VCTs

CLEAN ENERGY

Environmental investment specialist Foresight is hoping to raise £40m for the launch of its new Solar VCT.

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.

Octopus VCT has raised more money than any other individual VCT in the most recent tax year, according to figures from the Association of Investment Companies (AIC).

Hargreave Hale plans to use rules that governed the VCT sector prior to April 2006 when making new qualifying investments for its two AIM VCTs.

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

ViCTory VCT has appointed Paul Jourdan's Amati Global Investors as its new fund manager, replacing Williams de Broe.

VCTs have invested almost £1bn in small companies between April 2004 and April 2009, according to a new survey from the AIC.