THE Association of Investment Companies (AIC) has introduced a new classification system for Venture Capital Trusts (VCTs), with six new sub-sectors which expand on the current ‘specialist' and ‘generalist' categories. The six sub-sectors are: VCT Generalist; VCT AIM Quoted; VCT Specialist: Healthcare & Biotechnology; VCT
Specialist: Environmental; VCT Specialist: Media, Leisure and Events, and VCT Specialist: Technology. Daniel Godfrey, director general, said: ‘‘The AIC is pleased to be playing a key role in the development of the VCT sector and these changes should give investors and advisers alike the appropriate tools to help distinguish between different VCTs.” He added: “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 investment...
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