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Octopus Investments in £70m VCT fundraising drive

Octopus Investments is seeking to raise an additional £70m in funds for four of its venture capital trusts through new share offers.

The latest round of fundraising gives existing and new investors the chance to access the Octopus Aim VCT, Octopus Second Aim VCT, Octopus Apollo VCT or the firm’s five Titan VCTs through a linked offer.

The two Aim funds are seeking £10m each, the Apollo fund £20m and the remaining £30m will be split equally between the Titan range.

Octopus currently manages more than £350m of VCT funds. Managing director Paul Latham says: “These VCTs have proven and successful track records of delivering the levels of return and tax benefits we said they would. Our more mature Titan VCTs recently announced they would be paying out £16m in special dividends following the success of a number of investments, in addition to delivering capital growth.”

Charles Stanley head of investment research Ben Yearsley says: “In general the VCT industry seems to be in pretty good shape at the moment. Performance is good, there are quality management teams with good returns and there is more consistency as dividends are being paid.”


Lending to FTBs reaches five-year high in 2012

The number of first-time buyers reached its largest yearly total in five years in 2012, according to the Council of Mortgage Lenders. A total of 216,200 FTBs became homeowners in 2012, the first time the annual total has exceeded 200,000 since 2007 and a 12 per cent year-on-year rise on the 193,000 loans advanced to […]

Warren Buffett’s Berkshire Hathaway buys Heinz for $23bn

Warren Buffett’s Berkshire Hathaway has bought H.J. Heinz Co for $23.2 billion in a deal with private equity firm 3G Capital, according to a report from Reuters. Heinz valued the transaction, which it called the largest in its industry’s history, at $28 billion including debt assumption. Berkshire and 3G will pay $72.50 per share, a […]


Alan Lakey: An enhanced annuity experience to forget

Advisers frequently contend with situations where they ask themselves whether the behaviour of a financial institution is reasonable and measured or whether it extends beyond tolerable and acceptable. The latest example to cross my desk relates to an enhanced annuity application and the subsequent antics of Just Retirement. During November my client, Mr X, decided […]

Barclays prepares to cut 2,000 investment jobs

Barclays is set to axe as many as 2,000 jobs from its investment department as part of a move to cut £2bn from its annual cost base of £20bn, according to reports. The FT reports the bank will present a strategic overhaul of the business on Tuesday which will focus on a partial wind-down of […]

Retirement - thumbnail

A downhill stroll?

The Department for Work and Pensions (DWP) has recently published new research, which once again demonstrates how the prospect of retirement is changing for older workers.


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