VCT fundraising robust as Matrix closes on £11.8m

In the tax year that saw the investment industry's worst ever ISA season, the VCT sector has emerged upbeat from its 2007/08 retail fundraising. Matrix Private Equity Partners closed its Income & Growth VCT on £11.8m, for which it recently assumed sole manager status.

The VCT sector raised £219m in total in 2007/08, and although this was almost £50m shy of the £268m raised last year, it significantly surpassed the 2004 low of £50m.

These have been busy times for the VCT segment. Continuing the consolidation that saw Matrix take on sole manager status at The Income & Growth VCT and Aberdeen Asset Managers appointed fund manager to the Gateway VCT, GLE Group has bought early stage investor YFM Group, which manages two VCT portfolios. (See comment, page 11)

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Industry
• UK / Ireland
• Consumer