Never mind, what he takes with one hand, he gives with another. The Chancellor’s new tax breaks for VCTs provided considerable excitement and then embarrassment as they failed to inspire the public to part with billions, as the industry had seemed to expect. Several high-profile groups rushed out products only to struggle to raise enough cash to get the things off the ground. Fidelity continued to dominate fund sales but plucky New Star, which passed its third birthday, gave the giant a run for its money, beating it in several months. Another relative toddler, Skandia Investment Management leapt to the top of the multi-manager tree, outselling more seasoned players such as Jupiter and Hendersons.