The aim is to provide investors with attractive returns, with a level of downside protection, through exposure to two distinct asset classes.
The plan will invest in a portfolio of between 10 and 25 institutional structured products managed by Brewin Dolphin within a VCT tax wrapper. Downing believes that institutional structured products offer potential for attractive returns, particularly in the secondary market.
The target return of 7.15 per cent a year is the equivalent of 10.5 per cent a year gross to a higher-rate taxpayer. There is an early bird offer of 2 per cent extra shares up to February 27, 2009.