The VCT season has started relatively slowly following the change in the listing rules in July. Since the start of September, about 25m has been raised. I expect this figure to pick up dramatically in the coming months as more VCTs are launched and more column inches are devoted to the subject.This is the last year for the 40 per cent tax rebate, so you will see all and sundry launch in the hope of capitalising. I have nothing against new managers but there are some tried and trusted favourites out there. Nick Ross and his colleagues at Electra are one of my favoured teams. This is their third offering and Electra has a total of just under 60m in VCTs. Ross and his team are seeking established companies that offer good growth potential over three to five years. There will be a split between Aim and unquoted companies, with most being unquoted. Being Electra’s third VCT allows the opportunity for bigger unquoted investments, as this VCT can co-invest alongside the first two. Investors in their first VCT have received dividends of over 8p a share while the NAV has risen by almost 25 per cent. This puts Electra VCT at or near the top of the tables. I have been a strong backer of Ross since I first met him in 2001. I was happy to recommend him last year and this year should not be any different. Electra is seeking 40m. If you are looking for a broadly diversified VCT from a quality manager, Electra Kingsway III VCT may be a good place to start.
The ABI is not speaking for its members and should follow Scottish Widows, Axa and NU by advocating a universal pension and scrap S2P, say the LibDems. LibDem pensions spokesman Lord Oakeshott says the ABI should listen to its members and change its stance on pension reform. The ABI’s current position is that the contracting-out […]
Increasing regulatory issues could add between 500 and 1,000 to the cost of buying a house, according to Council of Mortgage Lenders, in its pre-Budget submission to the Treasury.M-Day is just one of many regulatory initiatives affecting lenders and increasing costs for their customers, says the CML.The new Basel II capital requirements and the proposal […]
Last week was eventful in the world of investment. First, there was the collapse of Refco – hardly a household name but an important player nonetheless.
Norwich Union is reviewing premium rates on term assurance products.Term assurance without guaranteed critical illness premiums have been increased by an average of 0.4 per cent – 24 per cent of premium rates have been reduced, 18 per cent remain unchanged and 58 per cent have been increased.Term assurance with guaranteed critical illness premiums have […]
Holly Cassell, Assistant Manager of the top-performing Neptune UK Mid Cap Fund, discusses the potential near-term impact of Article 50 and the Brexit negotiations that she believes investors should pay most attention to. Read article here Important information Investment risks Neptune funds may have a high historic volatility rating and past performance is not a […]
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Lawyers who represent investors against Berkeley Burke over allegations of mis-sold Sipps estimate more than 1,000 claims could be in the pipeline. The High Court has approved a group litigation order relating to claims against Berkeley Burke Sipp Administration, and those affected have until 23 July 2018 to register to join the group action. It […]
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The FCA continues to engage with the asset management industry on new European regulations as questions remain over how firms should report costs and charges. After over a month since Mifid II and Priips came into force, concerns have been raised on how fund fees, in particular transaction costs, should be calculated under the two […]