Puma VCTs

Puma VCTs adopt our investment team's proven track record investing in growth businesses.   

Our principal focus is on generating stable returns for our investors, targeting investee companies that have substantial tangible assets, such as real estate, stock or contracted receivables. 

Please see Risk Factors below.

£223m+

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 21 year track record of investing into smaller companies.

By following our investment 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).

Past performance is no guarantee of future results.

£223m+

RAISED

£223m raised across 12 previous VCTs

£97m

RETURNED

Dividends in Puma VCTs to date

70%

MARKET SHARE

Of Limited Life fundraise in the 2015/16 tax year

Example Investments

Brewhouse & Kitchen

£3.1 million investment into a micro-brewery pub business to support the roll-out of the brand across the UK (in December 2012). The B&K business has continued its successful expansion and is currently running the concept at 16 locations. B&K branded pubs brew a significant volume of their own beer on site, which acts as a USP and focal point for the unit as well as boosting margin through the lower duty levied on small scale beer production.

The investments were secured with a first ranking charge against the company’s assets. The transaction completed successfully and the Puma VCTs exited in full in October 2015.

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 13

Puma VCT 13 is now open for subscriptions. 

The Offer

Proven Track Record

Proven investment team investing in growth businesses, primarily in the form of ordinary equity offered together with senior secured loans, seeking to generate stable returns for investors.

Target Dividends

Target average annual tax-free dividend of 5p per share, starting April 2020.

Limited Life

Seeking orderly wind up within 8-10 years, or earlier if market conditions present such an opportunity, subject to shareholder consent.

Tax Free

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

Income Tax Relief

Up to 30% income tax relief for eligible UK tax-payers provided Shares are held for at least five years.

Closing Date

5 April 2018

Summary of fees

Initial: INITIAL FEE 3% of amount subscribed
Ongoing:   ANNUAL MANAGEMENT FEE 2% (inc.VAT) of net asset value p.a.
ADMINISTRATIVE FEE 0.35% (inc.VAT) of net asset value p.a.
PERFORMANCE FEE 20% of amounts realised in excess of 105p per Ordinary Share

 

Other expenses: The Company is responsible for its normal operating costs. The Investment Manager may be paid arrangement, structuring and/or monitoring fees for executed transactions, but these fees are not paid by the VCT.

Note: Tax benefits are not guaranteed, 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 13 carries risk and you should take your own independent advice. You should only invest in Puma VCT 13 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 13 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 13 can be viewed as high risk.  Investors' capital may be at risk. 

Key Documents


Puma VCT 13 plc - Overview
Puma VCT 13 plc - Investment Details
Puma VCT 13 plc - Prospectus
Puma VCT 13 plc - Application Form