The Association of Investment Companies (AIC) has created six sub-sectors for venture capital trusts (VCTs).
The sub-sectors comprise: VCT Generalist, VCT AIM Quoted, VCT Specialist: Healthcare & Biotechnology, VCT Specialist: Environmental, VCT Specialist: Media, Leisure and Events and VCT Specialist: Technology.
The system, which distinguishes between VCTs according to the three year investment requirement rule, should enable investors and advisers to differentiate more easily between VCTs, the AIC says.
The new sectors will be published monthly in the AIC Stats booklet from this month and will be included in the association’s online statistics.
Daniel Godfrey, director general of the AIC, says: “In addition to the expanded sector classifications, VCTs will also be divided according to whether they meet the three year investment rule, namely that they must have at least 70% of their investments in qualifying investments, which must be invested within three years of a VCT's launch.”
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