VCTs/EIS

The VCT industry expects to raise significantly more than last year's total of £340m as demand for investments to mitigate higher tax rates and pension top-up vehicles increases.

VCT group Albion Ventures has reshaped its sector allocation, tripling environmental holdings and almost doubling healthcare stocks.

Bramdean Asset Management's chief executive Nicola Horlick has launched a new venture investing in private members' clubs.

The Government is to introduce the final changes to VCTs which were agreed with the European Union.

Downing Corporate Finance is making its first foray into the clean energy sector with an investment in a biogas producer.

The expected rise in capital gains tax could attract investors towards venture capital trusts, experts say, because the vehicles are exempt from both capital gains and income tax.

Investec Structured Products has raised £3.8m for its first VCT launch. The venture capital trust, which is run in partnership with Calculus Capital, will invest in a combination of structured products and venture capital investments.

Investec Structured Products has raised £3.8m for its first VCT launch.

VCTs have doubled their fundraising in the most recent complete tax year, according to the AIC.

Managers have welcomed Treasury proposals to relax the rules governing VCT and EIS investment.