media oriented VCT

A media oriented VCT from ProVen Private Equity is to invest up to 15% of investor money into US media companies. VCT legislation requires that 70% of the portfolio must be invested into qualifying UK businesses. Gordon Powers, chairman of ProVen said the trust will invest 80% into the UK and 15% in the US and any remaining balance will go into gilts and cash. Powers added: "We now feel investors are more discerning about where their money goes and have looked to the US. There many developing businesses in the US and we have offices in New York and Los Angeles." The ProVen Media VCT w...