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Isis technology VCT axed as it falls short of target

Isis technology became the third VCT to be pulled from the market in less than a month on Monday, having raised just £309,000 since it was set up four months ago.

The fund, which had aimed to raise £25m, was one of only two remaining VCTs not to have reached its minimum subscription and should be the last offering to be pulled in this tax year. Teather & Greenwood&#39s Aim VCT has so far raised £900,000 of its £1m minimum and says it is confident it will hit its target within the next few weeks.

Pathway One, a small generalist independent trust, was the first to go this year, withdrawing at the end of January. Gartmore premier VCT followed suit a week later.

The VCT market has raised just over £50m this season from a total target of £300m, with few trusts looking likely to get close to their objectives.

Matrix&#39s Unicorn VCT still dominates the market, with £15m of its £35m target raised.

Isis capital chairman David Thorp believes that VCT managers need to make more of the investment story behind their products rather than only focusing on the tax advant-ages. He says: “We have got to tell people a bit more forcibly that you can do well out of these investments.”


Park Caledonia deal to advise Scottish players

The Scottish Professional Footballers Association has picked IFA Park Caledonia as its recommended provider of financial advice to past and present members.The move will provide Caledonia, which sponsors the Scottish Youth Football Association and the youth international teams, with access to all former and existing professional players in Scotland.SPFA members will also be able to […]

UBS axes Phillips & Drew brand

UBS ditched the 100-year old Phillips & Drew brand from its UK institutional fund management arm this week, in a move to unite its subsidiaries under one global brand. P&D will now be renamed UBS Global Asset Management, with its new retail arm, set for launch in June, to run under the same name.

A change of course

It is now generally accepted that the FSA intends to depolarise the retail financial services market in one form or another.Despite the prevailing caution among the industry, the good news is that, in a market without the constraints of polarisation and the better than best rule, incredible opportunities can open up for advisers.Those who accept […]

Mad decision

Under the new depolarisation proposals by the FSA, how can it be that those advisers who wish to remain independent will not be free to offer their clients the choice between fees or commission while those who are tied will have the “independence” to charge either?Has the whole world gone mad or is it just […]

Show me the money – earnings are central to performance in Europe

Equity markets globally currently remain vulnerable to sharp shifts in sentiment caused by either unexpected or unwelcome outcomes in key upcoming political events (the US and German elections, Brexit and the Italian referendum). These top-down influences, combined with the current low global growth environment, will likely lead to broadly directionless markets, and prolong the current low beta return environment. We do, though, […]


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