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Investment trust info:
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Sector
VCT AIM Quoted
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Launch Date
17 Mar 2004
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Base Currency
GBX
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Domicile
UK
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Share Price (p)
94.50
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Share Type
Ordinary Share
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TIDM
OOA
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ISIN
GB0034202076
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Shares Issued (M)
50
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Market Capital (£M)
48.46
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Gross Assets (£M)
50.83
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Net Assets (£M)
50.83
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TER (%)
2.48
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Historic Dividend Yield (%)
2.60
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Next Dividend Date
19 Dec 2013
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Next Dividend (p)
2.50
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Last AGM
12 Jul 2012
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Next AGM
12 Jul 2013
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Last Annual Report Date
13 Jun 2012
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Next due Report Date
28 Feb 2013
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Next due Report Type
A/R
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Objective:
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Invests in companies quoted on AIM and PLUS to provide shareholders with an attractive income and capital return.
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Management Group(s):
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Close Investments Ltd
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Octopus Investments Limited
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Octopus Investments Limited
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Octopus Investments(Tracey Spevack)
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Managed by:
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Andrew Buchanan
Start: 01 Aug 2008
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David Crawford
Start: 01 Oct 2006
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Freda Isingoma
Start: 01 Jan 2001
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Kate Tidbury
Start: 01 Aug 2008
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Richard Power
Start: 30 Jun 2004
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Management Contract & Fees:
The management agreement may be terminated by either party on 12 months notice given at any time thereafter. The Manager also provides secretarial and administrative services to the Company. The Manager is entitled to an annual fee equal to 2.0% p.a. of the NA of the Company. The performance fee scheme requires the NAV as at the end of each financial period to have grown over that financial period by more than an amount equal to the average base rate of The Royal Bank of Scotland plc plus 2% during the relevant financial period. If the NAV has exceeded this target, then 5% of the excess will be payable to the manager (in cash or shares at the discretion of the Board), subject to a maximum payment in respect of any financial period of 1% of the aggregate NAV as at the Accounting Date. The NAV will be adjusted to take into account capital (but not revenue) dividends paid during the relevant financial period. If the target is not achieved in any financial period then the deficit must be made up prior to any subsequent performance incentive payment to the Manager. If the payment to the Manager would have exceeded the maximum permitted payment in any one financial period, then that sum would be carried forward to be paid in future years or offset against subsequent shortfalls of the target return.
