UK - Oxford Capital launches 'approved' EIS fund

The "approved" status is granted by the HM Revenue and Customs and requires the fund to invest 90% of the subscribed capital within the 12 months. Because the approval is obtained in advance, the fund's backers can benefit from tax relief in the year they subscribe to the fund. Meanwhile, the "unapproved" EIS funds must be fully invested after 18 months, and provide income tax relief as each portfolio investment is made.

Minimum subscriptions to the fund are set at £25,000 with a maximum commitment of £2m. The fund has an intial fee of 5%. Annual management fee amounts to 2.5% and the performance fee is 20%. In order to obtain all tax advantages, a holding period of at least three years is required.

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

• Topics
• Venture
• UK / Ireland