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.
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