GLE's VCT launch to be run by Matrix

GLE Development Capital is to launch a VCT to be promoted by Matrix, which will be offered in mid-Se...

GLE Development Capital is to launch a VCT to be promoted by Matrix, which will be offered in mid-September. The Cornerstone VCT will aim to generate income and is to be managed by a five-man board chaired by GLE's head of investments, Keith Niven. The vehicle, which is seeking to raise £20m, will initially be invested in a portfolio of government and corporate bonds. Over the next three years the portfolio will be shifted primarily into profit generative private old economy companies, although 20%-30% will remain liquid to enable the board to add to its existing holdings at the end of...