View more on these topics

Artemis takes aim again

Artemis Investment Management has introduced the Artemis Aim VCT 2, a venture capital trust aiming for growth and income by investing mainly in companies listed on the Alternative investment market.

Artemis currently has more than 300m invested in Aim companies and has over 1bn in the UK small caps sector. Its first Aim VCT raised 33m in 2001 and a further 9m through a top-up C-share issue the following year.

Despite its Aim bias, the Artemis VCT 2 can also invest in unquoted companies and those which trade on Ofex. It will consist of a portfolio of around 50 qualifying companies, which will make up around 80 per cent of the portfolio. The remainder will be invested in a portfolio of cash, fixed-interest securities and unit trusts managed by Artemis.

The VCT will be managed by Lindsay Whitelaw and John Dodd, two of the founding members of Artemis. They have worked together for the last 10 years and currently manage the existing Artemis Aim VCT.

Whitelaw spent five years at Ivory & Sime Development Capital prior to Artemis and also has four years experience with venture capital group 3i. Dodd runs the UK smaller companies fund and alpha trust for Artemis and previously worked for Ivory & Sime., Gartmore and LAS Investment Management.

Statistics from the London Stock Exchange show that the FTSE Aim index has risen by 10 per cent so far this year while the FTSE All Share index rose by a modest 2.9 per cent over the same period. This explains why the majority of VCTs that were recently established as a result of the improved income-tax incentives focus on Aim.

However, not all Aim companies qualify for VCTs which may lead to many managers chasing the same companies and little variation between the trusts.

Recommended

Yorkshire BS and Accord on business since October 31.

Yorkshire Building Society and Accord Mortgages have been receiving KFIs since Sunday. YBS corporate affairs manager David Holmes says the society has received 100 optional and 15 compulsory KFIs, while Accord has received 38 optional and 29 compulsorty KFIs already.

Standard Life Bank cuts proc fees to pay for regulation

Standard Life Bank is cutting the commission band structure for all mortgage business by 0.02 per cent across all bands. Mortgage trail commission will be removed from new business and trail for both business and personal savings will be phased out and replaced by a flat fee structure for business savings only. The changes are […]

BSA figures show boost for cash Isas

Figures from the Building Societies Association show that not all areas of the Isa market are performing badly. In contrast to last week’s Investment Management Association figures which show net outflow of funds from Isas for the first time since 1999, BSA figures show strong demand for cash-based deposit accounts. The BSA September figures show […]

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]

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