An investment industry organisation has welcomed the first use of a new tax framework introduced by the government.
HgCapital Trust recently became the first firm to take advantage of the new framework to "stream" income from interest bearing investments .
The Association of Investment Companies says this has already resulted in an increase in the share price, a higher dividend and millions of pounds in corporate tax savings .
Ian Sayers, director general of the AIC, said: "We are delighted to see the first investment company take advantage of this new tax framework which opens up new possibilities for the investment company industry.
" Investment trusts are now able to invest tax-efficiently in different investments allowing the industry to compete more effectively with alternative structures."
Meanwhile, HSBC recently unveiled its latest option for investors looking to take advantage of emerging markets, the GIF GEM Equity Alpha Fund.
It is targeting annual returns of between ten and 15 per cent, based on around ten per cent volatility with limited market correlation.
New investment trust welcomed by industry
New investment trust welcomed by industry
Tue, 13 Apr 2010
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