Matrix is launching an income and growth VCT 3 and is marketing a packaged share offer for the Foresight 3&4 VCTs which it promotes.The firm is aiming to raise 20m in the new income and growth VCT managed by Mat-rix Private Equity Partners. The VCT will be similar to the original Matrix income and growth VCT which closed in June. The income stream will invest in yield-bearing instruments such as loan stock or preference shares while the capital growth stream will invest in companies where there is clear potential for making a capital gain. Foresight Venture Partners’ packaged share offer for Fore- sight 3&4 VCTs is unusual bec-ause the existing 22m combined portfolios are already mature and yielding profitable exits and Foresight aims to pay annual tax-free dividends from the start. Foresight will invest the offer proceeds into established UK technology firms. Matrix director Bridget Guerin says: “We think this will be a very busy VCT season, with several of the more popular offers closing well before the end of this tax year.” Hargreaves Lansdown inv-estment manager Ben Yearsley says: “Matrix is a very dependable performer with results starting to come through from the earlier pots of money. You can’t argue with Foresight, who have run the best-performing VCT of all time.”
VirtualNet has been locked in a bitter dispute with a former member who is accusing the network of applying unfair charges to lock members in. MacArthur Denton Asset Managers threatened to take legal action against the online network when it was hit with a charge of just under 20,000 on resigning its membership. VirtualNet insists […]
The polarisation of the fund management industry continues unabated. The middle ground is fast being vacated, as houses decide whether to opt for bulk and enjoy the benefits of greater distribution or alternatively follow the boutique route.
Poor Charlie Ansdell at PR agency Polhill. After his great great great great grandad suffered the indignity of featuring as Napoleon’s assistant in last week’s Diary Ansdell has been inundated with anti-French emails. Ansdell insists he is not related to anyone on the French side but his great great great great grandad was Nelson’s assistant […]
InvestmentSpike Hughes is to take on overall responsibility for marketing at Skandia Investment Management. The announcement follows David Orr’s announcement that he will leave the company to join Gartmore. The move means Rob Swan, Henderson’s former head of marketing and research, and Frank Blighe, former head of UK marketing at Threadneedle, will take on increased […]
By Douglas Turnbull, head of Chinese Equities, Neptune The 19th Party Congress is coming up late in 2017. During years of bears waiting for China’s challenges to turn critical, policymakers in Beijing have made meaningful steps to address them, and we believe will continue to do so. Even as growth is slowing, it is rebalancing […]
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Workplace savings and pensions business Punter Southall Aspire is to acquire Oxford-based IFA Focus Oxford as it outlines its ambition to set up a national advice service. The acquisition is part of the firm’s plan to integrate its retail advisory arm and corporate business. Focus Oxford has £200m of assets under management and the deal […]
Several independent boards of Baillie Gifford’s investment trust clients have written to the FCA about concerns with new Priips key information document rules. Baillie Gifford’s concerns relate to disclosure rules for the documents. It says these are based on past performance and could lead to investors being misled. Baillie Gifford compliance and legal partner Graham Laybourn […]
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