RENSBURG AIM VCT

  • 0.00p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.80%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 2.80%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.00%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

This is a top up offer for an existing VCT which has already achieved the minimum 70% qualifying investment level. New investors will benefit from the board's commitment to make a minimum 3p p.a. distribution over the next 3 years. In addition the board intends to give shareholders the option of a 30% tender offer at year 3 funded by non qualifying holdings. Where a shareholder does not exercise his tender rights they will be offered to other shareholders. More than 90% of the existing shareholders qualified for CGT rollover relief and may be unlikely to tender their shares. The team is experienced and the overall combination is worth considering, especially by investors hoping to exit soon after the three year period.

Fund summary

Sector VCT AIM Quoted
Structure X-VCT
Launched
Size £14m
Yield 0.00%
Charging basis
Dividends paid Jun, Dec

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 1.80%
Ongoing charges figure 2.80%

Allocation

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Investment process

The portfolio is currently invested across 43 qualifying which represent 59% of NAV. The balance is invested 18% in Rensburg unit trusts, 18% in blue chip equities and 5% in fixed income. Qualifying investments are well diversified by sector exposure. Qualifying AIM investments will consist mainly of secondary placings. IPO and pre IPO investments will tend to account for a smaller proportion of the fund. The emphasis will be on companies that are profitable or close to profit, which marks a change to a more conservative investment approach compared to earlier years. The fund is also likely to have a bias to AIM based companies in the M6 corridor, leveraging off Rensburg’s local network of contacts. The non qualifying proportion of the portfolio will be invested predominantly across equities via Rensburg UK equity unit trusts and directly held UK blue chip equities. Fixed income is likely to account for a small proportion of this total.

Manager research

Average monthly relative returns

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  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

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  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

Periods of worst performance

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Relative 0.00% ()

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Portfolio

This VCT has already achieved the minimum qualifying investment levels of 70% . In 2005 Rensburg made 9 qualifying investments, totaling £2.6m.

Key Investor Information

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