VCT Matrix

Product	Unicorn AIM VCT CLOSED	Pembroke VCT	Seneca Growth Capital VCT	Triple Point Venture Fund VCT	Maven VCT 1 & 5
Offer Size		£20 Million	£10 Million	£15 Million	£30 Million Joint Offer, raising £15 million in each VCT
Over Allotment		£20 Million	£10 Million	£15 Million	£5 Million for each VCT
Minimum Investment	£2,000	£3,000	£3,000	£3,000	£5,000
Initial Charge	2.5%	3.5%	3%	2.5%	2.5%
AMC/Ongoing Charge	2.2%	2%	2%	2%	VCT 1 - 1.9% VCT 5 - 1.6%
OCF		2.4%	3% p.a. (including AMC of 2% + VAT p.a.)	Capped at 3.5%	Maven VCT 1 - 2.76% Maven VCT 5 - 2.63%
Performance Fee	No	On returns above 3p per share	On returns above 3p per share	20% + VAT on returns in excess of 3% annual compound hurdle	See Securities Note Pg 33
Early Bird Offer		0.5% (for completed applications received by 30th November 2018)	N/A	0.5% (for completed applications received by 30th November 2018)	1.25% new shareholders 1.5% for existing shareholders
Offer Close Date	Now Closed	5th April 2019	5th April 2019	5th April 2019	3rd April 2019
Minimum Investment Period	5 years	5 years	5 years	5 Years	5 years
Liquidity	Daily & VCT offers monthly buybacks, subject to Board approval	Buyback subject to board approval	Company buy back policy available	Company buy back policy available	Company buy back policy available
Exit Charge	N/A	N/A	N/A	N/A	N/A
Target Return	N/A	N/A	N/A	TBC	N/A
Loss Relief	No	No	No	No	No
IHT Relief	No	No	No	No	No
Investment Objective	Capital Growth & Income	Provide attractive income and capital return	Provide attractive income and capital return	Capital Preservation	Capital Growth & Income
Manager	Unicorn Asset Management	Oakley Capital Group	Seneca Partners	Triple Point Investment Managers	Maven Capital Partners
Tax-free Growth	Yes	Yes	Yes	Yes	Yes
Tax-free Dividends	Yes	Yes	Yes	Yes	Yes
Income Tax Relief	Yes	Yes	Yes	Yes	Yes

*Not chargeable on death