The Unicorn Aim VCT offering, managed by Peter Webb, is soon to be withdrawn from the market, once i...
The Unicorn Aim VCT offering, managed by Peter Webb, is soon to be withdrawn from the market, once it hits its fundraising target of £35m.
The company was planning on closing the trust's doors to new business at the end of May but, as Investment Week went to press, the trust had already raised £34.2m.
This makes it unique among the current crop of VCTs, which have, in the main, struggled to raise anything near their funding objectives.
A number of the trusts launched last year are due to close during the next few months. The Aberdeen Growth Opportunities VCT has extended its investment deadline until 28 June, while the Oxford Technology 3 VCT is due to close on 2 May, but may look to delay this, according to David Knight, head of research at Allenbridge.
Baronsmead 4 will close on 25 May. Another four trusts are due to close at the end of May. The Teather & Greenwood Aim VCT, Quester 5, British Smaller Companies VCT 2 and the BioScience VCT are scheduled to close on 30 or 31 May.
Knight said: ' Of those VCTs that remain open, intermediaries considering possible investment options for their clients should consider the amount of funds that have already been raised by these trusts.
'The Electra Kingsway VCT, Baronsmead 4 and Northern 3 trusts have all raised significant sums, enough to give them sufficient diversity in their portfolio of companies. However, Teather & Greenwood Aim appears to be struggling a bit, despite being managed by an experienced manager like John Sweet.'
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