Shore Capital Group is planning to enter the IHT and EIS space through the Puma Investments brand as it launches as a standalone entity.
Puma plans to launch and manage a new range of tax efficient products, including an IHT product this month and two EIS schemes next year.
It has also launched its first VCT under Puma as a standalone business. The same group from Shore Capital will be running the new Puma VCT 9.
The VCT intends to maintain a regular dividend payout of up to 6p per annum, the first such payment being made in April 2015. Qualifying investments will be in established unquoted companies, primarily in the form of secured loans.
The minimum investment on the VCT is £5,000 and the maximum is £200,000. The offer price is 100p, while the intial charge is 5.5 per cent and annual charge is 2 per cent. The initial closing date is 5 April 2013.
Puma Investments chief executive David Kaye says: “Puma Investments will benefit from the successful track record, skills and expertise of the Shore Capital team. Having our products under one distinctive brand creates greater clarity at a time when investors are increasingly seeking vehicles which offer capital preservation within a tax efficient structure.”