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Murray Johnstone sets up third VCT

Glasgow-based fund manager Murray Johnstone is launching a new venture capital trust.

The Murray VCT3 is the fund manager&#39s third venture capital launch since September 1995.

It aims to provide investors with a diversified fund and hopes to offer attractive income tax and capital gains tax breaks.

Murray Johnstone venture capital trust portfolios fund manager John Simpson says: "We have sought to back winners by providing development capital and buyout finance to well-managed, established companies in a range of sectors.

"Our first trust has nearly reached the qualifying minimum investment level of 70 per cent, with 64 per cent already invested across 19 companies."

A second VCT was launched in April this year and fully subscribed at £35m. The formal launch of the third trust is planned for February next year.

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