View more on these topics

Fourth EIS fund from McDonald Glencross

McDonald Glencross, a company that specialises in EIS funds, has created a fourth fund that invests in a portfolio of 10 unquoted companies.

The McDonald Glencross approved EIS fund 4 aims to provide capital growth and tax benefits to experienced investors. It will invest in a range of unquoted companies at different stages of development, including early stage companies and those that are preparing for a stockmarket flotation. These are likely to be in sectors such as food & beverages, life science, energy and leisure.

The fund will look to invest for three years and then find the best exit strategy for investors, such as a stockmarket flotation. Companies will be selected by the investment management team, which includes Susan McDonald and John Glencross, who founded the company in 1999. The first three EIS funds were established between 2000 and 2002.

McDonald has over 13 years&#39 investment experience at companies including Robert Fleming and Banco Santander. Glencross has over 15 year&#39s experience and previously specialised in mergers & acquisitions, flotations and restructuring as an executive director at UBS.

The team will look for companies with strong management that are already generating revenue. They are interested in real business propositions rather than one-off high fliers and have a preference for companies that are raising money for expansion rather than those at an earlier stage.

This fund offers the diversity that a single EIS investing in one business cannot provide. It is likely to appeal to sophisticated investors who want to add a private equity element to their portfolio to boost return. However, investing in unquoted companies is high risk and this fund could face competition from venture capital trusts which also diversify across unquoted companies. However, EISs allow for capital gains tax to be deferred for longer, which could be more appropriate for some investors.


Serious business

Product providers have another two months to update their critical-illness products to meet the revised ABI statement of best practice. This involves changes to the definitions of cancer and heart attack and allows early-stage prostate cancer to be excluded in response to advancements in medical treatments and screening techniques.The change to the cancer definition is […]

The search for PI

These are trying times for IFAs. The current high-profile debate about the failure of split-capital trusts, the poor performance of pensions and stockmarket investments has contributed to what is fast becoming a national crisis of confidence in the financial services industry. Sadly, by the very nature of our jobs, IFAs are right in the front […]

Industry is top for business lunches

Financial services professionals spend more time having business lunch than any other profession, according to a survey by restaurant chain Pizza Express.The survey found that people in the financial services industry attend business lunches or dinners an average of 45 times a year, narrowly ahead of media workers, who average 42.But despite famous lunchers such […]

Towers of London – Enterprise Investment Scheme

Friday, 21 March 2003 Aim: Growth by investing in the development and production of films Minimum investment: Lump sum £2,000 Opening/closing date: December 17, 2002/April 5, 2003 Charges: Initial up to 6% Commission: Initial 2.5% Tel: 020 7917 9444


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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