The AITC is also setting up a VCT forum of directors, managers and advisers and a technical committee comprised of legal, tax and accounting specialists to tackle critical issues affecting VCTs.

AITC director general, Daniel Godfrey says: “Our expanded remit is good news for both the industry and for those looking for a central information source for closed ended funds.”

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