Investment trust insider on Literacy Capital James Carthew: Let retail investors buy ‘specialist’ funds
I know that the obstacles placed in the way of retail investors wanting to invest in trusts listed on the Specialist Funds Segment (SFS) are a source of real frustration.
I have enthused before about RTW Venture (RTW), the biotech venture fund, but I cannot buy it for my Sipp. Baillie Gifford’s private equity vehicle Schiehallion (MNTN) is conducting a substantial fundraise, but retail investors are shut out of the process. I managed to buy some Ceiba Investments (CBA), the Cuban property fund, for my ISA but, again, I couldn’t access these funds through my Sipp, which is through a different platform.
Though the fund I am going to talk about this week – Literacy Capital – will likely suffer from the same problem, please bear with me.
I find it unbelievable that no restrictions are placed on buying cryptocurrencies, that special-purpose acquisition companies (Spacs) can have a standard listing on the main market, and retail investors are free to buy – often openly encouraged to speculate on – penny stocks, but some platforms will make these SFS stocks off-limits….
Coming back to Literacy Capital, this investment company is contemplating an SFS listing in June. The free float will be relatively small and this will preclude a main market listing.
Literacy Capital is backed by the Pindar family… read more here