The Association of Investment Companies (AIC) is to reduce the number of venture capital trust (VCT) sectors from eight to just two following a sector view.
The trade body will divide VCTs into two sectors: VCT and the already existing VCT AIM Quoted.The changes will apply from 31 May 2024.
The VCT sector will contain 50 constituents, while VCT AIM Quoted will retain its current seven members.
Richard Stone, chief executive of the AIC, said: “We regularly review our sectors to ensure they are as clear and useful as possible for investors.
“The newly streamlined VCT sectors do away with distinctions that had become less relevant over time, and will make it easier for investors to find and research VCTs.”
The VCT industry has combined total assets of £6.2bn.