The Lemon Fool

Looks like AMATI don't think the AIM market is going to recover anytime soon. So they might be going the hybrid route, a bit like Baronsmead/Seneca.
Although "a broader range of securities", could mean many things, especially if they are none qualifying investments.

https://data.fca.org.uk/artefacts/NSM/RNS/5103966.html

As part of this review, the Board intends to consider whether the Company's investment strategy should be expanded to facilitate investment in a broader range of securities

CrackAddick wrote:Looks like AMATI don't think the AIM market is going to recover anytime soon. So they might be going the hybrid route, a bit like Baronsmead/Seneca.
Although "a broader range of securities", could mean many things, especially if they are none qualifying investments.

https://data.fca.org.uk/artefacts/NSM/RNS/5103966.html

As part of this review, the Board intends to consider whether the Company's investment strategy should be expanded to facilitate investment in a broader range of securities

They are certainly in a sticky spot. On looking at the 5 year total return graph (from Hargreaves Lansdown) the 5 year total return is -9%, however looking back to October 21 on the graph, it peaked at +80%. Its not just a feature of Amati. Looking at Octopus AIM VCT on the same graph - it peaked around +60% in October 21, but its 5 year total return was -11%. And looking at the AIM 100 and AIM Allshares on the same graph, their 5 year total returns were -19% and -11% - and they peaked around +40% and +45% in October 21.
In complete contrast, British Smaller Cos VCT where

The majority of the Company’s investments are in small, unquoted companies

have a 5 year total return is +72%. So unless there is a remarkable turn-around in the AIM markets, it would appear that a "broader range of securities" may be a wiser choice.

I feel that the general weakness in smaller caps and particularly in the AIM market is the current source of poor total returns for VCTs. Certainly true for me. Most dividends are accompanied by a drop in NAV at present. I am considering some AIM VCTs next (one does need to be brave sometimes) although I have ever only held one pure AIM VCT, that did well au fin du jour but was a bit of a roller coaster on the way. I feel that some of the older AIM trusts are competent. I dont need any more of most of the older trusted names and feel that some of the up and coming VCTs lack gravitas.

I have always pursued a fairly undiscerning broad spread of VCTs. The Albions and one or two others seem resilient but breadth measurements with the AIM and VCT markets seem to be depressingly pointing downwards.

If the acquirers of Mattioli Woods are not interested in the 49% of Amati ownership, possible?, I would have thought Dr Paul Jourdan will need another partner. I could speculate that a stake in Amati might fit with one of the other general VCT houses. Amati has been busy diversifying into a range of Unit Trusts and AUM. All to be revealed I guess.
I did think about an Aim VCT investment this tax year given can it get worse view, but not brave enough.