Any funds we receive for investment into the Seneca EIS Portfolio Service, Seneca Vintage or Seneca Preference are held by the Custodian of the Service, The Share Centre Ltd, in a dedicated pooled account until used for the purchase of shares. This money is a ‘client account’, separate from the Custodian’s operational account. The Share Centre Ltd is authorised and regulated by the Financial Conduct Authority (reference 146768) and is a member of the London Stock Exchange.
The Share Centre Ltd’s sister company Share Nominees Ltd act as Nominee for these Funds and Services.
Custodian’s Terms of Business
Your will be provided you with a copy of our Custodian’s Terms of Business when you make an investment (either in an electronic or printed format). However, the Custodian will update these from time to time. To access an up to date copy of the Custodian’s Terms of Business, please click here.
The standard fees charged by the Custodian are detailed in the Information Memoranda for the Seneca EIS Portfolio Service, Seneca Vintage and Seneca Preference. This is also the case for previous investments made into Seneca Evolution EIS or one of our Managed Storage EIS Funds.
However, there are certain additional ad-hoc fees that are charged only in certain circumstances (e.g. when an investor wishes money to be sent to them by cheque or the administration of an investment when an investor has died). For details of these fees, please click here.
In addition, additional fees apply where someone is investing with a view to benefiting from Business Investment Relief. (Business Investment Relief is a tax break available to foreign domiciliaries or non-doms who claim the remittance basis). Please refer to this page before submitting an investment on this basis.