VCTs slash fundraising levels

John Glencross, CEO of Calculus Capital is cited in the FT’s latest VCT article.

Investors face missing out on lucrative tax breaks as popular venture capital trusts cut yearly fundraising levels, warn wealth managers.

Jason Hollands, managing director at Tilney Bestinvest, said there was an ongoing “supply crunch” around the funds, which offer investors 30 per cent income tax relief as long as the shares are held for five years.

Ben Yearsley, a wealth manager at Wealth Club, said: “Basically, if you want a VCT, you need to act quickly.”

John Glencross, chief executive officer of Calculus Capital, said the rule changes had forced those VCTs that previously focused on MBOs to “re-engineer their teams and change their investment strategy to now focus on growth investments.”

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