Unicorn AIM VCT first in sector to achieve its asset raising target

The Unicorn Aim VCT, managed by Peter Webb, has become the first VCT launched in the 2001/2002 tax year to have met its asset raising target. The trust has raised £35m and has now closed to new money. Until 70% of the assets are invested in qualifying investments, the hurdle required to obtain VCT status, the bulk of the assets will be invested in smaller company shares alongside other Unicorn Asset Management funds. The group runs a number of small-cap portfolios including the Eaglet and Falcon investment trusts. VCT sales over the past year have been very disappointing compared to pre...