Octopus Investments has launched the Octopus Protected Enterprise Investment Scheme. The fund will invest in a series of wholesale companies and the charging structure allows clients to receive tax relief on the full amount. As it has been pre-approved by HM Revenue & Customs. Clients can obtain their 20% income tax relief as soon as the fund closes in mid-January 2007. The initial charge is 2.5% and the annual fee is 2%. Minimum investment is 50,000.