Foresight VCT – 2021/22 share offer
On 26 July 2021 Foresight VCT launched a new offer for subscription with the aim of raising £20 million (with an over-allotment facility for up to a further £10 million).
You can apply for the 2021/22 and/or 2022/23 tax year. Applications must be for a minimum of £3,000 (in aggregate across the tax years).
Wealth Club has not reviewed the current offer. However, to make it easier for existing shareholders, we have created an online application (see below).
Please note: before investing, please carefully read the Prospectus and the Key Information Document as well as our Risks and Commitments to ensure you fully understand the terms of the offer, its potential benefits and risks so you can make your own informed decision.
Read important documents and apply
This, like all investments available through Wealth Club, is only for experienced investors happy to make their own investment decisions without advice.
VCTs are high-risk so should only form part of a balanced portfolio and you should not invest money you cannot afford to lose. They also tend to be illiquid and hard to sell and value. Before you invest, please carefully read the Risks and Commitments and the offer documents to ensure you fully understand the risks.
To retain the tax benefits, VCTs should be held for at least five years. If you sell VCT shares and reinvest in new shares of the same VCT (including any mergers) within six months, tax relief can be restricted. Tax rules can change and benefits depend on circumstances.
VCTs can now only invest new money in growth capital deals. Management buyouts, replacement capital deals and investments in mature companies are no longer permitted. This results in considerably higher risks.
Charges and savings
A summary of the main charges and savings is shown below. The net initial charge shown includes the Wealth Club saving and any early bird discount. The investment may have additional charges and expenses: please see the provider documents including the Key Information Document for more details, offer price and share allotment calculation methodology.
|Full initial charge||5.5%|
|Early bird discount||—|
|Wealth Club initial saving||3%|
|Existing shareholder discount||0.5%|
|Net initial charge through Wealth Club (new investors)||2.5%|
|Net initial charge through Wealth Club (existing shareholders)||2%|
|Annual management charge||2%|
|Annual administration charge||£123.7k (to Dec 2021)|
|Annual rebate from Wealth Club (for three years)||—|
More detail on the charges
- First allotment of Offer Shares: October 2021 (thereafter at the discretion of the Board)
- Offer closes for applications for the 2021/22 tax year: 12:00 noon on 4 April 2022
- Offer closes for applications for the 2022/23 tax year: 12:00 noon on 30 April 2022
Read important documents and apply
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – tax-efficient investments. You should base your investment decision on the provider's documents and ensure you have read and fully understand them before investing. This review is a marketing communication. It is not advice or a personal or research recommendation to buy the investment mentioned. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.
- Target dividend
- 5% of NAV
- Initial charge
- Initial saving via Wealth Club
- 3% (3.5% existing shareholders)
- Net initial charge
- 2.5% (2% existing shareholders)
- Annual rebate
- Funds raised / sought
- £8.7 million / £20.0 million
- 4 Apr 2022 for current tax year