Since September 2001, McMicking has been man- aging one of the top-per- forming venture capital trusts, Enterprise VCT, which invests mainly in smaller companies. In that time, the performance of the underlying investments has increased by much more than the relevant indices.Its investments in companies listed on the Alternative Investment Market between Septem- ber 2001 and June 30, 2005 are performing at a rate of 25 per cent a year. There are two portfolios – the EIS Portfolio, which is for those who wish to avoid capital gains tax and inheritance tax after two years, and the Aim Portfolio, which has IHT adv- antages and no tax con- straints on buying and selling within the portfolios as long as the funds are invested in qualifying assets for two years. The EIS Portfolio will invest in Aim companies with gross assets of less than 15m while the Aim Portfolio will also invest in some bigger companies quoted on Aim. This portfolio will target companies with a trading record of five years or more. Typical of their investments will be Fountains, which is a grounds maintenance and forestry business. This company is very profitable and is paying dividends. Another is SMC, an architecture business which has recently joined Aim. This company is profit- able and is expected to pay dividends shortly. The EIS and AIM Portfolios are a much safer way of investing in these types of smaller companies than buying Aim shares individually. It is of vital importance for these types of portfolios to have top investment management and McMicking and his team provide this.
Research into IFAs’ preferred transfer strategies has reignited a row between Scottish Equitable and Standard Life.
Almost three year’s ago, Britannia Building Society launched the best fixed-rate mortgage … ever.
The Bank of England’s Monetary Policy Committee announces base rates will fall to 4.5 per cent.This is a fall to the same level as June 2004.CML deputy director general Peter Williams says: “The rate cut will provide a welcome boost to consumer confidence and therefore help underpin the recent soft landing of the housing market. […]
The Fitzwilliam multi-manager fund is celebrating its 10th anniversary.
Artemis European Opportunities Fund manager Mark Page is questioned about the merits of investing in Spanish supermarket group, Dia. Dia is a 7,000-store Spanish discount supermarket chain. But with cheaper food prices coming on to the market and an improving Spanish economy, journalist Alexis Xydias questions Mark about its inclusion in the Artemis European Opportunities […]
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]