FORESIGHT 3 VCT

  • 0.00p Price (Inc)
  • - Price (Acc)
  • 0.00% Initial charge
  • 2.50% Annual management charge
  • 3.90% Ongoing charges
  • 0.00% Yield

Prices as at 19 July 2017

Foresight are generalist technology investors, acknowledged to be leaders in their sector. Investors who participate in this fund raising will also be gaining exposure to two mature technology related VCT portfolios built up by the previous manager, Advent. Realisation of these mature investments is expected to support a regular dividend of about 5p p.a, although this will depend on the amount of new money raised. It is a moot point whether the presence of these historic investments should be considered a positive or negative point for subscribers. For investors willing to tolerate the higher risk associated with this specialist sector, this offer is highly recommended.

Fund summary

Sector VCT Generalist
Structure X-VCT
Launched
Size £31m
Yield 0.00%
Charging basis
Dividends paid Dec

Charges

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Initial charge via Bestinvest 0.00%
Annual management charge 2.50%
Ongoing charges figure 3.90%

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Investment process

Foresight focus on unquoted technology based companies. The team tend to be lead or sole investors and will usually acquire substantial equity stakes of between 30-40%. They will insist on board representation. Investments are typically structured as 60-75% debentures / preference shares, with the balance being ordinary shares. Investments will be focused primarily on established businesses, with high-margin products/services, aimed at fast-growing markets, with proprietary technologies that can be sold or floated within 3-5 years. The portfolio will be diversified by sector, industry and international markets but the specialist nature of the policy is likely to result in above average risk.

Manager research

Average monthly relative returns

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Bestinvest MRI

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Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

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About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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Portfolio

The portfolio may co-invest alongside other funds managed or advised by Foresight, potentially participating in deals up to £3m in size. Participation in deals will largely be made in proportion to the net cash raised for each fund, unless the fund has a pre-existing investment within the company. Potential deals are referred to Foresight by their network of corporate advisers. Foresight are currently experiencing strong deal flow, their 2004-2005 VCT is already 25% invested. Assuming full subscription, to achieve the 70% qualifying rule in 3 years investments need to average approximately £1m p.m.

Key Investor Information

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