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Friends Ivory & Sime sets £30m target for VCT

Friends Ivory & Sime is looking to raise £30m from the launch of its third Baronsmead venture capi tal trust this month.

The generalist VCT opens on January 15 and will invest in similar unquoted companies to Baronsmead&#39s first and second VCTs. It will also be managed by the same team, including FI&S VCT relations manager Michael Probin and chairman of the British Venture Capital Association David Thorp.

The fund will concentrate on four core sectors – technology, media and telecomms; healthcare; consumer markets and business services. The company is aiming to ach ieve long-term capital growth with the new trust.

Minimum investment for the fund is £3,000. No more than £100,000 can be invested within any one tax year.

The fund has a front-end charge of 5 per cent, with an annual management fee of 2 per cent, rising to 2.5 per cent after 2004. IFA initial commission is 3 per cent. There is no trail commission.

Thorp says: “We can provide investors with a portfolio of investments which is not normally available to private investors.

“We benefit from having a very large number of opportunities to choose from and this enables us to be selective. This, in turn, has provided our investors with good investment returns, which are further enhanced by the five VCT tax reliefs.”


IFAs predict stakeholder will not be a hit with the public

Most IFAs believe stakeholder will not have a major impact on the pension market, according to a survey by George Street Research. It found that 79 per cent of IFAs believe stakeholder will make little or no difference to levels of investment into pensions. The research, which is part of a monthly review of the […]

Legal & General – Buy-To-Let Flexi Variable Discount

Monday, 8th January 2001.Type: Discounted rate flexible buy-to-let mortgage.Discounted term: Three years.Discount: 1 per cent in year one, 0.75 per cent in year two, 0.5 per cent in year three.Payable rate: 6.74 per cent in year one, 6.99 per cent in year two, 7.24 per cent in year three.Minimum loan: £25,001.Maximum loan: Up to 70 […]

Scottish Friendly Assurance with profits bond stays at six per cent

Scottish Friendly Assurance is launching its growth and security with profits bond for 2001 with a bonus rate of 6 per cent, guaranteed until January 2002. This is the same bonus rate which applied to the bond in 2000. With a minimum initial investment of £3,000, single investments over £10,000 in the bond receive an […]

CML predicting steady 6% increase in house prices

The Council of Mortgage Lenders is forecasting a good year for the property market, with the rise in house prices slowing to a steady 6 per cent by the end of this year. The CML thinks this will continue at a similar level until 2003, with average house price rises of 6 per cent next […]

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]


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