Tapping into privateequity

Professional Adviser
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Despite the fall in fund flows into VCTs, they still offer an excellent way of accessing a diverse array of growing companies

Interest in venture capital trusts (VCTs) in the months leading to the end of the tax year (2001-02) was significantly lower than in previous years. Estimates put the total raised during the last VCT season at around £113.18m, some 58% short of the figure targeted. The fall in funds flowing into the VCT sector is mostly a reflection of fewer investors having capital gains to shelter this year rather than the investment environment for private equity managers. VCTs are still seen as primarily tax planning vehicles, offering CGT deferral and a 20% income tax rebate with capital and inco...

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