VCTs raise £330m in 2011/12

Venture Capital Trusts(VCTs) have posted another strong fundraising year in 2011/12, with £330m of new shares issued in difficult market conditions.

The amount of new money entering the sector was the sixth highest since VCTs were launched into the market in 1995. The figure is slightly down on the amount raised during the 2010/2011 tax year, which stood at £365m, but has held up compared to investment trust and open-ended peers. In 2011, six new investment trusts entered the market, raising £691m in total. This was a dramatic decline from 2010, when £1.7bn of new money was raised through 15 IT launches. Similarly, open-ended funds also suffered a slump in net sales with investors becoming increasingly more cautious due the sub...