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Octopus Investments launches £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.”


Intelliflo appoints ex-Skandia marketing head Peter Jordan

Adviser software provider Intelliflo has appointed former Skandia head of proposition marketing Peter Jordan to head up marketing at the firm. Jordan left Skandia in March 2010 to pursue a career in teaching. He has most recently been teaching economics at Portsmouth Grammar School. The firm has yet to decide whether Jordan’s role will be […]


Regulators launch crackdown on early access ‘pension predators’

A coalition of regulators and Government bodies are launching a crackdown on pension “predators” who claim to offer people access to their retirement fund before age 55. According to research by The Pensions Regulator, the amount of money accessed early from pension pots increased from £25m at the start of 2010 to £200m at the […]


Advisers urge FSA to avoid “blanket ban” on VCTs and Reits

Advisers have welcomed the FSA’s decision to reconsider including products such as venture capital trusts and real estate investment trusts in its proposed ban on the promotion of unregulated collective investment schemes to retail investors. The FSA published a consultation paper on banning the promotion of Ucis to retail investors in August and warned VCTs, […]


What advisers are saying: Mergers, acquisitions, life and death

Herbert Stein famously said that “if something can’t go on forever, it will stop.” Stein’s law is frequently quoted. It is also, unfortunately, inescapable. One of two fates will befall every advisory business. Either they will sell up or they will stop trading. Eventually. There may be a whole bunch of other permutations in the […]

How do you choose the best online service?

By Ross Jackson, senior marketing manager There are many different protection online services available in the market and no doubt you’ll have used a few when submitting protection business. But why should you have to put up with slow, unresponsive sites for your business when you’re used to dealing with slick, modern user experiences in your […]


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