VCTs

VCT News

Amati AIM VCT AGM and Retailers

Amati AIM VCT is one of those peculiar beasts – a Venture Capital Trust. Yesterday I attended their annual general meeting and here are some general comments on the company and the meeting: Amati AIM VCT (AMAT) is the result a merger of the two Amati VCTs. They had very similar portfolios so this made a lot of sense, and the result is a large VCT with total assets of £147 million. This figure was also boosted by excellent performance last year ...

Horizon Discovery AGM and Chrysalis VCT

Yesterday I attended the Annual General Meeting of Horizon Discovery Group (HZD) in Cambridge. This is a new holding for me, and I don’t often buy shares in companies that are not reporting profits, but I thought it was worth going along to learn some more about the business. The company’s primary focus is on cell manipulation tools (gene editing, gene modulation) which they sell to drug development companies et al. I am not sure I have great understanding of the ...

Budget Feedback, the Patient Capital Review and Productivity

My last post on the Chancellors Budget was written quickly but seems to have covered most of the important points. Perhaps one significant item missed was the additional liability of foreign investors for capital gains tax on property sales, although institutional investors may be exempt. This might have some impact but as the details are not yet clear, it remains to be seen what. Otherwise the media feedback on the budget was generally positive although there was a big emphasis on the ...

VCTs and the Budget

It looks like VCTs have escaped, but there is some tightening of the qualifications. We will need to read this in detail to see the outcome. There has however...

VCTs – Possible budget changes and pre-planning our response

The autumn statement/budget on 22nd November is getting closer, so we may soon learn the government's views on patient capital. At a Proven VCT meeting on 1 November the VCT manager, Stuart Veale, seemed certain that something will change for VCTs, but nobody knows what. Richard Waltham spoke to him afterwards to suggest that if the changes are adverse then the main focus for lobbying could move from the Treasury to MPs. It may only take a handful of MPs to trigger ...