View more on these topics

Downing&#39s Classic VCT

Downing Corporate Finance has added another venture capital trust to its existing range with the aim of raising £10m.


The Downing Classic VCT is designed to invest predominately in established businesses of a high quality that have a long term track record in their sector with a consistent ability to make profits. According to Downing, two out of three embryonic businesses fail which is why the emphasis is strongly in this area.


The remaining investment, around 30 per cent, is made in fixed income securities. This part of the portfolio will be managed by Cazenove who have experience in this field, currently managing around £1.3bn.


With the attraction of up to 40 per cent capital gains tax deferral, the trust may appeal to those who have a capital gain to invest and who have already used up their Pep and tax-exempt special savings account allowances.

Recommended

OFT launches education campaign to warn of new powers

The Office of Fair Trading is launching an extensive education programme and compliance campaign to help businesses adhere to the Competition Act 1998.In March 2000 new competition law prohibitions come into force giving the OFT new investigation and enforcement powers.Business has 15 months to examine trading practices and train staff to comply with the Act.The […]

Scottish Life appoints two new senior managers

Scottish Life is making two new appointments to its senior executive team.John Wallace will become general manager of customer services and David Hughson general manager of investment.Wallace joined Scottish Life&#39s systems division in 1967 before becoming assistant general manager of administration in 1994.Hughson joined in 1981 and became chief investment manager in 1996.Both appointments are […]

Microsoft imports its professional development conference from the US

Microsoft is importing its Professional Developer Conference from Denver Colorado to Birmingham and is advising IFAs to book early as the US event attracted over 6500.The conference which promises the best bits of the US version takes place on December 4.The one-day event will focus on application development within Windows 2000. Microsoft says the new […]

Friends Prov launches flat load charging GPPs

Friends Provident is launching a group personal pension plan using a level load charging structure.The Series 2 Plan has been designed to produce higher transfer values in the earlier years but lower maturity values compared to its existing plan.IFAs will be able to choose either Series 2 or the existing plan. Both plans offer Friends […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment