Downing Corporate Finance
Details of the proposed merger between The AIM Distribution Trust, Pennine AIM VCT 5 and Pennine AIM VCT 6 are available here.
Downing Corporate Finance Limited ("Downing") is not permitted to advise you. Investors are strongly urged to seek independent professional advice when considering an investment in a VCT or under the Rathbones' EIS or IHT Portfolio Service ("Investments"). These Investments carry a higher risk than many other types of investment. The value of the tax reliefs referred to in this website will depend on personal circumstances.
This website has been issued as a financial promotion under the Financial Services and Markets Act 2000 by Downing Corporate Finance Limited, Kings Scholars House, 230 Vauxhall Bridge Road, London SW1V 1AU. This website is not an offer or invitation to apply for shares in the Investments. Any application for shares should be made solely on the basis of the relevant prospectus or brochure relating to the Investments. The past performance of the Managers is NOT a guide to the future performance of the Companies.
Downing is acting for the product providers included on this website and no-one else and will not be held responsible to anyone other than the relevant product provider for providing the protections afforded to Downing's customers.
Limited secondary market: the secondary market for shares in the Investments is limited. As a result, VCT shares usually trade at a discount to their value and there is a big relative difference between the buying and selling prices of the underlying investments held in Rathbones' Portfolio Services.
Type of Company invested in: the underlying Investments are usually held in very small UK companies. As such, there is a risk that any of these Investments may not perform as hoped and in some circumstances may fail completely.
Tax breaks: the generous tax breaks are one of the major attractions of the Investments. If the investment is not held for the minimum holding period (IHT: 2 years; EIS: 3 years: VCT: 5 years) or if the Investments do not comply with all the regulations, the tax breaks can be withdrawn. In addition, the tax reliefs listed are those which currently apply; they may change in the future and their value to investors will depend on personal circumstances.
Long-term nature of the Investments: generally, the Investments are considered to be long-term investments (at least 7 years).
Diversification: if the Investments do not raise sufficient funds to reach critical mass then it may be difficult to achieve a spread of investments and diversity, thereby increasing risk.
Charges and performance fees: the levels of charges for the Investments may be greater than Unit Trusts and Open Ended Investment Companies.
Security of capital: as with most investments, the value will depend on the performance of the underlying assets. The value of the investment and the dividend stream can rise and fall. So the investor may get back less than they originally invested, even after taking into account the tax breaks.
Registered in