VCT fundraising hits nine-year high

clock

Venture capital trust (VCT) fundraising reached a nine-year high in the last tax year, according to the data from the Association of Investment Companies (AIC.)

VCTs raised £429m in the 2014/15 tax year, the highest level since 2005/6. The AIC said this figure was the fourth highest level ever in terms of annual fundraising, and compared to £420m raised in the 2013/14 tax year (excluding enhanced share buybacks). An additional £17.3m was raised through enhanced share buybacks during this period, but the rules were changed to abolish these in April 2014. To ensure the 2014/15 figures are comparable with the historic VCT fundraising figures, the historic fundraising totals exclude enhanced buybacks, the AIC said. Total funds under management...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on VCTs / EIS

Five reasons why now is the time for EIS in client portfolios

Five reasons why now is the time for EIS in client portfolios

'The current market presents a unique opportunity'

Will Gibbs
clock 22 February 2024 • 5 min read
Boosting the British economy through innovative EIS funding

Boosting the British economy through innovative EIS funding

'Smaller businesses are the lifeblood of the UK economy'

Harry Heartfield
clock 25 January 2024 • 4 min read
Sunset clause extension: How will it impact private market investing?

Sunset clause extension: How will it impact private market investing?

Sunset clause extension offers EIS and VCT investor opportunities

Sam McArthur
clock 24 January 2024 • 5 min read