Puma VCTs

Puma VCTs adopt our proven asset-backed investment strategy primarily investing in established businesses in the form of ordinary equity offered together with senior-secured loans.  

Our principal focus is on capital preservation, generating stable returns for our investors whilst seeking to offer robust downside protection by identifying businesses and opportunities with substantial asset-backing, including in the form of real estate, stock and contracted receivables. 

Please see Risk Factors below.

£220m+

Raised across 12 Puma VCTs

£30.6m

The largest limited life VCT fundraised for 2015/16 by Puma VCT 12

Learn about Puma VCTs

What are VCTs?

Venture Capital Trusts (VCTs) were launched in 1995 to incentivise investment in smaller companies. Since then over £5 billion has been raised for VCTs and they have become an established fixture in the UK investment landscape. 

Investing in smaller companies carries a higher level of risk than investing in more established companies. So to encourage investment in VCTs, high levels of tax incentives are available to investors. These tax incentives are currently:

Up to 30% income tax relief on the amount subscribed

Tax-free dividends

Tax-free capital gains

The maximum investment in a VCT is £200,000 per person per tax year.

Whilst the tax advantages are very attractive, investors need to hold shares in the VCT for a minimum of 5 years to maintain the initial tax relief. As with all investments, VCTs do carry risk and therefore are not always suitable for all investors. Please see Risk Factors below.

 

£6.22bn

raised by VCTs since 1995

£3m

average size of VCT investment per company

85%

of companies have seen an increase in turnover since VCT investment

Track Record

The Puma Investments team has a 20 year track record of investing into smaller companies.

By following our asset-backed funding strategy, each of the first five Puma VCTs led their group for total returns. 

The first two VCTs were the first limited-life VCTs to return over 100p per share to investors and Puma VCT V delivered a total return of 106.3p per share, equivalent to a total return on the invested amount of 52.3% (equivalent to a 9.4% annual return), making it most successful limited-life VCT to date.

Past performance is no guarantee of future results.

£220m+

RAISED

£231m raised across 12 previous VCTs

£89m

RETURNED

Dividends in Puma VCTs to date

106.3p

PER SHARE

Return for Puma VCT V – best performing in this sector

70%

MARKET SHARE

Of Limited Life fundraise in the 2015/16 tax year

Example Investments

Brewhouse & Kitchen

£3.1m investment in Brewhouse and Kitchen, a specialist pub owner/ operator developing pubs with on-site breweries in strong locations across Southern England. The Puma VCTs are supporting the roll out of this concept through the acquisition of selected freehold and leasehold pub sites.

The Brewhouse and Kitchen team has a strong track record in the sector with notable past successes. The investment is secured with a first charge on the business and each site acquired and is made available at 65% of the value of any approved freehold site acquired (or a proportionally lower percentage for leasehold units).

Opes Industries

£8m investment in Opes Industries, a clean technology and waste management  business, to facilitate the development of a materials recycling facility at an established landfill and aggregates business on a 76 hectare site in Oxfordshire.

Opes Industries has assembled an impressive team to oversee the development and operation of the facility, once completed. The investment is secured with a first charge on the business and the freehold site.

Chinook Urban Mining

£5m investment in Chinook Urban Mining, a developer and operator of gasification technology for energy from waste, to support the development of its flagship plant in the new Sustainable Industries Park in East London. The plant, utilising a leading technology, will generate electricity through the gasification of municipal solid waste and commercial and industrial waste. 

 

The management team has extensive experience in the development and operation of similar plants and the investment is secured with a first charge on the business and the long leasehold site on a very conservative basis.

Puma VCT 12

Puma VCT 12 is now closed for subscriptions. 

The Offer

Proven Strategy

Implementing a proven investment strategy primarily investing in established businesses in the form of ordinary equity together with senior secured loans

Target Dividends

Target average annual tax-free dividend of 5p per share commencing from April 2018 over the rest of the life of the fund

5 Year Life

It is envisaged that after 5 years, the Directors will propose a special resolution for shareholders to vote on the process of winding-up the Company or similar means of distribution shareholders’ capital and income

Tax Free

Dividends and capital gains

Both dividends received and any capital gains made upon the disposal of shared are tax free

Income Tax Relief

on up to £200,000 per tax year

Closing Date

31 May 2016

Summary of fees

Initial: PROMOTER FEE 3% of amount subscribed
Ongoing:   ANNUAL MANAGEMENT FEE 2% of net asset value p.a.
ADMINISTRATIVE FEE 0.35% of net asset value p.a.
PERFORMANCE FEE 20% of amounts realised in excess of 100p per ordinary Share

 

Note: Tax benefits are subject to personal circumstances, minimum holding periods and may be subject to change. Investors should take independent advice.

Risk Factors

An investment in Puma VCT 12 carries risk and you should take your own independent advice. You should only invest in Puma VCT 12 on the basis of the Prospectus which details the risks of the investment. Below are the key risks:

General

Past performance is no indication of future results and the forecasts in this documentation are not a reliable indicator of future performance. The payment of dividends is not guaranteed. Investors have no direct contractual right of action against Puma Investments. The Financial Ombudsman Service/ the Financial Services Compensation Scheme are not available. 

Liquidity

It is unlikely there will be a liquid market in the shares of Puma VCT 12 and it may prove difficult for investors to realise their investment immediately or in full. 

Tax Reliefs

Tax reliefs depend on individuals’ personal circumstances, a five year minimum holding period and may be subject to change.

Capital at Risk

An investment in Puma VCT 12 can be viewed as high risk.  Investors' capital may be at risk. 

Key Documents


Puma VCT 12 plc - 2-page Summary
Puma VCT 12 plc - Investment Summary
Puma VCT 12 plc - Investment Details
Puma VCT 12 plc - Application Form
Puma VCT 12 plc- Prospectus