(Alliance News) - Mercia Asset Management PLC on Friday said its three Northern Venture Capital Trusts have raised GBP38.2 million.
Mercia said London-listed Northern Venture Trust PLC, Northern 2 PLC VCT and Northern 3 PLC VCT raised the funds through share offers launched in January, adding that the amount brings its total assets under management to around GBP740 million.
"We are pleased by the successful fund raising of GBP38.2 million, despite the challenging market environment, reflecting continuing confidence in the reputation and track record of the NVM VCT portfolios and the investment team managing them," said Mercia Chief Executive Mark Payton.
Mercia shares were trading 1.9% lower at 17.75 pence each on Friday afternoon in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Mercia Asset (MERC)
Northern Venture Trust (NVT)
Northern 2 Vct (NTV)
Northern 3 Vct (NTN)