Quester issues VCT4 shares

Quester Capital Management is looking to raise £50m through the launch of the Quester VCT4 this week. Some 50 million shares of 1p each will be issued on 1 November at a placing price of £1. The total cost of the issue will be capped at 5%, of which 3% will go to intermediaries. The trust aims to hold between 30 and 40 companies, which Quester believes to be a wide portfolio spread. It will be managed by a team of 10 fund managers. John Spooner, director at Quester, said: "We are aiming for about 30 or 40 holdings, not only to reduce our risk by spreading investment but also to increase...