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ProductUnicorn AIM VCTPembroke VCTSeneca Growth Capital VCT Triple Point Venture Fund VCT Maven VCT 1 & 5
Offer Size £15 Million £20 Million £10 Million £15 Million £30 Million Joint Offer, raising £15 million in each VCT
Over Allotment£10 million£20 Million £10 Million £15 Million £5 Million for each VCT
Minimum Investment£3,000£3,000£3,000£3,000£5,000
Initial Charge2.5%3.5%3%2.5%2.5%
AMC/Ongoing Charge2%2%2%2% VCT 1 - 1.9%
VCT 5 - 1.6%
OCF2.4%3% p.a. (including AMC of 2% + VAT p.a.)Capped at 3.5%Maven VCT 1 - 2.76%
Maven VCT 5 - 2.63%
Performance FeeNoneOn returns above 3p per share On returns above 3p per share 20% + VAT on returns in excess of 3% annual compound hurdleSee Securities Note Pg 33
Early Bird Offer 0.5% (for existing investors applications completed by 1st Marcg 2019)0.5% (for completed applications received by 30th November 2018)N/A0.5% (for completed applications received by 30th November 2018)1.25% new shareholders
1.5% for existing shareholders
Offer Close Date5th April 2019 5th April 20195th April 20195th April 20193rd April 2019
Minimum Investment Period5 years5 years 5 years5 Years5 years
LiquidityDaily & VCT offers monthly buybacks, subject to Board approvalBuyback subject to board approval Company buy back policy availableCompany buy back policy availableCompany buy back policy available
Exit ChargeN/AN/AN/AN/AN/A
Target ReturnN/AN/AN/ATBCN/A
Loss ReliefNoNoNo
NoNo
IHT ReliefNoNoNoNoNo
Investment ObjectiveCapital Growth & IncomeProvide attractive income and capital returnProvide attractive income and capital returnCapital PreservationCapital Growth & Income
Manager Unicorn Asset ManagementOakley Capital GroupSeneca PartnersTriple Point Investment ManagersMaven Capital Partners
Tax-free GrowthYesYesYesYesYes
Tax-free DividendsYesYesYesYesYes
Income Tax ReliefYesYesYesYesYes

*Not chargeable on death

 

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IMPORTANT NOTICE: For legal reasons the contents of the Website cannot be made available to US residents. These materials and any products described herein are not being offered or targeted to US persons or to US residents and access by them is prohibited.

This section is only for UK regulated financial advisers, wealth managers and others regulated by the Financial Conduct Authority.
This section is not intended for, and must not be accessed by, investors who would be classified as retail clients under MiFID. If you are in any doubt as to whether you would be deemed to be a ‘professional client’ or ‘eligible counterparty’, please seek professional advice and refrain from accessing this section until such advice has been obtained.

By clicking ‘I accept’ you confirm that you are an FCA authorised financial intermediary, you also confirm that:
(i) you are eligible to access this section of the website and that you are acting on the behalf of your client as their authorised adviser or are seeking information as a representative of an institution;
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  • I recognise that the information provided on this Website is for information purposes only and is not a solicitation of an investment;
  • I will study the Prospectus, KIID or Offering Memorandum of an Investment Product, including the risk factors before making an investment

Disclaimer

In order to view the information on the LightTower Partners website (lighttowerpartners.co.uk) (the “Website”), you must accept the terms and conditions set out below (these “Terms”) and our separate Terms of Use. These Terms create a binding legal agreement between us. For your own protection and benefit, please read these Terms carefully before starting to use this section of the Website. During each visit to this section of the Website, you are responsible for being familiar with, and are bound by, the then current version of these Terms. If you do not agree to these Terms, please refrain from using the Website. By clicking “Accept” below and accessing the information and material available on the Website, you accept these Terms.

IMPORTANT NOTICE: For legal reasons the contents of the Website cannot be made available to US residents. These materials and any products described herein are not being offered or targeted to US persons or to US residents and access by them is prohibited.

This section is only for UK regulated financial advisers, wealth managers and others regulated by the Financial Conduct Authority.
This section is not intended for, and must not be accessed by, investors who would be classified as retail clients under MiFID. If you are in any doubt as to whether you would be deemed to be a ‘professional client’ or ‘eligible counterparty’, please seek professional advice and refrain from accessing this section until such advice has been obtained.

By clicking ‘I accept’ you confirm that you are an FCA authorised financial intermediary, you also confirm that:
(i) you are eligible to access this section of the website and that you are acting on the behalf of your client as their authorised adviser or are seeking information as a representative of an institution;
(ii) you understand that the information contained in this section of the website is provided solely for the use by the advisers of organisations or representatives of such organisations, and not for members of the general public;

I confirm that:

  • I have read and accept the Terms and Conditions of using this Website, detailed above;
  • I am a professional client or eligible counterparty for the purposes of the Conduct of Business Sourcebook of the FCA;
  • I will not make an investment in an Investment Product, or advise another to do so, if the promotion of the Investment Product to the type of investor I represent is prohibited;
  • I recognise that the information provided on this Website is for information purposes only and is not a solicitation of an investment;
  • I will study the Prospectus, KIID or Offering Memorandum of an Investment Product, including the risk factors before making an investment