20th March 2014
The Association of Investment Companies has issued a guide considering the implications of the announcement of the withdrawal of VCT approval of Oxford Technology VCT and Oxford Technology 3 VCT at the following link – http://www.theaic.co.uk/aic/news/commentary/guide-on-the-implications-of-withdrawal-of-vct-approval
Ian Sayers, director general of the Association of Investment Companies says: “Whilst I hope the appeals on the withdrawal of VCT status for the two Oxford VCTs are successful, investors need to understand the implications of these announcements and what practical steps they might need to take now.
“We also want to reassure other investors that VCTs do not lose approval simply by having more than 15% of their assets in a single company, nor are they required to sell down successful investments when they increase in value. There has been some misunderstanding over this issue, and we are happy to clarify how the rules work.”