Northern AIM VCT releases full year results

Northern AIM VCT's net asset value per share as at 31 October 2004, before deducting dividends of 6.8p declared in respect of the year, was 71.1p. This represents a fall of 3.3% from the corresponding figure of 73.5p at 31 October 2003; over the same period, on a total return basis, the FTSE AIM index rose by 23.6%. Compared with the opening position (net of issue expenses) of 95.0p when Northern AIM VCT was launched in October 2000, the October 2004 net asset value of 64.3p after dividends is down by 32.3% whilst the AIM index has fallen by 40.9%. During the year eight new AIM-quoted holdings were added to the portfolio at a cost of £1.8m and one unquoted investment was completed at a cost of £300,000. At 31 October 2003, the venture capital portfolio comprised unquoted and AIM quoted holdings in approximately equal amounts, but over the past year the balance has shifted to approximately 60:40 in favour of AIM investments.

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