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ProVen turns to media

ProVen private Equity has introduced its media venture capital trust (VCT) that allows up to 15 per cent of the fund to invest in US media businesses.

The ProVen media VCT aims to provide long term capital growth by investing in media related companies and those who help other companies promote their brand names by using new technology, such as the Internet.

This VCT was set up because the explosion of new media has brought about new investment opportunities in the media and communications sectors. Companies with good ideas depend on financial backing to make them work, which means investors have the chance to make good returns if they subsequently take off.

Like other venture capital trusts, the media VCT focuses on unquoted companies that are still in a developmental stage. However, the investment risks of this particular venture capital trust could be too much even for a sophisticated investor with an adventurous streak. In addition to its narrow focus on a volatile sector, the unusual option to invest in US media businesses as well as the UK could increase the risks, particularly if they are technology related businesses.


Bancassurance bids for channel control

Te high-profile link-up between Legal & General and Barclays, has left IFAs wondering where this leaves L&G&#39s commitment to the intermediary channel. The industry may see a torrent of further link-ups bet ween other banks and life offices if, as L&G chief executive David Prosser predicts, the alliance will become the bancassurance model of the […]

MG Rover employees refused mortgage protection by CGNU

Employees of MG Rover are being refused mortgage protection insurance by CGNU. An MG Rover employee was refused mortgage protection, to cover illness or redundancy, as a result of &#39uncertainty&#39 over the firm&#39s long term future, according to reports in the Financial Times. Vincent O&#39Meara, a worker at the Longbridge plant, was told that CGNU […]

Credit Suisse puts its faith in Nasdaq

Credit Suisse Asset Management is throwing caution to the wind with a new foray into the technology media and telecommunications (TMT) market. The global TMT fund is an open ended investment company (Oeic) that will aim for long term capital growth by investing in the TMT market. Credit Suisse will identify the best growth prospects […]

Difficult deliberations

Over the last few weeks I have looked at deliberate deprivation in the context of the local authority charge. While the general rules I have considered are relatively well known, questions are often posed concerning what actually happens in practice. Is the individual obliged to disclose any gifts he or she has prev iously made, […]


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