Foresight 4 VCT now accepting ISA funds through Platform One
- Foresight 4 VCT now accepting ISA funds through partnership with Platform One
- The first time Foresight 4 VCT can accept ISA applications
- Initial charge discount of 0.5% applies
London, 6th February, 2019
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Foresight Group LLP (“Foresight”), a leading independent infrastructure and private equity investment manager is pleased to announce that for the first time, investment into VCTs managed by Foresight, including the current offer for Foresight 4 VCT plc, will be able to accept ISA funds through a new partnership with Platform One. The partnership will allow investors to transfer funds from existing ISA products into Foresight 4 VCT whilst maintaining ISA status and without sacrificing their lifetime allowance.
Investors will find the platform provided by Platform One and the application process both intuitive and easy to navigate. It facilitates full or partial transfers of ISAs along with a range of other wrappers available, including Innovative Finance ISAs, so that the entirety of a client’s portfolio can be managed in one place. What’s more, investors taking advantage of the offer through Platform One will receive a reduction of 0.5% in initial charges.
Investment into VCTs has become increasingly mainstream, reflecting the impact of Pensions Freedom changes and the reduced lifetime and annual allowances. Since introduction in 1995, VCTs have raised approximately £7.7 billion of funds and in the 2017/2018 tax year, funds flowing into VCTs amounted to the second highest figure on record at £745 million.
Foresight 4 VCT, managed by Foresight Group, is a generalist VCT aiming to provide investors with a target annual dividend of 5% tax-free income. Foresight 4 VCT has around £100m of assets invested across a portfolio of 21 unquoted UK companies including Datapath Group Limited, TFC Europe Limited and Aerospace Tooling Corporation Limited. It is the intention to maximise tax-free income available to investors from a combination of dividends and interest received on investments and the distribution of capital gains from trade sales or flotations.
Bethany Dudley, Associate Sales Director at Foresight Group said:
“It makes sense for investors who have done the right thing in utilising their tax free ISA allowances over several years to be able to deploy those tax free funds into Foresight 4 VCT and take advantage of the tax reliefs available without sacrificing their lifetime ISA allowances. We expect there will be big demand from our advisers and their clients.
“With persistent low interest rates, we’ve seen increasing demand from investors looking to put their savings to better use and therefore we are delighted to offer them this additional option.”
Alex Cowan, Platform One said:
“Platform One is committed to connecting advisers with a diverse range of investment vehicles through our award winning wrap platform. We’re thrilled to be partnering with Foresight Group to provide an ISA wrapper for their industry leading VCT products.”
For more information contact:
Amy Smith, Foresight Group, firstname.lastname@example.org +44 20 3763 6978
NOTES FOR EDITORS
About Foresight Group LLP ("Foresight”):
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.
Foresight has some £2.8 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Property Relief (BPR).
Foresight’s Private Equity team, comprising 24 investment professionals, pursues four discrete but complementary investment styles: Venture, Impact, Growth and Replacement Capital through its growing regional office network.
Foresight was voted ‘Best VCT Investment Manager’ at the 2017 Growth Investor Awards, having been previously awarded ‘VCT House of the Year’ at the 2016 Unquote British Private Equity awards and was a shortlisted finalist for Venture and Growth Capital House of the Year at the 2018 Unquote British Private Equity Awards. Foresight VCT was recently named Best Generalist VCT at the 2018 Investment Week Tax Efficiency Awards.
Foresight is headquartered in London with regional UK offices in Manchester, Nottingham, Milton Keynes, Leicester and Guernsey and international offices in Rome, Madrid, Seoul and Sydney.