11th Aug 2015 13:17
LONDON (Alliance News) - Mobeus Income & Growth 4 VCT PLC Tuesday said its net asset value total return per share for the first half of 2015 was 2.6% after taking into consideration a second interim dividend of 8.00 pence it paid for 2014.
The venture capital trust said its net asset value per share as at June 30 was 113.33 pence, compared to 118.21p at the end of 2014. The trust said its investment portfolio recorded a gain of GBP1.53 million during the first half.
It proposed an interim dividend of 2.00 pence per share.
Mobeus noted that the recently announced summer budget set out a number of new rules for VCT legislation which will change its future investment strategy. It is expected that VCTs will no longer be allowed to finance management buyouts.
In the longer term the trust does anticipate a reduction in the range of companies it would consider as potential investments, although it said the precise details and implications for its future investment programme will only be fully clear when the legislation is enacted. It said it is "carefully considering these matters and will advise shareholders in due course."
"Confidence in prospects for the UK economy is growing and the Investment Adviser's deal flow is strong. The investment focus is on building the portfolio, both by making new and follow-on investments," the company said in a statement.
Shares in the trust were untraded Tuesday afternoon. It last closed at 1.4% at 97.62 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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