Matrix Securities is hoping to bounce off the success of the Alternative Investment Market with launch of an AIM VCT.
It is hoping to raise £20m for the Singer & Friedlander-managed VCT which opens for investment on March 1.
The FTSE AIM index was up 168 per cent for the year ended January 31, comfortably beating the other major indices. FTSE World Japan is up 64 per cent, FTSE World USA is up 11 per cent while the all-share rose 10 per cent.
The VCT will aim to provide capital growth by primarily investing in stocks listed on Aim, although it will also invest in the unquoted sector if investment potential is identified.
Miminum investment is £5,000 with an annual charge of 1.65 per cent nav. Commission is 2.25 per cnet initial and 0.375 renewal. The closing dates are April 3 for this tax year and May 2 for the 2000/2001 tax year.
Investors can claim up to 20 per cent income tax relief and have the ability to defer up to 40 per cent CGT on chargeable gains.
Matrix Securities chairman David Royds says: “This VCT allows IFAs to take part in this exciting area of the stockmarket.”