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Octopus Titan allotment date

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
Indig0
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Octopus Titan allotment date

#278700

Postby Indig0 » January 20th, 2020, 10:28 am

I've just spoken with someone at Octopus regarding the next allotment date for this VCT, however, he advised that at present they are not sure if there will be another one in the current tax year.

I just missed the last one that was in early December, but it seems strange that they are not already organising another one to sweep up any recent investments in this fund before we move into the 2020 / 2021 tax period.

He did confirm that they will be contacting any investors in March should they need to roll the funds into the next tax year and that if requested they will send any funds already deposited back.

Are they just being very cautious in their guidance or is it normal? If they can't process it this year I'll need to find another VCT to invest in instead.

barchid
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Re: Octopus Titan allotment date

#278753

Postby barchid » January 20th, 2020, 2:28 pm

Indig0
Thar certainly sounds odd, the only reason I can think why they would not want any more funds in this tax year is if they are having difficulty investing the cash already mopped up, which is quite considerable. Nevertheless I suspect that reason is unlikely because they are used to having large funds to invest each year.
Given their hefty charges I am fairly confident that the managers numero uno priority is to secure their danegeld but I completely sympathise with you as if you do not see your cash invested soon you may well lose out on any alternative vct's which you may feel attracted to, so it might make sense to make another call and see if the staff are all singing from the same hymn sheet ?

sinterklaas
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Re: Octopus Titan allotment date

#278782

Postby sinterklaas » January 20th, 2020, 4:53 pm

Indig0 wrote:Are they just being very cautious in their guidance or is it normal?


Surely the former.

Titan always closes before the end of March and they always allot shares in the tax year. I suspect 'jobsworth' on the phone there is simply covering his/her/Octopus’s ass

Taking a quick look at the prospectus, while it doesn't give a specific allotment date (they rarely do, as these are ultimately moveable and discretionary), it does state in the offer timetable:

Deadline for receipt of applications for final allotment in 2019/20 tax year
12.00 pm on 5 April 2020

Kidman
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Re: Octopus Titan allotment date

#278900

Postby Kidman » January 21st, 2020, 10:03 am

Octopus have been advertising Titan VCT in the financial trade press recently, for example a full page advertisement on page 12 of the 16 January edition of Financial Adviser.

They have done plenty of similar advertising in previous years and this campaign didn't give any details about the current fund-raising but I would assume they are trying to pull in as much as possible in this tax year, hence requiring an allotment on 5 April 2020.

sinterklaas
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Re: Octopus Titan allotment date

#278992

Postby sinterklaas » January 21st, 2020, 4:30 pm

They always get loads of money in before the tax year end. Why would advisers rush to do this if they didn't allot until after?

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Re: Octopus Titan allotment date

#279015

Postby Indig0 » January 21st, 2020, 6:21 pm

They've just updated their site with some info:

Next application deadline: 5 March 2020
Next allotment deadline: 11 March 2020

Thanks for all the feedback.


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