Don’t invest unless you’re prepared to lose all your money invested. This is a high risk investment. You could lose all the money you invest and are unlikely to be protected if something goes wrong. Take 2 mins to learn more.

Frequently Asked Questions

What happens to my investment when I die?

On receipt of a death certificate and following the grant of probate, your investments will be transferred into the name(s) of your beneficiaries, and we will await their instruction as to how the investment is to be administered. Beneficiaries can claim business relief on your investment if the shares have been held for at least 2 years at the point of death.

Please note that this is subject to a £2.5 million allowance applying to the combined value of assets in an estate qualifying for 100% Business Relief. Relief at the lower rate of 50% will apply to the value of qualifying Business Relief assets above £2.5 million. For spouses and civil partners, this could potentially allow up to £5 million of qualifying Business Relief assets to benefit from 100% relief between them, subject to individual circumstances and the availability of transferable allowances. https://www.gov.uk/government/publications/changes-to-agricultural-property-relief-and-business-property-relief/agricultural-property-relief-and-business-property-relief-changes

Yes, ZEPS is available to joint applicants.

Yes, we can arrange for your investment to be transferred during your lifetime. In some instances the transfer may give rise to a capital gains tax liability.

The two-year period typically commences when your subscription is allotted in the shares of the Direct Lending Companies. Shares in Direct Lending Companies are typically allotted at the end of every month.

Yes, your investment may be transferred to an existing trust, subject to the receipt of the necessary paperwork.

During this time your money is held in a personal segregated client account in your name with the custodian appointed by the ZEPS DFM. Client money balances awaiting investment into ZEPS are held on a non-interest-bearing basis.

Zenzic Capital can facilitate agreed initial and ongoing adviser charges. Ongoing adviser charges may be paid either from funds held in cash by the ZEPS Administrator on your behalf or by selling an appropriate number of shares provided the ZEPS DFM is instructed by you to do so.

ZEPS is not a fund or a legal entity, but a discretionary investment management service. It is not considered to be a collective investment scheme (as defined in section 235 of the Financial Services and Markets Act 2000) or a collective investment undertaking under European legislation.

You can write to us within 14 days to cancel your investment. However, if we have already subscribed for any shares for your portfolio at that point, you will not be able to obtain a refund for them. However, you can request that your shares are sold. See the Investment Management Agreement for full details.

Two types of FSCS protection are relevant to investors: Deposits and Investments.

Deposit protection applies when money belonging to investors is held in the client account. This occurs initially when investor money is transferred to the ZEPS Administrator to make an investment and when interest repayments or dividends and repayments of capital are being held on behalf of investors. While the money is in a client account (which is likely to be a short period) it is protected by the FSCS deposit protection which is currently £120,000 per person per eligible claim. This client account is operated by Woodside Corporate Services Limited, the initial custodian appointed by the ZEPS DFM under the direction of the ZEPS DFM and is held with the Royal Bank of Scotland. Investors may also be entitled to investment protection in cases where loss is incurred by factors such as investments in ZEPS being mis-sold or misrepresented. The FSCS investment protection is currently up to £85,000 per person per eligible claim.

The shares issued by Direct Lending Companies are not protected by the FSCS. Accordingly, neither the FSCS nor anyone else will pay an investor compensation upon the failure of a Direct Lending Company. If a Direct Lending Company goes out of business or becomes insolvent, you may lose all or part of your investment. Individuals approaching retirement and considering options under the new pension freedoms should recognise that an investment in the shares of a Direct Lending Company is a much higher-risk alternative to buying an annuity.

Individuals in retirement, who may have significant sums in savings and may be concerned about low interest rates and are tempted to invest may be taking an inappropriate level of risk with their money. It should be noted that an investment in ZEPS should be made in the context of a wider portfolio of investments with sufficient assets in readily realisable investments to cover any anticipated liabilities. If you remain in doubt whether an investment is appropriate for you, you should contact your IFA.

If you have any further questions, we recommend speaking with your financial adviser in the first instance.
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