AMATI AIM VCT PLC (AMAT)

AMATI AIM VCT PLC (AMAT)

Blog posts

Bonmarché Update, FCA Grilling over Woodford and Amati AIM VCT AGM

Yesterday Bonmarché (BON) conceded defeat in its opposition to a takeover bid at 11.4p. On the 17th May it had rejected the bid because it “materially undervalues Bonmarché and its prospects”. The share price of this women’s clothing retailer was over 100p a year ago but the latest trading review suggests sales are dire because of underlying weakness in the clothing market and “a lack of seasonal weather”. Auditors might have qualified the accounts due to be published soon due to ...

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 ...

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 ...

AGM Reports

AMATI VCT AND VCT 2 (AMAT) AGM 2017

I attended the AGM of the Amati VCT and VCT 2 funds at the impressive venue of the Guildhall School of Music near the Barbican on the 28th June. About 70 shareholders attended - mostly male and over 60 as is usual with these kind of events. On the morning of the AGM, both funds issued a RNS announcing that they are in discussions over a possible merger of VCT and VCT 2 and that they also plan a new joint fundraising of ...

Amati VCT 2 PLC (AMAT) AGM Report 2014

Amati VCT 2 Plc is a Venture Capital Trust that was formed in March 2011 from the merger with Invesco Perpetual AIM VCT Plc. It had previously been the result of a merger of the Singer & Friedlander AIM VCTs, subsequently renamed Victory VCT and then Amati after the latter took over the fund management. I attended the Annual General Meeting of the company yesterday (26th June 2014) at the Guildhall School of Music & Drama in London at 10.00am. Amati had ...

Amati VCT 2 PLC (AMAT) AGM Report 2012

Amati VCT 2 Plc is a Venture Capital Trust that was formed in March 2011 from the merger with Invesco Perpetual AIM VCT Plc. It had previously been the result of a merger of the Singer & Friedlander AIM VCTs, subsequently renamed Victory VCT and then Amati after the latter took over the fund management. There was also a share consolidation which rebased the net asset value to nearer 100p and which concealed the poor past performance for the uninitiated, and ...