Matrix Money Management has finalised the charging structure for the multi-manager VCT it is launchi...
Matrix Money Management has finalised the charging structure for the multi-manager VCT it is launching later this month, writes Leo Bland.
The product, which is to be called TriVest, will have an initial charge of 5.5%. The annual management charge will be 2% for the first three years after which it will fall to 1.6%. IFA commission will be 2.25% initial and 0.375% renewal.
As previously reported in Investment Week, the VCT will be jointly managed by GLE Development Capital, LICA Development Capital and VCF Partners.
GLE is to focus on general commercial investment while LICA will invest in the industrial and media sectors. VCF Partners will concentrate on investments in technology and internet related companies.
The prospectus for the VCT is to be published on 16 October and the minimum investment will be £2,500.
GLE, LICA Development Capital and VCF Partners will each manage an equal portion of the VCT portfolio. Matrix is looking to raise around £40m through TriVest and the VCT is likely to have exposure to around 60 companies. Matrix already offers 10 VCTs, including TriVen VCT, which is jointly managed by GLE, LICA and Elderstreet, with Elderstreet focusing on technology companies.
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