View more on these topics

Downing puts trust in classic model

Downing Corporate Finance is issuing shares in its Downing Classic VCT3, which will invest in technology and other unquoted companies.

The investment strategy of this venture capital trust is similar to the Downing Classic VCT and Downing Classic VCT2. It will invest 50 per cent in start-ups or developing technologies and 50 per cent in other companies that are listed on the AIM or OFEX to ensure the investment risks are spread.

Companies will be chosen only if they look likely to grow, have a strong management team and have the potential to be floated on the stock exchange or sold within the next three to five years.

The VCT is most suitable for high earners looking for capital growth and who want to take advantage of income tax relief and capital gains deferral allowed under VCT rules. As a more speculative investment it is not suitable for a first-time investor. Investors with a short-term view would also find it unappealing, as they would have to repay the tax relief if their shares were sold in less than three years.

Recommended

Land Rover man for Axa&#39s UK drive

His new role is a specially created position which will allow him to devise brand strategy with the chief executive officers of all Axa UK operations. Hurst will report to Andy Homer, chief executive of Axa Insurance, who co-ordinates brand awareness for Axa Sun Life and health insurance arm PPP Healthcare. At Land Rover, Hurst […]

Pru plans to merge its broker and ScotAm sales teams

Prudential is understood to be seeking PIA app roval to merge its intermediary and Scottish Amicable&#39s sales teams. ScotAm operates as Prudential&#39s IFA division and has a salesforce of about 115. Pru&#39s intermediary salesforce has about 175 staff. ScotAm says the need to drive down distribution costs is responsible for the restructuring and it is […]

NUKI&#39s view

It was the single-premium bonds that swung it. Had IFAs had the good sense to steer clear of these blatantly unc om pe titive products, polarisation might just have survived. But good sense has never been your thing. Instead of avoi ding single-premium bonds with their massive commission and impenetrable char ges, you flogged zillions […]

Global duo from Premier

Premier Portfolio Managers has added two new multi-manager funds to its Luxem burg-based Sicav. The PII global technology fund will be run by four mana gers, including Aberdeen Asset Management technology fund manager John Pullar-Strecker. The other three managers are from Laing & Cruikshank, MacKenzie Financial Cor por ation and MacKenzie Invest ment Managers. Each […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment