View more on these topics

Artemis aims for VCT dash

Noble & Company is promoting a small top-up share issue of up to £1.9m for the Artemis Alternative investment market (Aim) VCT.

This VCT was established in February 2001 and aims for income and growth by investing mainly in Aim companies that operate in different industries. A small part of the portfolio may consist of companies listed on Ofex or unquoted companies.

As always, the money raised will initially be invested in five Artemis unit trusts &#45 UK smaller companies, UK growth, income, new enterprises and UK special situations &#45 while suitable investment opportunities are being found. It is intended that Aim companies will eventually make up 75 per cent of the portfolio, with 25 per cent invested in Ofex and companies that are seeking a flotation.

The lead fund managers of the VCT are John Dodd and Lindsay Whitelaw who broke away from Ivory & Sime to form Artemis in 1997. Dodd previously worked for LAS Investment Management, Gartmore and Ivory & Sime. Whitelaw has worked for 3i and Ivory & Sime.

This is a well-established VCT with an experienced investment team and this may work in its favour. Poor stockmarket performance in recent years has meant, investors have had few capital gains to shelter.
However, following this year&#39s budget, whcih increased income tax relief to 40 per cent for the next two years, higher-rate taxpayers may be making a dash for VCTs. They may also be prompted to take advantage of the capital gains tax relief now before it is withdrawn after April 6, 2004..

In addition, the Chancellor has doubled the annual investment limits for individuals to £200,000 from £100,000 which could enhance the appeal of VCTs like this.

Recommended

Clerical Medical offers new fund range of fund collections

Clerical Medical is introducing a new range of fund collections graded to risk – defensive, cautious and balanced – available from March 2004. The collections are made up of funds from Insight Investment, Clerical Medical&#39s in-house fund manager, and from its external fund managers UBS, Newtons and Schroders.Retail funds marketing manager Amanda Pitt says: “We […]

Keydata Investment Services – Innovative Growth Plan

Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £3,000-no maximum, Isa £7,000 Term: Six years Guarantee: Original capital returned in full regardless of performance of index Return: Up to 80% growth if index rises, up to 30% growth if index falls Closing date: April 23, 2004, […]

Clerical speeds commission to help IFAs develop business

Clerical Medical is to offer IFAs the option to take initial and future renewal commission within 24 hours of claiming the cash to develop their businesses as part of a boost to its adviser service. The commission accelerator scheme allows intermediaries to get up to 80 per cent of outstanding initial commission and 50 per […]

Howard knocks Brown&#39s &#39borrow now, tax later&#39 Budget

lTechnical Connection&#39s Tony Wickenden (below) and Money Marketing have teamed up to bring you an introductory free instant analysis of the Budget via our new Techlearn service. An online audio-visual lecture from Technical Connection will summarise the Budget for you and your clients. The innovative Techlearn technology enables us to deliver the lecture to you […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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 advice.

    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

    Email: customerservices@moneymarketing.com