View more on these topics

Foresight take on Keydata income VCT mandates

Foresight have been appointed to run Keydata’s income VCTs 1 and 2.

The news follows Monday’s announcement from the FSA that Keydata had been placed in administration but these VCTs were unaffected by the move as they were deemed to be separate legal entities.

In a statement on the London Stock Exchange, the boards of the Keydata VCTs say they selected Foresight as investment manager because of its “directly relevant experience in environmental infrastructure, where it already manages several funds, and more specifically has several investments involved in generating heat and power from biomass plants, the key area where the companies are predominantly invested.”

In recent years Foresight has been awarded three new VCT mandates, all of which have been integrated within their existing VCTs.

The latest additions are the fourth and fifth new VCT new mandates to be awarded to Foresight in less than five years.

Discussions will commence shortly regarding a possible merger of the companies with an existing VCT within the stable of four Foresight VCTs.

This would be subject to the approval of the shareholders of both vehicles and would be likely to be effected by way of a scheme of arrangement under section 110 of the Insolvency Act 1986, which would be outside the remit of the Takeover Code.

According to Hargreaves Lansdown investment manager Ben Yearsley say a merger would ultimately be a good move for investors as it would offer them greater diversification.

He says: “Foresight are a good team and are in the ‘green space’ so it’s a natural fit for them to take over the mandates.”

Recommended

Bright Grey enhances IP plan

Bright Grey has enhanced its income protection plan to include a rehabilitation service provided by Health and Case Management Limited.

Metlife and CFS latest to join Options

Metlife and Co-operative Financial Services are the latest product providers to sign up to the Association of British Insurers’ annuity transfer initiative.

Rise and fall

In the wake of the global economy’s almost complete halt at the end of last year, macroeconomic data is now showing signs of improvement. In recent months, global stock markets posted some of the strongest rallies on record. The consensus view has rapidly shifted to a strong economic recovery and fears over deflation have been cast aside.

Barry O’Dwyer

A career working with statistics seems logical for the son of a maths teacher. Prudential managing director for retail life and pensions Barry O’Dwyer says his father, a maths teacher and headmaster of the local school in County Galway, had him doing sums at a very early age.

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com