Risk Warning

An investment in private equity and in particular VCTs carries a higher risk than many other forms of investment. A VCT's shares, though listed, are likely to be difficult to realise. Prospective investors should regard an investment in a VCT as a long term investment. A VCT's underlying investments will normally be in companies whose securities are not publicly traded or freely marketable and may, therefore, be difficult to realise and investments in such companies are substantially riskier than in larger companies. Investors interested in VCT investment are urged to seek independent financial advice in relation to whether this product is a suitable investment for them.