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LONDON (Alliance News) - Maven Capital Partners, the Glasgow, Scotland private equity house, Friday said that its GBP18 million venture capital trust offers are fully subscribed and closed for further applications.
According to Bill Nixon, managing partner at Maven, the news means Maven is the first manager to see its VCT offers fully subscribed this year.
"Almost 1000 investors have subscribed to the Maven offers since they were launched in late October. We are also very encouraged by the continuing support for VCTs, which have become established as a mainstream investment product as most successful generalist managers have, like Maven, established a track record of steady growth in NAV, in tandem with attractive tax free yields," Nixon said.
"In an environment of continuing low interest rates for savers, and reduced scope for pension contributions, VCTs continue to offer investors exposure to something interesting and different, as part of their overall portfolio," Nixon said.
The VCTs in question are Maven Income and Growth VCT PLC, Maven Income and Growth VCT 2 PLC, Maven Income and Growth VCT 3 PLC, Maven Income and Growth VCT 4 PLC, and Maven Income and Growth VCT 5 PLC
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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