The Company's principal activity is that of a Venture Capital Trust. The policy of the Company is to create a portfolio that blends a mix of businesses operating in traditional industries with those that offer opportunities in the development and application of innovation. The Company has been approved by the HM Revenue and Customs as a Venture Capital Trust for under Chapter 3 Part 6 of the Income Tax Act 2007. Investment advisory services are provided by YFM Private Equity Ltd for a fee calculated at 2% of gross assets less current liabilities payable quarterly in advance. The agreement is terminable by either party at any time by not less than 12 months' notice.
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