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VCT fundraising in 2016/17 tax year to date up 53% on last year

24 January 2017

Latest data on the VCT sector from the AIC.

Data published today by the Association of Investment Companies (AIC) demonstrates continued confidence in the VCT sector.  Fundraising for the 2016/17 tax year to 31 December 2016 was 53% up on fundraising to 31 December in the 2015/16 tax year.

Some £169.5m was raised at 31 December 2016 compared to £110.8m at 31 December 2015.  The increased level of fundraising reflects early VCT offers being launched in the 2016/17 tax year, continuing demand for VCT offers that were open up to the end of 2016 and strong support for VCT dividend reinvestment schemes in the 2016/2017 tax year. 

Ian Sayers, Chief Executive, Association of Investment Companies (AIC) said: “This fundraising data is a real vote of confidence in the VCT sector.  The pension rule changes and reduction in the lifetime allowance have clearly acted as a boost to investor interest along with its established track record both from a growth and income perspective. 

“It is hard to predict what the final fundraising total will be for 2016/2017, as managers come to terms with recent rule changes.  But what is not in doubt is that demand for VCTs remains strong.”
 

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Notes

  1. The Association of Investment Companies (AIC) was founded in 1932 to represent the interests of the investment trust industry – the oldest form of collective investment.  Today, the AIC represents a broad range of closed ended investment companies, incorporating investment trusts and other closed ended investment companies and VCTs.  The AIC’s members believe that the industry is best served if it is united and speaks with one voice. The AIC’s mission statement is to help Members add value for shareholders over the longer term. The AIC has 345 members and the industry has total assets of approximately £157 billion.
  2. Disclaimer: The information contained in this press release does not constitute investment advice or personal recommendation and it is not an invitation or inducement to engage in investment activity. You should seek independent financial and, if appropriate, legal advice as to the suitability of any investment decision. Past performance is not a guide to future performance.  The value of investment company shares, and the income from them, can fall as well as rise.  You may not get back the full amount invested and, in some cases, nothing at all.

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