Quilter joins with OMGI for tax advantageous Aim portfolio


Quilter Cheviot is joining with OMGI to launch a discretionary tax-advantageous Aim portfolio.

The Quilter Cheviot AIM strategy service will be overseen by chief investment strategist Alan McIntosh alongside OMGI head of UK mid and small cap equities Dan Nickols.

Quilter Cheviot and OMGI are both owned by Old Mutual, but the latter is currently in the process of being sold off, while the former will merge with Old Mutual Wealth, which is being rebranded as Quilter.

The fund will invest in Aim-listed companies that qualify for Business Relief, previously known as Business Property Relief.

It is aimed at UK high net worth investors.

The portfolio must be held for at least two years to qualify for Business Relief and must be held at the time of death to qualify for inheritance tax relief. 

IHT receipts were £4.8bn in the most recent tax year, according to HMRC figures, doubling from the 2009/2010 tax year when they were £2.4bn.

Thesis Asset Management also launched an Aim portfolio service this month.