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Baronsmead VCT 3 closes early

Baronsmead VCT 3 has closed and issued the final tranche of 24m C-shares at 100p a share.

The issue is the first VCT in this fiscal year to reach its fund raising target. Since the prospectus was issued in September 2005 F&C, who market the VCT, say it has taken approximately 30 per cent of the market. Baronsmead VCT 4 will now launch a 20m C-share issue in February.

Baronsmead investment manager David Thorp says: “We are delighted to have taken such a significant market share. This follows our experience in fiscal 2004/5 when the first two Baronsmead VCTs were also over-subscribed.”


Straight-through quotes from Axa

Axa is offering a straight-through quote facility for advisers, which links into its fund admin platform.The firm’s onshore bond product now offers a 2 per cent loyalty bonus for investors in year 10 and no surrender penalties.

A matter of principles

The recent article in Money Marketing headlined, FSA pledges plain principles, did make me smile. We have a number of cases in the office where clients have been threatened with disciplinary action, not because they have broken the rules but because they are going against “principles” espoused by the FSA. In some cases, the actions […]

Out of court deal for Ashley Law

Ashley Law has settled out of court in a dispute with a former adviser over commission. The firm sued former IFA Peter Holsey in a bid to reclaim commission. The case was due to go to court this year but the firm reached a settlement with Holsey at the end of December. Managing director Jock […]


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