The Venture Capital Trust (VCT) sector raised £402.5m in 2012/13, up 22% on the previous tax year, according to data published by the Association of Investment Companies (AIC).
The figure, based on the value of new shares issued, represents the fourth highest amount raised since the tax-efficient investment vehicles were launched in 1995, though it is almost half of what VCTs brought in at their peak in 2005/6 (£779m). Excluding enhanced share buy backs, VCTS raised £269.2m in the 2012/13 tax year compared to £267.4m raised in the previous 12 month period. "The level of funds raised is at its highest in seven years, reflecting strong investor demand for the sector," said Ian Sayers, director general of the AIC. "This is a clear vote of confidence in the V...
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