BSV

What Were the Real Returns from VCTs over 24 Years?

I wrote a previous blog article on the merits of Venture Capital Trusts (VCTs) but I thought it worthwhile to actually do some analysis of the capital and dividend...

British Smaller Companies VCT Offer

It’s that time of year when share subscription offers for Venture Capital Trusts (VCTs) tend to be launched. One of the first is that for the British Smaller Companies VCT (BSV). This one that has shown a relatively good performance for a generalist VCT – share price total return of 225 over ten years according to the AIC compared with a sector performance of 136. It also has a high dividend yield and a narrow discount to NAV. However I have ...

Enormous Management Fees at British Smaller Companies VCT

British Smaller Companies VCT (BSV) has been one of the more successful Venture Capital Trusts in terms of fund performance – it is managed by YFM. The NAV Total Return has been 106.9 over the last ten years according to the AIC (i.e. investors have doubled their money), beating the sector performance for generalist VCTs of only 64. With high, tax-free dividends being paid, investors have probably been happy. But back in 2009 the managers performance incentive fee was changed to be ...