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Calculus Capital to launch EIS fund

Calculus Capital has launched an enterprise initiative scheme (EIS) fund to take advantage of changes announced at the Budget earlier this year.

The Calculus Capital EIS Fund 12 will invest in “established, successful companies with significant potential to grow further rather than un-tested start-ups”.

Susan McDonald, chairman of Calculus Capital, says: “Over the past 12 years we have developed and proven our expertise at identifying companies in the unquoted investment universe with the potential to offer higher rewards for relatively low risk.”

She adds: “We’re currently in an investment sweet spot where good companies are still finding it difficult to borrow from banks and so the opportunities we’re being offered now are as exciting as ever.

“The government-blessed tax benefits have never been better either. The reforms make EIS arguably the most tax-efficient investment vehicle available.”

The first closure date for the Calculus Capital EIS Fund 12 is December 16 and will be capped at £15m. Minimum investment for the fund is £30,000, it carries a 2% initial charge, or up to 5% with adviser commission, and an annual charge of 1.5%. It also has administration costs and an “EIS industry standard performance fee”.

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