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Framlington’s second Aim VCT seeking 35m

Framlington is looking to raise 35m with the launch of its second Aim VCT.

Brian Watson, who runs the firm’s first Aim VCT, which raised 24.6m in 2004/05 after being launched last December, will be lead manager.

Watson will be supported by the UK team, which inclu- des Roger Whiteoak, Nigel Thomas, Richard Peirson and George Luckraft.

Watson has over 27 years investment experience, focusing on smaller companies, and has been investing in Aim companies since the market opened in 1995.

Framlington expects returns will be distributed to shareholders largely through long-term dividends. The closing date for applications is Dec- ember 31.

Watson says: “The fund will search out innovative and entrepreneurial companies with attractive valuations and the potential for long-term capital growth.”

Chelsea Financial Services VCT manager Matthew Woodbridge says: “Framlington had a successful fund-raising earlier this year and I expect the current offer to be just as popular. Due to Framlington’s reputation in the UK investment sector and its extensive network of contacts and regional brokers, we anticipate there will be more than sufficient dealflow for the management to sift through for quality investment opportunities.”


Pru sees 18% fall in intermediary sales

Prudential saw intermedia- ted sales fall by 18 per cent to 502m annual premium equivalent in the third quarter compared with 611m in the second quarter of 2005. But group chief executive Mark Tucker pledged 170m to fund new business acqui- sition in 2007. The insurer still has a 770m war chest from its 1bn […]

Down to basics

In last week’s MM, you reported Which?’s criticisms of the ABI’s consumer guidance on basic advice, specifically their assertion that our guidance does not include sufficient reference to consumers’ right of recourse to the FOS. In fact, the ABI guidance makes it clear that consumers who buy products under basic advice are still protected by […]

Matrix focuses on buy-outs

Matrix Money Management is raising up to 20m for the Matrix income & growth VCT, a venture capital trust focusing on management buy-outs.

IMA calls for common disclosure regime

The IMA says the FSA should adopt a common disclosure regime covering all products available to retail investors, in response to the regulators recent discussion paper on a wider range of retail investment products. While the IMA does not think hedge funds should be marketed directly to the public it says other routes providing diversification […]


DB transfer shouldn’t be all-or-nothing

By Steve Webb, director of policy In my recent discussions with advisers, a hot topic has been the growing number of people interested in transferring their defined benefit pension rights into a defined contribution pension scheme. With many pension schemes offering eye-watering transfer values, this is likely to be an area of increasing interest. Yet […]


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