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Yorkshire takes byte at technology VCT

Yorkshire Fund Managers has introduced the British Smaller Technology Companies VCT 2 as a follow up to the British Smaller Technology Companies VCT1.

This venture capital trust aims to provide growth by cherry picking young, developing companies in the technology sector.

These companies will be chosen will comprise of businesses that provide technology products or services that help make other companies more efficient.

During the initial two-year investment period, the money raised through the share subscription will be invested in gilt-edged securities. It will then be invested in developing technology companies until around 15-20 per cent remains in gilt-edged securities.

It is suitable for experienced VCT investors, including high net worth clients, who are aware of the risks associated with investing in new companies. Investors should also be aware of the volatility of the technology sector, which has been illustrated in recent months by fluctuations in the Nasdaq.

Clients who have a capital gains problem could find this a useful investment as it enables them to defer paying capital gains tax. And those with smaller sums to invest could use it in a similar way to an individual savings account as they would get income tax relief on their money.

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