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Friends Ivory & Sime

Friends Ivory & Sime has followed up its AiM venture capital trust with the Aim VCT2

The AiM VCT 2 is aiming for long-term capital growth and will invest in around 50 companies listed on the Alternative Investment Market. These companies will be developing UK companies in the technology sector and related areas such as biotechnology, healthcare and business software.

It is a better time to invest in technology compared to earlier in the year, when the bubble burst and the prices of technology stocks were corrected. Friends Ivory & Sime feel technology is still the way forward but will carefully select stocks. Dot.coms that could perish within a few months will be avoided.

However, the sector can be volatile which means the AiM VCT 2 is unsuitable for risk-averse investors. The tax breaks that venture capital trusts offer include deferral of capital gains tax and up to 20 per cent income tax relief if shares are held for at least three years. This makes the Friends Ivory & Sime a suitable investment for higher rate taxpayers and those with a capital gains problem.


MFR to be reformed

The Chancellor of the Exchequer Gordon Brown has announced the reform of the minimum funding requirement for pension funds. The move has been made on the recommendation of fund manager Paul Myners who has been conducting a review of institutional funding. It will be welcomed by the UK corporate pensions which have been struggling to […]

ED & F Man Investment Products – Man-Glenwood Nexus Guaranteed

Friday, 10th November 2000.Type: Offshore bond.Aim: Growth by investing in Man-Glenwood Nexus Guaranteed portfolio.Minimum investment: US$50,000 or Euros 50,000.Place of registration: Bermuda.Investment split: 100 per cent Man-Glenwood Nexus Guaranteed.Isa link: No.Charges: Annual 3 per cent.Commission: Subject to negotiation.Tel: 0041 848801814.

Seam star manager quits for hedge fund

Scottish Equitable Asset Management has lost the star manager of its American assets fund, Neil Smeaton.Smeaton, who has been Seam&#39s head of US equities for four years, is leaving to run a hedge fund. He is one of a raft of senior fund manager to quit top UK investment houses recently and move into the […]

Winterthur weaves website for advisers

Winterthur Life is extending and updating the service it offers to IFAs by launching a new dedicated website.The site, winterthur, gives IFAs a database of Winterthur&#39s pension funds.This features fund prices, perfor mance figures for other fund management groups as well as specific funds and interactive charting.Advisers will have access to a resource library […]

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]


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