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ProductUnicorn AIM VCTPembroke VCTMaven VCTs
Offer Size NOW OVERSUBSCRIBED£40 million£30 million
Over AllotmentNOW OVERSUBSCRIBED£20m(including £10m over-allotment facility)
Minimum Investment£3,000£5,000£5,000 (minimum £1,000 per VCT)
Initial Charge3.0% Advised, 5% direct2.5% (before early investment discount)
AMC/Ongoing ChargeThe Investment Manager receives an annual management fee of an amount equal to 2.0% of the net assets of the Company up to net assets of £200 million, 1.5% of the net assets of the company from £200 million to £450 million and 1.0% of the net assets of the Company in excess of £450 million (together with any applicable VAT).2%
VCT 1 - 2% per annum
VCT 3 - 2.5% per annum
VCT 4 - 2.5% per annum
VCT 5 - 1.75% per annum
OCF//
Performance Fee20% of the amount by which cumulative realised investment gains exceed cumulative realised investment losses. For full details, see the prospectus.VCT 1 - 10% of the net asset value total return in relation to each financial year.
VCT 3 - 15% of any increase in the total return.
VCT 4 - 20% of any increase in the total return.
VCT 5 - 15% on net realisations from private equity investments; and 7.5% of increase in value of the quoted portfolio.
Enhanced Terms Existing investors
1.0% discount for completed applications and cleared funds by 31st December 2023 (capped at the first £5 million received).

New investors
0.5% discount for completed applications and cleared funds by 31st December 2023 (capped at the first £5 million received).
An Early Investment Incentive is available on applications received (with funds) by 31 January 2024, offering a discount of:

1.5% on the initial cost for existing Maven shareholders and 1.25% for new investors.
Offer Close Date28 March 2024, 5:30pm (or earlier if fully subscribed at the Board’s discretion).Tax Year 2023/24 - 12 noon on 5 April 2024
Tax Year 2024/25 - 3pm on 28 June 2024
Tax Year 2023/24 - 9am on 5 April 2024

Tax Year 2024/25 - 9am on 26 April 2024
Minimum Investment Period5 years5 years 5 years
LiquidityDaily & VCT offers monthly buybacks, subject to Board approvalBuyback subject to board approval Company buy back policy available - 5% discount to NAV
Investment ObjectiveCapital Growth & IncomeProvide attractive income and capital returnCapital Growth & Income
Manager Unicorn Asset ManagementOakley Capital GroupMaven Capital Partners
Tax-free GrowthYesYesYes
Tax-free DividendsYesYesYes
Income Tax ReliefYesYesYes

 

 

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