AIC's Ian Sayers
The Association of Investment Companies has welcome moves in the Autumn Statement that will mean Venture Capital Trusts can be invested in through platforms.
Ian Sayers, director general of the Association of Investment Companies, said: "VCTs are key investors in smaller companies so we are very encouraged by the Government's support for these businesses.
"The Government is also making sure that the VCT scheme evolves in line with developments in the wider retail market and therefore has announced that VCTs can now be held via nominee accounts.
"This will mean that applications for new VCT shares can be made through platforms which are increasingly popular for both advisers and investors.
Mr Sayers said that the coalition Government has previously supported VCTs by introducing measures to widen the scope of their eligible investments.
The AIC believes the changes to VCT dividends and buy-backs consolidate the scheme by ensuring VCTs continue to meet the Government's public policy objectives.
Mr Sayers said the AIC would continue to work with the Government to make sure the changes work as intended and ensure the long-term sustainability of VCTs.
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