Maven Income & Growth Vct Share Discussion Threads

[spin doctor] 15/11/2020 20:48

Yep. I'd add Northern to that list.

[adamb1978] 15/11/2020 18:26

Thanks both. Yes, Maven, Mobeus, YFM and Albion seem to consistently rank as the highest performing managers. Agree Spin about spreading across a few - in the absence of meaningful yields in fixed income, I'm putting some of what I would have invested in that area in hard asset inv trusts, and VCTs.

I'm comfortable with some of the main VCTs given they're generally diversified across enough assets to reduce the risk from a single asset (compared to an EIS fund which are often invested in say 5-7 assets) and the 30% tax break obviously helps juice the returns and reduce risk

[jonwig] 15/11/2020 14:35

Sorry Adam I can't help as I've sold and not followed them

But Spin is correct, there aren't many reputable and sizeable VCT managers left, and Maven is one of them.

[spin doctor] 15/11/2020 14:29

You could do worse.

Maven seem a steady manager. Middle of the pack historically. Key to the future of course is how they adapt to the recent mandated focus on growth investments. I think the early signs are positive.

Try to diversify by investing also with other groups. Apply via discount broker to reduce costs.

[adamb1978] 15/11/2020 12:00

Hello

Any views on this VCT? I'm thinking of picking some up in the current offer period.
Thanks

Adam

[jonwig] 05/6/2013 17:37

Div 3.5p, xd 19/06, pay 19/07.

NAV 70.6p, up 7.3% over year and divi 5.5p.

A premium to NAV but maybe not outlandish, as quoted parts have been reduceed.

[jonwig] 17/5/2013 13:15

17/05/13 ... 100,000 64.0p [strange price]

[jonwig] 15/5/2013 15:54

NAV 70.6p on 28/02/13.

Div 3.5p pay 19/07, xd 19/06.

[jonwig] 25/1/2013 15:45

And again:

25/01/13 ... 15,000 66.0p
29/01/13 ...100,000 66.0p
30/01/13 ... 50,000 67.0p
31/01/13 ... 29,000 67.0p
01/02/13 ... 50,000 67.0p

[jonwig] 01/11/2012 16:00

The buybacks start again:

01/11/12 ... 30,000 57.0p
12/11/12 ... 50,000 60.0p
13/11/12 ... 40,000 63.0p
14/11/12 ... 30,000 63.5p
15/11/12 ... 33,000 64.5p

A year ago, there was lots of upside on this, but we're starting from a higher base.

[jonwig] 20/7/2012 10:48

NAV (unaudited) 72.3p on 31/05. Discount is 16%.

[jonwig] 06/6/2012 17:47

Following Transys disposal, NAV now around 72.6p.

Discount now about 16% - not bad for a VCT. Thanks to aggressive buybacks, mostly I think.

[jonwig] 21/1/2012 09:59

Managers of venture capital trusts (VCTs) are offering existing investors the chance to swap their current holdings for new shares on which they can claim another 30 per cent income tax relief.



The current outperformance - artificially generated by buybacks - might be a prelude to just this sort of exchange.
Current management, by ditching lots of AIM stocks, seem to be doing a better job of things.
Whether I'd take part, I don't know.

[jonwig] 16/1/2012 16:38

NAV 65.1p on 30/11/11.

Buybacks recommenced, and again, share price reacts upward:

16/01/12 ... 25,000 @ 55.0p
19/01/12 ... 25,000 @ 56.5p
20/01/12 ... 21,000 @,57.0p

[jonwig] 12/1/2012 12:14

Foresight Infrastructure VCTs for me - sent off the cheque (£5000) last month. There's a 2% bonus for early application and a (?)3% bonus from Hargreaves-Landsdown as commission rebate. Also I'm very keen on infrastructure investment.

Good luck.

[lavagrouch] 12/1/2012 11:29

I've gone for the Octopus Investments VCT 3&4 - investing in Solar energy projects. They probably won't benefit from the higher feed-in tariffs of earlier products but will still do well as installation costs for these projects is falling radically. I preferred a safer option in volatile times and it's still possible that the government might lose its appeal against the ruling that the reduction in FIT was illegal, in which case these will do very well.

£3,000 minimum.

good luck,

Grouch

[jonwig] 15/12/2011 14:03

Don't like the condition that you have to invest equal amounts in all four VCTs. Also £5,000 is more than I would be willing to invest anyway. (Though it does seem to be the general minimum these days.)

[jonwig] 15/12/2011 11:35

Hi, lavagr ... becaus they're offered at NAV, there won't be dilution. The proceeds will be invested in new ventures.

My prospectus came this morning. I doubt I'll act before Christmas, but the narrowing of the discount here in MIG1 makes it worth considering. Trouble is, I don't see any likely big winners in MIG1's existing portfolio.

I've applied for the Foresight Infrastructure VCT offering, so that might be enough.

[lavagrouch] 15/12/2011 10:49

MIG2 (MAVEN INCOME & GROWTH VCT No2) also offering new shares, 59.37p as opposed to a current price of 48p / 50p.

Not interested in buying more but agree there will be takers at these prices with relief available. What implications are there for existing shareholders of these offerings?

[jonwig] 07/12/2011 16:51

Explains why they were so keen to buy up their own shares -

The Directors of the Company are pleased to announce the launch of an Offer of new ordinary shares to raise up to £1.25 million ("the Offer"). The new ordinary shares are being offered at 65.71p (this being the most recently published net asset value of the existing ordinary shares, ...

And they'll have some takers, I don't doubt, given the VCT reliefs available.

[jonwig] 28/10/2011 11:37

Share buybacks progressing, 0.9% since August:

26/08... 195,000 47.75p
25/10.... 20,000 44.00p
26/10.... 20,000 44.75p
27/10.... 20,000 44.75p
28/10.... 22,000 45.25p
01/11.... 30,000 46.25p
03/11.... 20,000 47.75p
04/11.... 20,000 48.50p
07/11.... 20,000 49.00p
28/11.... 10,000 53.00p
29/11..... 7,000 53.00p
30/11.... 10,000 54.0p

[jonwig] 28/6/2011 11:19

Have held since initial issue in 2000; dividends and tax relief which was 20% then, have meant a modest profit if the 43p in dividends since then is taken into account, despite current languishing share price and wide discount of ~25%

Consideration of current strategy and holdings has tempted me to add this morning, and I'll add again in due course.

AIM and other quoteds have been reduced significantly (that was a poor strategy with poor stock-picking) and the unquoted portfolio seems to be improving in value. Many of the holdings are of mezzanine or loan stock in companies already generating cash ("late stage"), so a decent dividend should be assured.

(First Murray-Johnstone, then Aberdeen, now Maven, who at last seem to have a sound plan.)

The current year's 4.5p in dividends (including capital) might become a new norm.

[jonwig] 28/6/2011 11:13

hxxp://www.mavencp.com/venture-capital-trusts/our-vct-range/migvct




42,537,725 shares in issue (29/08/13)



MIG2:

MIG3:

MIG5: