Calculus Capital EIS Fund 12 comes following changes scheduled for inclusion in the 2012 Financial Bill which, from next April, will allow investors to double the amount they can invest in an EIS fund to £1m. The amount of income tax relief on the schemes has already increased from 20% to 30%.
Carrying a first closure date of 16 December, the fund will invest primarily in established, successful companies which Calculus believes have significant potential to grow further rather than untested start-ups.
The fund will be capped at £15m. Minimum investment is £30,000 with an initial charge of 2% without adviser commission, or up to 5% with commission. It carries a 1.5% annual charge plus a performance fee.
Susan McDonald, chairman of Calculus Capital, said: “We are currently in an investment sweet spot where good companies are still finding it difficult to borrow from banks and so the opportunities we are being offered now are as exciting as ever. The government-blessed tax benefits have never been better either. The reforms make EIS arguably the most tax-efficient investment vehicle available.
“Since the amount that can be invested tax-efficiently in a pension wrapper has been slashed, EIS funds are now an obvious choice for wealth managers who have clients with large income, inheritance or capital gains tax liabilities. They are an ideal vehicle for investors wanting to top up their retirement savings tax-efficiently.”
