Foresight Group, the leading UK venture and growth capital investor, has been awarded the Enterprise Investment Scheme Association’s (EISA) Promotion of the Year Award for its EIS Sustainability Fund. The presentation took place at the Chairman's Annual Reception held by the EISA at the House of Commons on 12 February 2008.
The £22 million Foresight Sustainable UK Investment Fund, which closed oversubscribed in December 2007, presents an opportunity for investors to achieve capital profits from a diverse portfolio of unquoted, UK focused, environmental infrastructure opportunities. The fund is the first of its kind in the UK and its strategy is to invest in renewable energy and recycling.
By investing in UK unquoted companies, individual investors can also benefit from the EIS tax relief which reduces the downside of the investment whilst allowing for tax free capital growth. EIS tax relief includes 20% of investment after all costs, Capital Gains tax exemption, deferral of Capital Gains from the previous three years and Inheritance Tax exemption.
The fund provides a unique vehicle for individuals who are looking to capitalise on the emergence of the environmental investment sector. Infrastructure investments generally offer a lower risk investment profile but still can provide exceptional growth opportunities and therefore offer attractive returns to investors.
James Armstrong, Head of Sales, Foresight Group said: “We are delighted that Foresight Group’s environmental fund has been recognised. For the first time in the UK we are seeing the convergence of government policy and proven technologies to create the opportunity for highly profitable environmental investments. Foresight is as well placed as anyone right now to exploit this market. We would like to thank the EISA for its recognition.”
For information please contact:
Ashleigh Lezard, Capital MS&L020 7255 5197
About Foresight Group
Foresight Group is a leading growth investor with a 20 year track record and has approximately £145 million under management. The firm's first institutional fund returned over £4.00 for every £1.00 invested. Foresight Group is also the manager of the UK’s best performing venture capital trust. Foresight is a leading investor in cleantech in the UK and has recently raised a £20 million EIS fund to invest in cleantech infrastructure.
The EIS Association ("EISA") is an independent, not-for-profit organisation, the aim of which is to further the availability of capital and resource to small to medium-sized enterprises (SMEs) through the Enterprise Investment Scheme - the EIS. The EIS is a Government initiative designed to encourage private individuals to invest in Britain's entrepreneurial private companies, the key drivers of our economy. Investors qualify for a range of attractive tax benefits to reflect the investment risks inherent in such companies but although riskier than most traditional quoted investments, successful EIS companies also have the potential for strong growth and superior returns. EISA performs a number of key functions but it does not endorse or promote any particular investments or EIS funds. Primarily, its aims are twofold:
1. to work with the Treasury and HM Revenue & Customs to improve the user-friendliness and success of the EIS, and
2. to promote the benefits of the Scheme across a wide range of parties covering investors, their personal and taxation advisers and financial intermediaries; companies seeking EIS investment, and their accountancy, taxation, legal and corporate finance advisers, as well as sponsors, promoters, market commentators and analysts