Albion 2016/17 Offers

[thebarns]

I think their 2016/17 offers are due to be published on their website tomorrow.

Appear to be a pretty reliable stable and not one I hold as yet, so think I may well go for their offer this year.

It may fill reasonably quickly but not at the rate of a Baronsmead or Northern offering.

[BusyBumbleBee]

Well, TheBarns, you may find that AAVC - arguably their best VCT - fills up quite quickly. Two of the others have given profit warnings. So... if you are keen don't hang back.

[UncleEbenezer]

Well, TheBarns, you may find that AAVC - arguably their best VCT - fills up quite quickly. Two of the others have given profit warnings. So... if you are keen don't hang back.

Two?

I know Crown Place has cut the divi, but that's not exactly a profit warning, just bowing to the inevitable. Nor was it any surprise: I had foretold it in the Other Place. Which other fund are you talking about?

I also hold Kings Arms Yard - one that fills more slowly - and it's currently beating AAVC in my spreadsheet. A small capital gain more than offsets the lower yield, though the difference is within the bounds of statistical noise.

[thebarns]

Profit warnings ?

I note that some VCTs, including some of the Albion stable, have indicated a reduction or potential reduction in dividend payouts in future years, whilst still indicating pretty healthy future yields.

Is it not the case that some are just wanting to stop eating themselves by paying out unsustainable and high levels of dividends, which have historically in some cases been funded from eating into the capital.

I think it is reasonably sensible to reduce really high dividend yields to more modest but still decent yields to stop the capital erosion.

[DRB79]

Well, TheBarns, you may find that AAVC - arguably their best VCT - fills up quite quickly. Two of the others have given profit warnings. So... if you are keen don't hang back.

BumbleBee any more info/opinion on AAVC being their best VCT?

Yield seems good for a mostly asset backed VCT, obviously historical performance also good. Anything else in particular you think is an additional positive for AAVC?

Thanks!

[BusyBumbleBee]

Apart from CRWN, this one from the Albion Stable has given a 'profit warning: (this in itself results from the merger of two previous Albion funds)

From Albion Tech&Gen VCT Albion Technology & General Vct Plc - Ordinary Shares : Interim Management Statement
22/11/2016 1:03pm

Dividend target from 2017

The Company paid dividends totalling 5.0 pence per share during the
financial year in line with the Company's policy, which it has
maintained for the last six years. For most of this period, however, the
dividend has not been fully covered by total returns, resulting in a
gradual decline in NAV per share over the years. In an economic
environment of persistently low interest rates, the Board considers a
recalibration of the annual dividend target to 4.0 pence per share to be
more appropriate, representing a dividend yield on current NAV of 5.7
per cent. This target will apply from 2017.

[BusyBumbleBee]

I haven't has yet found a way to reply directly to a post - unless it is the last one - but I was asked

Yield seems good for a mostly asset backed VCT, obviously historical performance also good. Anything else in particular you think is an additional positive for AAVC?

IT just seems that Albion are good at finding Asset backed themes. AAVC has already got a good portfolio of asset backed assets (including some 'green ' ones) that give a good yield which seems secure. It is the most asset backed of all the Albion VCTs, an area in which Albion seems to have a particular strength: and so I do not see a dividend cut coming here.

[DRB79]

Thanks. Agree with your point re their ability to find good asset backed investments.

Application form mailed today - hopefully I get allocated what ive asked for - not sure how soon previous offers have closed due to demand!

[thebarns]

Got mine away in the mail as well today !

Next ones on the radar in January are Northern and British Smaller, possibly Unicorn Aim.

[james188]

I am rather surprised that full details of the Albion offers are not yet posted on the Club Finance open offers website. Going through them is usually the most cost efficient way to take up shares and they are normally geared up almost as soon as the offers go live. That said, I am assuming that the details do not immediately pop up if you complete the 'Register your interest" form on the site.

[oxmatt]

I think Clubfinance do a great job at getting the details up asap for issues which are likely to fill up in a matter of days. I don't think it is quite so necessary for issues like this one which should remain open for a few weeks at least.

[oxmatt]

Documents now available on club finance.

[Mark]

Filled 5.5 of the 7.5m offer according to the latest clubfinance email.

[timbo003]

Albion will be presenting at the ShareSoc Investment Seminar on Wednesday February 8th starting 16;30 at the offices of finncap, 60 New Broad Street, London, E22M 1JJ

http://www.sharesoc.org/london-feb.html

There will be four companies/managers presenting: Orchard Funding, Ilika, Albion, and Cerillion,

Food and drink is provided after the meeting (and drinks at half time). It's free for members and there as small charge for non-members to cover the cost of refreshments.

Numbers are strictly limited and attendance will be on a first-come first-served basis - so if you would like to go along, you should register your attendance now to avoid disappointment!

[sinterklaas]

ICYMI:
5 of the Albion VCTs (i.e. all except for Albion Development) have gone into over-allotment – now raising £6m each instead of £4m…

http://www.investegate.co.uk/albion-tec ... 2927H3025/

[naflod]

Albion Development VCT have today announced that their offer has closed, having reached its £4million target.

http://www.londonstockexchange.com/exch ... 11036.html

naflod

[IJ49]

The Albion offers closed yesterday for all the VCTs which is a good result for Albion.

I was allotted shares in Albion Enterprise in the first close on 31 January and these qualified for the dividend payable next week of 2.5p per share which was a nice surprise.

IJ49