THE VCT sector surpassed market expectations at the end of the last tax year, according to research from the AIC.
The findings show that fundraising activity was higher than anticipated, despite the market volatility. Some £219m was raised in the sector - 58pc of this in April 2008. This was 18pc below the £267m raised in the 2006/2007 tax year. Of the £219m raised, £114m was from new VCT launches, with a further £93m coming from existing VCTs raising new funds. 1pc came from other offers, and 4pc from funds raised from prospectus offers issued before April 6, 2007. Limited life VCTs gained 50pc of the year's fund raising for the first time with generalist VCTs accounting for 38pc of funds raised. ...
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