Puma Investments has launched the Puma AIM VCT, the first new AIM VCT to be launched in the market for 17 years.
The launch reflects the improving economic environment and demand from the financial adviser and wealth management community. The VCT will be managed by the experienced investment team (led by Dr Stuart Rollason, Investment Director) behind the Puma AIM IHT Portfolio Service. The team will also be joined by Daniel Cane, Investment Director, from Toscafund Asset Management.
The Puma AIM VCT will capitalise on Puma’s deep AIM experience, the Puma AIM IHT Portfolio (launched in 2014) has delivered +103.92% cumulative performance since inception with a compound annual growth rate of +7.38%1. In addition, Puma is an established VCT manager, Puma VCTs have collectively raised over £380 million since launching in 2004. The launch follows the recent news that HM Treasury has formalised the extension of the VCT Sunset Clause to 2035.
The Puma AIM VCT aims to deliver compelling returns through investments in companies that are traded on AIM, while delivering the full range of VCT tax reliefs. The VCT will target companies that are still small enough and young enough to grow and create meaningful investment exits. It intends to invest in scale-up businesses with a proven commercial proposition (product or service) and management teams with deep knowledge of the sector in which they operate.
The investment team has a collective track record of over 50 years investing in AIM and will be led by Investment Director, Dr. Stuart Rollason, who has been working in the AIM market since its inception in 1995. Prior to joining Puma in 2021 he led Kestrel Partners LLP AIM IHT service for a decade. In addition, he has experience in managing both AIM VCTs and other investment trusts. Daniel Cane has joined the team from Toscafund Asset Management, where he spent 16 years with a particular emphasis on small and mid-cap companies and was part of the AIM-focused Toscafund Micro Cap Fund investment team. Joseph Cornwall, Investment Manager, joined Puma Investments in 2021 and previously led the AIM IHT service at Gore Browne Investment Management for five years.
Dr. Stuart Rollason, Investment Director, Puma Investments, comments: “We believe that following two consecutive economic shocks, the improving economic climate means that there will be strong appetite for companies to launch on AIM. This puts us in a positive position to deploy capital to support the management teams of a broad range of growth companies at favourable valuations.
“Utilising our thorough selection criteria we will target AIM companies that are moving away from the start-up stage, have undergone earlier stages of research and development, and have overcome the associated hurdles. We will seek companies that have already established some market presence, and where the proposition has been commercially validated.”
David Kaye, CEO of Puma Investments, comments: “Puma Investments grew out of the Shore Capital Group, the third largest market maker on AIM with close to 40 years of trading in the UK public markets. As a business, we are proud of the long track record we have in supporting so many SMEs’ growth journeys.
“Our Puma AIM IHT Service is testament to our strength in identifying and investing in companies with the potential for high growth. We see significant opportunities on AIM and following demand from financial advisers, our dedicated and experienced investment team is committed to leveraging these opportunities to deliver value to our investors. We’re delighted to have launched the Puma AIM VCT, the first new AIM VCT in 17 years.”
In addition to our specialist investment team, the Puma AIM VCT also benefits from a highly experienced independent board. Jonathan Di-Stefano, who has been appointed as Independent Chair, has over 20 years’ experience in AIM listed real estate companies and was previously non-exec Chairman at Belvoir Group Plc. Lynn Drummond, Independent Director, has a long career in the pharmaceutical and life sciences sectors and is currently Chair of Zotefoams plc. Eliot Kaye, Non-Independent Director sits on the Puma Investments Board and has responsibility for the fund management of the Puma VCTs.
As with all VCT investments, investors in Puma AIM VCT can benefit from2:
- Upfront 30% income tax relief available to UK taxpayers on an investment of up to £200,000 per tax year
- 100% tax-free dividends
- 100% tax-free capital gains on the sale of Company shares
