Corona Virus & VCT NAVs

[127tolmers]

https://www.investegate.co.uk/hargreave ... 0211H2324/

Investment report

Having gone to great lengths to reduce CV-19 infection rates, most Governments have now taken steps to re-open their economies through the relaxation of lockdown measures and very substantial fiscal and monetary stimulus.

Although the shape of the recovery remains the subject of much debate, these interventions catalysed a strong rebound in equity markets through April and May, providing positive support to the (unaudited) NAV. The momentum fell away in late May as the more optimistic predictions came under pressure from continuing reports of large outbreaks in the Americas, second waves in SE Asia and economic releases confirming the devastating impact of CV19 on the global economy.

Performance

In the three months to 30 June 2020 the unaudited Net Asset Value (NAV) increased from 56.7p to 66.59p, equivalent to a gain of 17.4%. During the same period, the FTSE AIM All-Share Total Return index gained 29.7%, whilst the FTSE All Share Total Return index gained 10.2%. The qualifying investments made a net contribution of 7.9 pence per share whilst the non-qualifying investments gained 2.3 pence per share. The adjusting balance was the net of running costs and investment income.

Fundraising update

The Board is pleased to announce that, further to the announcement made on 22 June 2020, preparations to launch a new offer for subscription (the "Offer") are progressing well. Subject to receiving shareholder approval for the issue of new shares under the Offer, the Company is seeking to raise up to £20 million together with an over-allotment facility to raise up to a further £10 million.

[onslow]

Surprised to see a large divi declared by one of the Mobeus VCTs earlier today - The Income & Growth VCT declared a 11p interim divi

https://www.londonstockexchange.com/new ... n/14664736

Recent announcements around realisations dont show a huge uplift in NAV.

Not complaining though! Lets see if its followed by any other Mobeus VCTs

[UncleEbenezer]

Surprised to see a large divi declared by one of the Mobeus VCTs earlier today - The Income & Growth VCT declared a 11p interim divi

https://www.londonstockexchange.com/new ... n/14664736

Recent announcements around realisations dont show a huge uplift in NAV.

Not complaining though! Lets see if its followed by any other Mobeus VCTs

This is not new with coronavirus: Mobeus have been returning capital for some years now. Very successfully, too. Enjoy it while it lasts!

[scotia]

The Income & Growth VCT (IGV) reported 3 realisations in February, and 1 in August. The total realisations into IGV for these investments were:-
Turner Topco (Auction Technology) £5.27M
Pattern Analytics (Biosite) £2.65M
Redline £1.43M
Tovey Management (Access IS) £7.15M
Total = £16.5M; No of Shares = 116M; 14.2p per share
A Dividend of 3p was paid on 10th July. A Dividend of 11p will be paid on 28th September.
So from a simplistic calculation it looks like we are getting back the total realisation amounts as dividends.
It will be interesting to see what the other Mobeus VCTs do. (I own IGV and MIG4).