LIVE: Edge steals live advantage.

Low-risk scheme yields big dividends for financiers

By Gordon Masson

LIVE MUSIC FINANCIER EDGE INVESTMENT MANAGEMENT is approaching promoters and entrepreneurs, asking for suggestions for events in which it can target funding.

At a time when the banks are offering very little in the way of security or interest payments, cash-rich investors are increasingly looking to live music venture capital trusts as a good way to increase their wealth.

Edge's offers are already looking like they might be oversubscribed, despite seeking a total of #20m. "We've raised 32% of the funds we're looking for this year so far, which is very good as usually we don't get the funding in until the very last minute before the tax year ends," explains Edge founder David Glick. "We have another VCT [Venture Capital Trust] offer in which we're looking to raise #10m and an enterprise investment scheme offer for the same amount. The offers remain open until the end of the tax year on April 5."

Edge's VCT and Enterprise Investment Scheme (EIS) funds allow investors to take advantage of tax legislation to save them around 30 pence in the pound which would otherwise go to the Inland Revenue.

While #100,000 placed in a bank account might earn its owner about #500 over a year - and with only #50,000 guaranteed by the Government in the event of a bank's collapse - putting money into a ...