Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

Selling VCT holdings

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
SpinDoctor
Posts: 46
Joined: November 9th, 2016, 9:07 pm
Has thanked: 1 time
Been thanked: 28 times

Re: Selling VCT holdings

#485945

Postby SpinDoctor » March 11th, 2022, 9:04 pm

I have a few Proven G&I. They are likely to update NAV shortly, with buyback a few days afterwards, at or marginally inside the quoted spread.

If only all the decent sized mature VCTs had decent liquidity - such as Baronsmead, Ventus (RIP) and others in my experience.

Bgsbgs
Posts: 22
Joined: April 20th, 2021, 8:18 am
Has thanked: 5 times
Been thanked: 6 times

Re: Selling VCT holdings

#489885

Postby Bgsbgs » March 28th, 2022, 11:28 pm

I have some Amati VCT shares to sell via HL (I can’t use any other broker). What is the best way to sell them? Can I do any better than placing a market order?

Boots
2 Lemon pips
Posts: 177
Joined: August 1st, 2021, 2:51 pm
Has thanked: 153 times
Been thanked: 116 times

Re: Selling VCT holdings

#494033

Postby Boots » April 13th, 2022, 3:35 pm

I tried to sell a couple of VCTs a few days ago via Interactive Investor. They were Proven VCT and Proven Growth and Income VCT. It didn't prove especially easy. The online system said that these shares could not be traded online and provided a link to a list of reasons why not - none seemed to apply in this situation. There was a further link to advice on what action to take, which was broadly a telephone trade at £49 each transaction, instead of £7.99.

I called to discuss it. When I eventually got through I was told, "oh no, it's not like that". I should call the telephone dealers so they could go through the options because of the limited liquidity of VCTs but I wouldn't be charged £49. I was able to sell one (Proven Growth & Income) into the open market whilst on the phone. The Proven VCT, there was no-one making a market price, so I was placed on the buyback list. Both of these were done at the normal web price of £7.99.

I previously sold a holding of Foresight Enterprise without problem, I placed an online sale order, was told online it would take a while to action and heard back an hour or two later it had gone through at the market price.

I wonder if something has changed? The market liquidity has reduced? Or perhaps the takeover by Aberdeen (or whatever stupid name they are using today).

Has anyone else noticed any changes? I am tempted to use Jarvis XO if their process is slicker.

UncleEbenezer
The full Lemon
Posts: 10689
Joined: November 4th, 2016, 8:17 pm
Has thanked: 1458 times
Been thanked: 2965 times

Re: Selling VCT holdings

#494037

Postby UncleEbenezer » April 13th, 2022, 3:54 pm

Boots - my experience is that sales can be surprising.

I sold several VCT holdings three years ago when raising funds to buy a house. The only one that proved problematic was long-term-reliable (at the time) top performer Baronsmead, where I was limited to a much smaller sale than intended.

Buying in the secondhand market can also be 'interesting'. Though that's probably because the times one wants to buy secondhand are when a VCT is troubled and on a juicy discount.

IJ49
Posts: 32
Joined: November 7th, 2016, 6:36 pm
Has thanked: 12 times
Been thanked: 11 times

Re: Selling VCT holdings

#494101

Postby IJ49 » April 13th, 2022, 7:42 pm

I tried to buy some VCT shares to top up a holding and had the same message as mentioned above. I phoned to query and the Trading Desk spoke to the Trade Management team who advised that there were problems dealing innVCT shares. I sent a message to ii and the reply was that due to liquidity and availability issues "some" VCT shares could only be traded by phone. I have queried this asking which VCTs were affected and advsing as most have active buy-back programmes should there be aby issues.

In my view it is nonsense particularly for the more active VCTs.

I await a reply.

ij

Snowbadger
Lemon Pip
Posts: 94
Joined: December 21st, 2016, 12:32 pm
Has thanked: 12 times
Been thanked: 72 times

Re: Selling VCT holdings

#522862

Postby Snowbadger » August 16th, 2022, 1:56 pm

Hi All,
opened an XO account and transferred them my certs a few months back to raise funds for some autumnal purchases. Wanted to offload my two Baronsmeade holdings as they have gone ex-div. Emailed Gresham house about buybacks and was given Chris Lloyds e-mail at Panmure Gordon. E-mailed Chris at 13.07 and had an instant response telling me that he was trading until 12.00 but would hold on till 1.30 otherwise I have to wait until next buyback. Spoke to XO and Boom! 13.45 e-mail to say sales completed. Stunning service.
As always, thanks for all your advice,


SB

deltrotter
Lemon Pip
Posts: 63
Joined: November 22nd, 2016, 7:01 am
Has thanked: 54 times
Been thanked: 5 times

Re: Selling VCT holdings

#522865

Postby deltrotter » August 16th, 2022, 2:33 pm

Great to know, thank you.

I haven't sold any holdings but have transferred 5 VCTs in.

Thus far x-o have been impeccable.

Strongly considering them for my ISAs as well.

Snowbadger
Lemon Pip
Posts: 94
Joined: December 21st, 2016, 12:32 pm
Has thanked: 12 times
Been thanked: 72 times

Re: Selling VCT holdings

#523154

Postby Snowbadger » August 17th, 2022, 3:06 pm

Just had an e-mail from chris.lloyd@panmure.com to say that he deals with 40 of the available 55 vcts. So may be a useful contact if anyone is looking for buybacks.

Regards,

SB

onslow
2 Lemon pips
Posts: 148
Joined: September 9th, 2017, 4:29 pm
Has thanked: 169 times
Been thanked: 66 times

Re: Selling VCT holdings

#523441

Postby onslow » August 18th, 2022, 11:44 am

With Chris at Panmure do we have to garner his interest first, and then tell XO to make contact with him?

(I'm in the process of depositing a lot more VCT shares to XO!)

Snowbadger
Lemon Pip
Posts: 94
Joined: December 21st, 2016, 12:32 pm
Has thanked: 12 times
Been thanked: 72 times

Re: Selling VCT holdings

#523464

Postby Snowbadger » August 18th, 2022, 12:47 pm

Jarvis deal directly with Chris. You may want to check with Chris beforehand to see when there is a buyback. I was lucky that I contacted him twenty minutes before he stopped trading. As the trade went through Jarvis my name wasn't on the deal so he sent me a further e-mail with dates of the next buyback.

Regards,

SB

Mainwaring
Lemon Pip
Posts: 80
Joined: November 4th, 2016, 7:57 am
Has thanked: 7 times
Been thanked: 46 times

Re: Selling VCT holdings

#569913

Postby Mainwaring » February 21st, 2023, 9:09 am

Great thread here thanks which points me to XO.

Can anyone confirm whether XO did their VCT/buyback trades for £5.95? Seems excellent value in addition to a simple online selling process, if 2 steps rather than 1.

Cheers

EarnestHummingbird
Posts: 15
Joined: February 19th, 2022, 10:14 am
Been thanked: 8 times

Re: Selling VCT holdings

#570141

Postby EarnestHummingbird » February 21st, 2023, 8:51 pm

I use XO and they do charge £5.95 for VCT sales (probably purchases too).
Service is good.

Mainwaring
Lemon Pip
Posts: 80
Joined: November 4th, 2016, 7:57 am
Has thanked: 7 times
Been thanked: 46 times

Re: Selling VCT holdings

#570440

Postby Mainwaring » February 23rd, 2023, 8:13 am

Thank you.


Return to “Venture Capital Trusts (VCT's)”

Who is online

Users browsing this forum: No registered users and 10 guests