The objectives of the Fund are to achieve long-term capital growth and to generate tax-free dividends for private investors. Fund will seek to establish a diversified portfolio of the approximately 30 companies so as to maximise the growth in NAV from which dividends and realised capital gains can be generated for payment to Shareholders. Prior in investment in Qualifying Companies the Companys funds will be invested in fixed interest securities, which are to be managed by Cazenove Fund Management. Once re-invested the Manager intends to establish a diversified portfolio. This will be split as follows: 1) 80% in VCT qualifying Companies in sectors which Manager perceives as having good growth prospects including established and profitable companies and technology enabled companies and 2) 20% in fixed interest securities Fund will typically co-invest with the Existing Baronsmead VCTs and other VCT and non-VCT clients of Friend Ivory & Sime, thereby being able to invest in larger transactions than many other VCTs.