The Association of Investment Companies (AIC) has revealed the VCT sector's findraising figures were the second highest on record for the 2016/17 tax year, at £542m.
The venture capital trust (VCT) sector raised £542m during the tax year, representing an 18% increase on the previous year's figure of £458m. The 2016/17 amount is the highest raised since 2005/06, which saw a huge fundraise of £779m after income tax relief was increased from 20% to 40% the year before. VCT assets under management at 5 April 2017 are also up on last year from £3.6bn to £3.9bn. IW podcast: Why invest in VCT and EIS funds? Ian Sayers (pictured), CEO of the AIC, said: "These figures are a testament to the ongoing demand for VCTs by investors, boosted by the pensions r...
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