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Northern Venture Capital Trust 2 raises £20.8m

Venture capital trust Northern 2 VCT is closing its share issue after raising £20.8m from over 1,200 private investors.

The trust, managed by Northern Venture Managers, will have a generalist theme investing in a range of companies.

It will invest 75 per cent of the capital in later stage deals of up to £3m, but averaging £1m.

The remaining quarter will be used in financing early stage deals of around £500,000 and is likely to include Biotechnology and Information Technology companies.


L&G says Pep investors could be losing out on performance

Millions of Pep investors could be losing out on better performance and cheaper charges according to a survey from Legal & General.They say this is because many Pep investors are oblivious to the fact they can change their Peps manager.The survey reveals 41 per cent of these investors were unaware they could move their Pep […]

Premier launches bespoke portfolio management service

Premier Fund Managers is launching a tailor-made portfolio management service for investors in zero-dividend preference shares of split capital investment trusts.Premier will individually build a portfolio to match their clients investment needs.The bespoke service has a minimum investment of £100,000, there are no initial charges but the annual management charge is 1.25 per cent a […]

Britannia Life fined £500,000 over pensions review

Britannia life has been fined £500,000 by the PIA over the pensions misselling review.The Glasgow based life office received the fine and reprimand from the regulator. It was also ordered to pay £15,000 in PIA costs.The disciplinary action follows a visit by the PIA Pensions Monitoring Department in September 1998 which identified a number of […]

Gross building society lending up for third month

Building society gross mortgage lending grew for the third consecutive month in June according to latest figures from the Building Society Association.Gross advances were up 12 per cent in June to £2,664m from £2,370m compared to the previous month.But approvals – loan applications which have proceeded to the next stage – were down by £129m […]


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