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17 Jan 2019 14:48
Triple Point VCT 2011 plc
LEI: 213800AOOAQA5XQDEA89
17 January 2019
Interim Management Statement for the quarter ended 30 November 2018
Highlights
The Company
The Company's funds at 30 November 2018 were 99% invested in a portfolio of VCT qualifying and non-qualifying unquoted investments. It continues to meet the condition that 70% of relevant funds must be invested in qualifying investments.
Venture Fund
The Company and the Investment Manager continue to raise funds for the Venture Share Fund which is progressing well.
The Venture Shares will aim to acquire a portfolio of Qualifying Investments in early stage companies, capable of generating significant long-term capital growth, whilst also enabling investors to take advantage of the substantial tax reliefs available to Investors in VCTs, including 30% income tax relief on amounts invested and tax-free dividends and capital gains.
A Share Class
· The Net Asset Value at 30 November 2018 was 106.50p per share.
· During the 9-month period to 30 November 2018 the A Share Class made a profit of 2.35p per share.
· The A Shares unquoted investment portfolio by sector at 30 November 2018:
Hydro Electric Power 67%
SME Funding Hydro Electric Power 17%
SME Funding Other 16%
B Share Class
· The Net Asset Value at 30 November 2018 was 99.86p per share.
· During the 9-month period to 30 November 2018 the B Share Class made a loss of 0.14p per share.
· The B Shares unquoted investment portfolio by sector at 30 November 2018:
Gas Power 75%
SME Funding Other 25%
Net Assets at 30 November 2018:
| 30-Nov-18 |
| 28-Feb-18 | ||||
| Unaudited |
| Audited | ||||
| A Shares | B Shares | Total |
| A Shares | B Shares | Total |
| £'000 | £'000 | £'000 |
| £'000 | £'000 | £'000 |
VCT qualifying unquoted investments | 6,577 | 5,100 | 11,677 |
| 6,577 | 5,100 | 11,677 |
VCT non-qualifying unquoted investments | 3,167 | 1,710 | 4,877 |
| 3,167 | 1,710 | 4,877 |
Cash and cash equivalents | 187 | 48 | 235 |
| 274 | 79 | 353 |
Total Investments | 9,931 | 6,858 | 16,789 |
| 10,018 | 6,889 | 16,907 |
Other assets & liabilities | 665 | (43) | 622 |
| 619 | (63) | 556 |
Net assets | 10,596 | 6,815 | 17,411 |
| 10,637 | 6,826 | 17,463 |
Net asset value per share | 106.50 | 99.86 | n/a |
| 106.90 | 100.00 | n/a |
For further information, please contact Ben Beaton or Belinda Thomas at Triple Point Investment Management LLP on 0207 201 8989.
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