VCT fundraising in 2017/18 hits second highest level on record

Just shy of 2005/6 tax year's £779m figure

Jayna Rana
clock • 2 min read

The fundraising figure for venture capital trusts (VCTs) for the 2017/18 tax year was £728m, the highest level recorded in over ten years and the second highest in history, according to new data from the Association of Investment Companies (AIC).

The sector raised £728m between April 2017 and the end of the tax year on 5 April 2018, the highest amount since the inception of the VCT and an increase of 34% on the previous year's £542m figure. It is also the highest amount ever raised at the current level of 30% upfront tax relief. The highest figure recorded was during the 2005/6 tax year when the sector raised £779m, and the initial tax relief on investments was 40%. As at 5 April, assets under management for the sector were £4.3bn, up from £3.9bn as at 5 April 2017. AIC's Sayers: The industry's biggest challenge of the n...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on VCTs/EIS

Amati AIM VCT faces strategic review as performance issues mount

Amati AIM VCT faces strategic review as performance issues mount

Potential expansion of investment remit

James Baxter-Derrington
clock 14 March 2024 • 1 min read
Fuel Ventures VCT launches debut £50m fundraise

Fuel Ventures VCT launches debut £50m fundraise

Led by MyVoucherCodes founder

clock 25 January 2024 • 1 min read
Defaqto unveils new ratings for AIM and unlisted BR services

Defaqto unveils new ratings for AIM and unlisted BR services

Following MICAP acquisition

Sahar Nazir
clock 22 January 2024 • 2 min read
Trustpilot