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Matrix aims for £20m with e-Ventures fund

Matrix Securities is aiming to raise £20m for its ven ture capital trust

investing in e-commerce.

The e-Ventures fund will make investments in fast-growing companies with

products or services that depend on the application of e-business, the

internet or systems supporting the internet.

The VCT has three years to invest 70 per cent of the fund.

Minimum investment is £2,500. Annual charge is 2.25 per cent of net asset

value. Commission is 2.25 per cent initial and 0.375 renewal. The VCT

starts on May 2.

Investors can claim up to 20 per cent income tax relief and can defer up

to 40 per cent capital gains tax on charge able gains.

Chancellor Gordon Brown gave VCT investors a boost in his March Budget by

reducing the minimum holding period for VCT investments qualifying for

income tax relief from five years to three years.

Matrix chairman David Royds says: “We are offering this VCT to give

investors the most tax-efficient vehicle for investing in this area of the

new economy. The fund will have a wide range of potential early stage

e-commerce investments to choose from.”

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