The newly launched Gartmore Premier VCT is to be managed by Gervais Williams, smaller company fund m...
The newly launched Gartmore Premier VCT is to be managed by Gervais Williams, smaller company fund manager at Gartmore, and his smaller companies team.
Within three years it will have invested 70% of the portfolio in Aim and Ofex-listed companies and will invest only in unquoted companies aiming to list within 18 months. The minimum investment is £3,000 up to a maximum of £100,000 a year. Initial intermediary commission is 2.5% with 0.25% trail. There is a management fee of 1.5% of net assets for the first period to 30 September 2002, 1.75% of net assets for the following year and 2% for subsequent years.
During the first three years, the fund will invest in corporate bonds, high yielding smaller companies and collective Gartmore funds. The income generated from these will be paid out as tax-free dividends.
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress