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ProVen launches new venture capital trust

ProVen Private Equity is teaming up with Downing corporate Finance to launch a new venture capital trust to be called ProVen Media VCT.

The new trust will focus mainly on investing in private companies with strong intellectual property, either in the media sector or the ownership and exploitation of a brand.

The £30m that ProVen Media VCT seeks to raise will bring the total venture capital trusts under management or advice to over £80m.

ProVen managing director Stephen Edwards says: “The venture capital trust market has developed to a point where investors should be offered funds with a clear investment focus.”


AA drives into the IFA sector with annuities

AA Financial Services is re-entering the IFA market with plans to build the UK&#39s number one IFA brand through a new company AAIFA. It aims to build the brand by targeting the AA&#39s 11 million members. The first phase will see AAIFA entering the annuity, Isa, term insurance and investment bond markets by the second […]

Profit modelling for pleasure

A major form of entertainment for actuaries in life offices is profit testing. The “beneficiaries” of this work may see it as a black art but the process is actually very straightforward. In essence, all it involves is a comparison of income and outgoings. If the former exc eeds the latter by a suitable margin […]

Deadline looms for loan advisers

Mortgage advisers have two years to sit exams before professional qualifications bec ome mandatory but the Mortgage Code Compliance Board is hoping the entire industry will sign up by the end of the year. The official deadline for advisers to obtain the qualification is December 2002 but in the meantime the MCCB says its rules […]

Friends Ivory & Sime launches new socially responsible fund

Friends Ivory & Sime is launching a new actively-managed balanced socially responsible investment fund (SRI) as part of its pooled pension fund range. The fund is aimed at pension schemes looking to apply SRI across all their investments. The fund has been developed with The Pensions Trust, Christian Aid and Oxfam. Friends Ivory & Sime […]

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]


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