Please select your category from the list below. I am a/an:

IFAs, wealth managers or other FCA regulated persons

I am an authorised adviser in respect of investments my clients may wish to make through Downing LLP.

I make this statement so that I can receive promotional communications relating to non-readily realisable securities as an adviser who specialises in advising on investments. I confirm that I am sufficiently qualified to provide clients with advice about the suitability of Downing’s investments.

By clicking confirm, I have read and agreed with these terms and conditions

I have taken advice from an authorised adviser in respect of any investments I may wish to make through Downing LLP.

I make this statement so that I can receive promotional communications relating to non-readily realisable securities as an advised investor. I declare that I qualify as an advised investor because:

(a) I am already a client of a regulated firm, such as an Independent Financial Adviser or Wealth manager; (“my financial adviser”); and

(b) My financial adviser will advise my about whether any investment are suitable where I viewed the investment details through Downing’s website.

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested.

By clicking confirm, I have read and agreed with these terms and conditions

I confirm that one or more of the following criteria applies to me.

1) I have a total annual income or £100,000 or more during the last 12 months;

2) I have net assets of £250,000 or more (not including my primary residence, or assets due under an insurance contract, or pension or termination benefits).

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-readily realisable securities. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

(a) I had, throughout the financial year immediately preceding the date below, an annual income to the value of £100,000 or more;

(b) I held, throughout the financial year immediately preceding the date below, net assets to the value of £250,000 or more.

Net assets for these purposes do not include:

(i) the property which is my primary residence or any loan secured on that property;

(ii) any rights of mine under a qualifying contract of insurance; or

(iii) any benefits (in the form of pensions or otherwise) which are payable on the termination of my service or on my death or retirement and to which I am (or my dependants are), or may be, entitled.

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me to seek advice from someone who specialises in advising on investments.

By clicking confirm, I have read and agreed with these terms and conditions

I confirm that one or more of the following criteria applies to me:

1) I have been a director of a company with an annual turnover of £1 million or more in the last 12 months;

2) I have made more than one investment in an unlisted company in the last year

3) I have been a member of a group of business angels for at least 6 months

4) I have worked in the finance industry in an active professional capacity, financing small and medium firms in the last 24 months.

I declare that I am a self-certified sophisticated investor for the purposes of the non-readily realisable securities. I understand this means:

(a) I can receive promotional communications made by a person who is authorised by the Financial Conduct Authority which relate to investment activity in non-readily realisable securities;

(b) the investments to which the promotions will relate may expose me to a significant risk of losing all of the property invested I am a self-certified sophisticated investor because at least one of the following applies:

(i) I am a member of a network or syndicate of business angels and have been so for at least the last six months prior to the date below;

(ii) I have made more than one investment in an unlisted company in the two years prior to the date below;

(iii) I am working, or have worked in the two years prior to the date below, in a professional capacity in the private equity sector, or in the provision of finance for small and medium enterprises;

(iv) I am currently, or have been in the two years prior to the date below, a director of a company with an annual turnover of at least £1 million.

By clicking confirm, I have read and agreed with these terms and conditions

I agree to invest no more than 10% of my savings (including shares, bonds, ISAs and property, excluding my primary residence) into investments that cannot be easily sold.

I make this statement so that I can receive promotional communications relating to non-readily realisable securities as a restricted investor. I declare that I qualify as a restricted investor because:

(a) in the 12 months preceding the date below, I have not invested more than 10% of my net assets in non-readily realisable securities; and

(b) I undertake that in the 12 months following the date below, I will not invest more than 10% of my net assets in non-readily realisable securities.

Net assets for these purposes do not include:

(a) the property which is my primary residence or any money raised through a loan secured on that property;

(b) any rights of mine under a qualifying contract of insurance; or

(c) any benefits (in the form of pensions or otherwise) which are payable on the termination of my service or on my death or retirement and to which I am (or my dependants are), or may be entitled.

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me to seek advice from an authorised person who specialises in advising on non-readily realisable securities.

By clicking confirm, I have read and agreed with these terms and conditions

Downing FOUR VCT plc - Generalist

Share by email

Investment Week 'Tax-Efficient Group of the Year 2018'.

Initial cost reductions on our special early bird offer:

0.2% for applications received by 22 February 2019
0.1% for applications received by 1 March 2019

Downing FOUR VCT - Generalist Share Class offers you the opportunity to support smaller UK companies with growth potential across a variety of sectors. Please read the key risks below.

Strategy: seeking to invest in a variety of growth companies and businesses supported by tangible assets
Portfolio: investments to be made in early stage businesses across a range of sectors
Experience: our origins date back to 1986 and we have over £240 million of VCT funds under management (as at 30 June 2018)

Introduction

The Downing FOUR Generalist Share Class seeks to provide you with attractive returns by investing in a portfolio of growth companies, at different stages in the business life cycle.

The Generalist Share pool will invest in companies that are likely to be generating revenues but many may still be pre-profit, with our funding expected to push them closer to break-even and profitability. Some companies may already be profitable but with cashflows that may not be enough to fuel their growth potential.

Alongside the standard lump sum available for one-off subscriptions, we have a monthly subscription option, allowing you to subscribe by way of a standing order. Share allotments will be made at least quarterly with tax and share certificates issued accordingly.

The key features of Downing FOUR VCT

No penalties on exit: Downing FOUR operates a share buy-back policy at nil discount to NAV (subject to VCT regulations and liquidity). This should give you the opportunity to sell your shares and exit the VCT in one transaction, at a time that suits you, with no exit penalties.
Monthly subscription option: unlike other companies, we offer a monthly standing order option. Subscriptions are subject to a minimum lump sum of £5,000 or £500 per month (maximum £200,000 or £16,666 per month across both share classes).
Target dividend: 4% p.a., from summer 2020. Please note, this is a target only and is not guaranteed.
Funds awaiting investment: as returns on cash deposits are currently at very low levels, up to 70% of the funds awaiting investment will be invested into listed opportunities and/or funds managed by Downing’s Public Equity team (subject to market conditions and cashflow requirements). The focus will be on funds with micro-cap and small-cap investment strategies.

Subscription amount


Minimum subscription: £5,000 lump sum or £500 per month (across both share classes)	Maximum subscription: £200,000 lump sum or £16,666 per month (across both share classes)

Method of payment for application

Payments for applications can be made by cheque, made payable to:

Downing FOUR VCT plc, or by electronic bank transfer using the payment details below.

Account Name:

Downing FOUR VCT plc

Account Number:

00709930

Sort Code:

16-01-09

How to apply

If you would like to invest, please first read the Prospectus before completing an application form.

Key risks

VCTs are considered to be higher risk investments and you may lose some or all of your capital. We’ve outlined the key risks associated with an investment in the Generalist Share Class of Downing FOUR below – please refer to the Prospectus for a full list.

Capital is at risk: the value of the shares and income derived from them can fluctuate. There’s no guarantee you’ll get back the amount you invest.
Investments are long-term and high-risk: you should be prepared to hold your shares for a minimum of five years. Qualifying investments made by the Company will be in businesses which have a higher risk profile than larger “blue chip” companies and whose securities are not readily realisable and therefore may be difficult to realise.
Tax reliefs are not guaranteed: the tax rules, or their interpretation, in relation to an investment in the Company and/or the rates of tax may change during the life of the Company. Changes may apply retrospectively, which could affect tax reliefs obtained by shareholders and the VCT status of the Company. If you dispose of your shares within five years of issue, you’ll have to repay any income tax reliefs originally claimed.
Maintaining VCT status is not guaranteed: there can be no guarantee that the Company will retain its status as a VCT. Losing VCT status could lead to adverse tax consequences including a requirement for you to repay the 30% initial income tax relief.
Shares may be difficult to sell: although the Company’s shares are traded on the London Stock Exchange, there may not be a liquid market in the shares and you may find it difficult to sell them. In addition, the price at which shares are traded may not reflect their underlying net asset value.
You cannot rely on past performance: there can be no assurances that the Company will meet its objectives or identify suitable investment opportunities. The past performance of the Company and other funds managed or advised by Downing are not a guide to future performance.
There are investment restrictions: the Company’s ability to obtain maximum value from its investments may be limited by the VCT rules. Changes in the VCT rules may be applied retrospectively and may reduce the level of your returns. Several new investment restrictions came into force in 2015 and 2017, which include VCT funds being prohibited from being used to finance management buy-outs or the acquisition of existing businesses as well as the inclusion of a ‘capital-at-risk’ test. In addition, the maximum lifetime amount a company can receive from VCTs has been restricted, as well as limiting VCT investment to companies under a certain age.
There are market risks: the investments the Company may make in funds comprising listed stocks will be subject to normal market fluctuations and other risks inherent in investing in securities.

Important Notice

Investing in our products will place your capital at risk and you may not get back the full amount invested. Any tax treatment may be subject to change and the availability and value of the reliefs depend on the individual circumstances of each investor. The availability of tax reliefs also depends on the investee companies maintaining their qualifying status.

Further information can be found at HMRC’s website. Neither past performance or forecasts are reliable indicators of future results and should not be relied upon. Unquoted or smaller company shares are likely to have higher price fluctuations and are likely to be more difficult to sell than shares quoted on the London Stock Exchange Official List. Website content is not intended to constitute investment, tax or legal advice. We recommend you seek independent advice before investing in any of our products.

I have read and understood the risk factors and wish to proceed

Please select your category from the list below. I am a/an:

Downing FOUR VCT plc - Generalist

Introduction

Subscription amount

Method of payment for application

How to apply

Other Documents

Key risks

Important Notice

Important Notice

Follow us on