(Alliance News) - Four Oxford Technology VCTs on Monday all reported rises in net asset value during their first half, as the companies continue their steady recovery from the previous year heavily impacted by the coronavirus pandemic.
Oxford Technology VCT PLC saw its net asset value per share in the six months to August 31 lift 3.4% to 51.4 pence from 49.7p at the end of February. Net assets grew marginally in the six months to GBP2.8 million in August from GBP2.7 million at the end of February.
As with a year earlier, the venture capital trust did not declare a payout.
Oxford Technology 2 VCT posted a 13.3% rise in net asset value per share in the six months to August 31 to 28.1 pence from 24.8p at the end of February. Net assets were slightly higher at GBP1.5 million at the end of August from GBP1.3 million six months prior. Oxford Technology 2 VCT did not declare an interim dividend, unchanged from a year earlier.
Net assets at Oxford Technology 3 VCT rose 10% to GBP3.2 million from GBP2.9 million six months before. While the NAV per share rose to 47.0p at August 31, up from 42.2p six months earlier. The company notes that "it would be preferable to have a larger asset base" to share the operating costs of company's for which it is holding investments".
The company declared a 6p per share interim dividend.
Oxford Technology 4 VTC grew net assets by 20% to GBP3.6 million at the end of August from GBP3.0 million six months earlier. Net asset value grew to 31.0p per share from 26.4p in the same timespan.
An interim dividend was scrapped by the company after it made a 5.0p per share payout a year earlier.
A number of the venture capital trusts said they are currently in talks with parties who are potentially interested in entering the VCT industry.
By Will Paige; willpaige@alliancenews.com
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Oxford Technology 2 VCT (OXH)