9th September 2009

Albion Ventures and Close Asset Management team up for fund raising

Albion Ventures and Close Asset Management have joined forces to market their latest fund raisings; Albion Development VCT PLC, Close Trading Companies and the Freehold Income Trust along with a new fund launch from Close. Each investment offer combines either an income/growth strategy and/or significant tax reliefs. They will be marketed to investment advisers through a series of roadshows where the companies will showcase the benefits of their investments to IFAs and wealth managers across the UK.

The companies will also survey the advisers at each of the venues to gain an understanding of their current views on investment, tax and the impact of the Retail Distribution Review (RDR) on their businesses. The findings will be published in due course.

The D Share issue of Albion Development VCT is the first fund raising by Albion Ventures since the business acquired Close Ventures in January 2009. Close Asset Management will be launching their new Farming trade for the popular IHT scheme - Close Trading Companies and will also unveil a new residential property product at the events this autumn.

Dates and venues of the events will be finalised in the coming weeks.

Patrick Reeve, Managing Partner, Albion Ventures said: “It makes sense for us to team up with Close as IFAs will be able to review three or four different investment strategies that either mitigate tax, allow asset diversification or both, which is attractive in the current economic and tax environment.”

Nigel Ashfield, Managing Director, Property at Close Asset Management said: “We are pleased to be linking up with Albion to give IFAs access to a wider range of investment solutions at one seminar.”

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