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Puma Launches Latest VCT (EIS Magazine)

Puma has launched its latest limited life VCT.

Labelled Puma VCT 12, it will seek to raise £30m and follow the firm’s usual asset-backed investment strategy. Available to investors on the Transact platform, it will primarily invest in established businesses in the form of ordinary equity together with senior secured loans.

The principal focus will be on capital preservation, whilst seeking to produce regular, tax-free distributions to shareholders from a portfolio of businesses with substantial tangible assets such as freehold property, or contracted and highly predictable revenue streams.

Puma Investments CEO David Kaye said: “Puma’s asset-backed investment strategy continues to be popular amongst investors seeking to support UK businesses in a tax-efficient wrapper. Investors in Puma VCT 12 will benefit from the successful track record of the Puma Investments team and a strong flow of quality investment opportunities with SMEs starved of the capital they need for growth. As a consequence, we are able to invest in companies which have substantial assets or predictable revenue streams, over which a first charge can be taken.”

Puma VCT 12 – Key Facts

Minimum investment £5,000
Maximum investment £200,000
Offer price 100p
Annual management charge 2%
Initial fee 3%
Initial closing date 5 April 2016