View more on these topics

US company to enter UK investment trusts market


Amerindo Investment Advisors Inc has announced plans to launch an investment trust in the UK.


The fund will be the fund manager&#39s first presence in this country and will hit the market by March 15 at the latest.


A minimum investment of £1,000 will be required to buy into the trust which will be available to both retail and institutional investors. The fund,which will be capped at £400m, will focus on US companies involved in the internet and internet related businesses.


The investment trust will be traded as Amerindo Internet Fund plc, and is ISA compatible. It has been timed to effectively coincide with the tax season in the UK and will close on March 31.


The US manager has pioneered a style of investing called “crossover” where it tends to invest in companies 18 months to two years before they are ready to float with an IPO. This differs from other venture capitalists who usually get in at the very beginning supplying the necessary start-up funds and pull out when the company floats on the market.


Amerindo president Alberto Vilar says: “Amerindo has proven expertise in this field and has delivered very attractive returns over many years. We believe we understand the sector better than most other investors.”

Recommended

Virgin celebrates fifth birthday

Virgin Direct is celebrating its fifth anniversay with an promise to to lead the way in the personal financial services market over the next five years.With a workforce of 1000 and a customer base of 300,000 it has come a long way since it first opened its 80-strong Norwich call centre in March 1995.The company […]

FSA issues stock tips warning

The FSA has issued a warning to investors about the sources of thousand of stock tips that appear daily on internet bulletin boards.The regulator has been quick to emphasise that the majority of such tips are likely to be genuine in nature.But it has published an alert on its consumer website pages pointing out that […]

Fund managers shy of US

UK pension funds only allocate 1.6 per cent of their portfolio to US equities according to the final returns of the Caps performance measurement consultancy.The figures from the end of December are down 1.8 per cent from a year earlier and 4.3 per cent from five years ago, reflecting fund manager&#39s concerns about the risks […]

Century Life overturns VAT tribunal

Century Life has successfully overturned a VAT tribunal&#39s refusal to grant VAT exemption for pensions misselling work in the High Court.VAT exemption usually applies to all services performed by agents, related to the provision of insurance contracts. The tribunal had ruled that the review of pensions misselling was outside the normal work of an insurance […]

1

Lifetime Isa – how it works

According to George Osborne “people like Isas – because they’re simple”. Fiona Tait is not convinced… Contributions & bonuses What he said: “From April 2017, anyone under the age of 40 will be able to open a Lifetime Isa and save up to £4,000 each year. And for every £4 you save, the Government will […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment