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New VCT gets fit with media

The leisure & media venture capital trust (VCT) is being targeted at investors who are looking for an investment that allows them to defer any capital gains and thus mitigate any capital gains tax.

Leisure & Media will focus on two separate, yet wide, areas of the market. First will be the leisure industry, including the health and fitness sectors, such as health clubs. This will also include the branded pubs and restaurant area.

The second sector of the VCT will invest in areas of the media industry, such as specialist publishing, marketing services, local television and local radio facilities.

Investment management will be handled by London-based specialist investment management company J O Hambro. The investment team will include Christopher Mills, who has spent the past seven years managing the North Atlantic smaller companies investment trust and the American opportunities trust.

The investment team will in turn be advised by the five strong board of directors. These will include former BBC1 controller and chief executive of Channel 4 Michael Grade, and the chief executive of Enterprise Inns, Graham Tuppen.

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