Investec SP launches first VCT

The VCT will invest in a combination of structured products and venture capital investments. It will be run in partnership with Calculus Capital. Its initial aim is to achieve an annual dividend for five years of 5.25p per share plus a return of 43.75p per share after 5.5 years by way of a special dividend or a cash tender offer for shares. The structured products within the portfolio will be managed by Investec and have simple defined returns based on the FTSE 100 index with pre-determined risk profiles and a diversified range of counterparties. Calculus Capital will manage the ventu...