Fund managers Business and Trading House Investment Company (BTH) has completed its £2.4 million BES fund investments. The fund made four investments. These were:

Glasted Properties Ltd, a leisure complex at Lough Derg;

Tawnagh Ltd, a Dunmore East fish processing company;

Beeline Health Foods, the Dublin based manufacturer of healthcare products;

and M & M Qualtech Ltd, a Galway-based manufacturer of electronic components.

Mr John McGilligan, managing director of BTH said he expected the remaining RICT certificates, which enable investors to claim tax relief, will have been issued by the middle of next month. He welcomed the recent announcement from the Revenue Commissioners in which they agreed to process applications for tax relief without individuals having to submit RICT certificates. They now need only show the amount claimed on their tax return.

"However it is important for individuals to hold RICT certificates for verification purposes," he said. Mr McGilligan also said that, following the recent Budget measure curtailing BES, his company was not planning to operate another fund.