AIC combines VCT sectors

Eight VCT sectors merged into two.

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The Association of Investment Companies (AIC) is to simplify its venture capital trust (VCT) sectors following a sector review. Eight VCT sectors will be merged into just two: VCT and VCT AIM Quoted. The changes will take effect from 31 May 2024.

The newly created VCT sector will contain 50 VCTs and the existing VCT AIM Quoted sector will contain seven VCTs. The VCT industry (containing these two sectors) has combined total assets of £6.2 billion.

The new sectors and definitions are shown below.

A comparison of new sectors and previous sectors

New sector nameSector definitionPrevious sector name
VCTInvests in a range of different sectorsVCT Generalist
  VCT Generalist Pre Qualifying
  VCT Specialist: Environmental
  VCT Specialist: Healthcare &   Biotechnology
  VCT Specialist: Technology
  VCT Specialist: Technology Pre Qualifying
VCT AIM QuotedInvests in AIM stocksVCT AIM Quoted
  VCT AIM Quoted Pre Qualifying

The changes follow a regular review of investment company sectors by the AIC’s independent statistics committee which consists of brokers, research analysts and industry data providers. Reviews are conducted in consultation with the AIC’s members to ensure the sectors continue to be helpful for investors.

Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “We regularly review our sectors to ensure they are as clear and useful as possible for investors. The newly streamlined VCT sectors do away with distinctions that had become less relevant over time, and will make it easier for investors to find and research VCTs.”

The VCT sector changes will be reflected on the website from 31 May 2024. For a full list of all the sectors and definitions visit the AIC’s website.


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Notes to editors

  1. The Association of Investment Companies (AIC) represents a broad range of investment trusts and VCTs, collectively known as investment companies. The AIC’s vision is for closed-ended investment companies to be understood and considered by every investor. The AIC has 330 members and the industry has total assets of approximately £273 billion.
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