|Product||Unicorn AIM VCT||Pembroke VCT||Maven VCTs|
|Offer Size||OFFER NOW CLOSED||£40 million||£30 million|
|Over Allotment||None||£20m||(including £10m over-allotment facility)|
|Minimum Investment||£3,000||£5,000||£5,000 (minimum £1,000 per VCT)|
|Initial Charge||2.5%||3.0% Advised, 5% direct||2.5% (before early investment discount)|
|AMC/Ongoing Charge||With effect from 1 January 2022|
Up to £200 million - 2.0% per annum as at the relevant quarter date
In excess of £200 million & up to £450 million - 1.5% per annum as at the relevant quarter date
In excess of £450 million - 1.0% per annum as at the relevant quarter date
|2%||VCT 1 - 2% per annum
VCT 3 - 2.5% per annum
VCT 4 - 2.5% per annum
VCT 5 - 1.75% per annum
|Performance Fee||None||20% 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).
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 Date||31 March 2022 (or, if earlier, as soon as the Offer is fully subscribed or otherwise 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 Period||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 - 5% discount to NAV|
|Investment Objective||Capital Growth & Income||Provide attractive income and capital return||Capital Growth & Income|
|Manager||Unicorn Asset Management||Oakley Capital Group||Maven Capital Partners|
|Income Tax Relief||Yes||Yes||Yes|