8th Nov 2024 12:47
(Alliance News) - Puma Alpha VCT PLC and Puma VCT 13 PLC on Friday reported declines in their net asset values on-year.
Both trusts invest in companies that have "graduated from start-up to scale-up" and in the six months to August 31, Puma Alpha VCT said its NAV fell to 107.45 pence, down from 108.35p in February this year and 123.50p on-year.
However, it reported that there were three write-ups within the portfolio throughout the period, namely CameraMatics by GBP1.3 million, Ron Dorff by GBP900,000 and Pockit by GBP500,000.
Its shares were untraded at 112.50 pence on Friday afternoon in London.
The trust did not declare an interim dividend, down from 5p the previous year.
Puma VCT 13 said its NAV grew to 127.56p from 124.48p in February, but fell from 131.18p on-year.
Puma VCT 13 shares were also untraded at 122.50 pence on Friday afternoon in London.
The trust confirmed its previously declared interim dividend of 3p per share, up from nothing the prior year.
VCT 13 Chair David Buchler said: "As we approach the end of 2024, the UK economy is navigating a landscape of modest growth. The economy is projected to grow by around 0.5% to 1.1% for the year, reflecting ongoing adjustments post-Brexit and the global economic environment.
"Looking ahead to 2025, consensus forecasts are for growth to strengthen a bit, reflecting increased government investment and a less tight monetary squeeze.
"Our VCT is strategically positioned to capitalise on ... opportunities by investing in dynamic and high-potential new companies."
By Christopher Ward, Alliance News reporter
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