Quester launches its latest VCT this week and is aiming to raise £30m. Quester VCT3 will be structu...
Quester launches its latest VCT this week and is aiming to raise £30m. Quester VCT3 will be structured on the same lines as Quester VCT1, launched in 1996 and Quester VCT2, launched in 1998. The two vehicles have between them raised £77m. The new trust will follow a similar investment policy.
John Spooner, director at Quester, said: "We aim to achieve a broad spread of investment by having a diversified portfolio of growth businesses across different sectors and in various stages of development. Our investment strategy is to place special emphasis on technology-related business, particularly IT, software, telecoms, new media, health care and life sciences."
Quester investments include software companies such as JSB Software Technologies, XKO Group and Orchestream; IMVS Boxman, an online retailer of multimedia products; and power X, a producer of high-speed silicon datacoms switches.
The group also has a holding in Sift, a developer of online communities for professionals, and software house Purple Technologies.
The Quester VCT3 prospectus and application form will also be available over the internet. The minimum investment is £3,000. There is an issue cost of 5%, of which 3% is redeemable as IFA commission.
The annual management fee is 1.5% in the first year, 2% in the second and 2.5% in the third. The closing dates for new applications will be 3 April 2000 for the 2000/2001 offer, or earlier if the VCT is fully subscribed.
Copies of the prospectus are available by calling 020 7222 5472.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till