Gartmore launches new venture fund

UK - Gartmore Investment has launched a new Venture Capital Trust (VCT), the Gartmore Premier VCT PLC.

The new trust, which aims to raise a maximum of £25million is sponsored by Teather & Greenwood Limited and will be managed by the Gartmore small caps team, headed by Gervais Williams.

Gartmore says it believes that now is the right time to launch a venture capital trust to take advantage of the large number of growth opportunities offered by investment in the AIM market.

The main objective of Gartmore Premier VCT is to offer investors attractive long-term capital growth from a portfolio of investments primarily comprising Alternative Investment Market (AIM) companies in the UK whilst maximising tax-free capital and income returns to shareholders under the VCT legislation.

It is intended that, within three years, 70% of the portfolio will consist of companies on the AIM and on OFEX markets and in unquoted companies that are expected to achieve a listing within 18 months.

Gervais Williams, comments:"As the outlook for the economy and corporate earnings improves and confidence returns to equity markets, there is likely to be a steady increase in the number of companies seeking finance. Gartmore is in the ideal position to identify these opportunities and invest in them through Gartmore Premier VCT."

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