Puma winds up three VCTs

Ellie Pullen
17 October 2013

Tweet
Facebook
LinkedIn
Google plus
Send to

Puma Investments has this month wound up three of its VCTs, Puma VCT III, Puma VCT IV and Puma VCT V, after the vehicles reached the end of their five-year lifespans.

The shareholders of the three VCTs agreed unanimously to place the funds into members' voluntary liquidation. Puma VCT III and IV were delisted in October 2011 and wound up earlier this month.

Puma VCT III and IV raised a combined £39m in 2006. The two vehicles have distributed 93.3p per share and 94.6p per share respectively, giving an IRR of approximately 9.7% per annum.

Puma VCT V, which raised £7.5m in 2008, is set to return 106p per share in cash distributions to its shareholders, which would make it the most successful limited-life VCT for Puma to date. Earlier this month, the fund paid a 21p dividend, taking total cash distributions to date for the fund to 40p per share.

Puma has raised nine VCTs to date and is about to commence fundraising for VCT 10. Its most recent VCT, Puma VCT 9, was recently closed on £28.1m.

Puma VCT 10 has a minimum subscription amount of £5,000 and a maximum of £200,000. The fund has an annual management charge of 2% and is set to close in April 2014.