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(Alliance News) - Maven Income & Growth VCT 4 PLC on Friday reported a fall net asset value for the first half of 2020.
For the six months to the end of June, total net assets stood at GBP72.6 million, 32% higher than the GBP55.2 million reported the same date the year before.
Per share, however, net asset value fell by 11% to 64.73 pence from 72.73p the prior year.
Maven attributed this to its investment manager taking a small number of provisions against specific private company holdings, particularly those with exposure to consumer facing sector, hardest hit by the coronavirus pandemic.
Maven Income & Growth 4 proposed an interim dividend of 1.00p per share, down from 2.00p the year before.
The venture capital trust said it has invested GBP4.5 million in eight new private and four AIM-listed companies, with a further five investments completed after the end of the period.
During the six months, the trust gained GBP940,000 through the realisation of AIM quoted assets.
"Notwithstanding the unforeseen difficulties presented by the Covid-19 pandemic, your company remains well positioned, benefiting from a diverse portfolio of younger companies seeking to achieve significant growth and scale, together with a number of more established and mature private and AIM quoted investments. The strategy for the second half of the financial year will remain focused on cautiously expanding and further developing the portfolio," the company stated.
Shares in Maven Income & Growth VCT 4 were untraded on Friday, last quoted at 60.00 pence in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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