Alternative investments are not suitable for all investors. Potential investors are strongly recommended to seek expert independent financial and expert tax advice before investing.

As with all investments, there are risks associated with investing. Some of these risks are summarised below.

  • Investors may not receive back the full amount that they have invested. The value of each investment made may fall, and any of the investments may lose all of its value.
  • Investments in shares in unquoted companies are not readily marketable and the timing of any realisation cannot be predicted. An investment should not be made unless the investor has carefully thought about whether they can afford it and whether it is right for them, having had the opportunity to take independent advice. They should expect to leave the investment intact for significantly longer than five years.
  • Investments in smaller and unquoted companies involve a higher degree of risk than investments in larger companies and those traded on the main market of the London Stock Exchange. Smaller companies generally may have limited product lines, markets or financial resources and may be more dependent on their management or key individuals than larger companies.
  • The past performance of investments should not be regarded as an indication of the future performance.
  • The Investment Committee may be unable to find a sufficient number of attractive opportunities to meet the investment objectives or fully invest all of the capital subscribed.
  • Rates of tax, tax benefits and allowances described in this guide are based on current legislation and HMRC practice. These may change from time to time and are not guaranteed.
  • The tax reliefs are subject to the investors making the proper filings and claims with HMRC within the requisite time periods.
  • The dates on which initial income tax relief, CGT deferral relief and inheritance tax relief relating to investment in EIS or SEIS qualifying companies are available, will vary depending on the date on which qualifying investments are made within the portfolio.
  • Tax reliefs depend on your individual circumstances and may be subject to change in the future.