Puma AIM Inheritance Tax Service
Open for investment
£162.6m
Portfolio assets under management
81%
Companies in the portfolio have a market cap above £100m
Six key reasons to choose the Puma AIM IHT Service
We know that investing for long-term tax planning is important to our clients, to help them achieve their financial goals. We believe the Puma AIM IHT Service offers clients six key benefits, to enable them to do this.
Experienced team
1Dr Stuart Rollason has over 23 years’ experience of investing in AIM companies and ran the AIM IHT portfolio at Kestrel Partners for 10 years before joining Puma Investments. He is supported by Joseph Cornwall who ran the Gore Browne IM AIM IHT Portfolio for five years before joining Puma Investments.
Long track record
2Since inception in July 2014, the cumulative performance of the model portfolio has increased by +79.03%, outperforming both the FTSE AIM All-Share Index (-7.54%) and the FTSE All-Share Index (+14.64%).
Diverse holdings
3Targeting companies with good revenue visibility and generating positive cashflows. The portfolio does not typically invest in early-stage companies or smaller companies with a market capitalisation of less than £50 million. The portfolio is invested across 16 different sectors with no more than 20% in any one sector at present.
IHT saving
4Seeks to mitigate IHT by selecting companies that qualify for Business Relief. Can be held inside and outside ISAs, enabling investors to combine IHT relief with the other tax benefits of ISAs (provided investments are held for at least two years and on death).
AIM history
5Puma Investments is part of the Shore Capital Group, the 3rd largest market maker on AIM. Shore Capital has been analysing AIM companies since the market opened in 1995.
Platform access
6Available for advisers to access on leading platforms: M&G Wealth, Transact, abrdn Wrap, Fidelity Funds Network, Platform One, Nucleus, 7IM and Succession.
Performance
The following charts demonstrate the latest Puma AIM IHT service performance against other key indices.
NAV performance for growth shares since inception
Key Stats
+6.5%
Compound Annual Growth Rate
+79.03%
Cumulative performance since inception
1 The indices shown are for illustrative purposes only and are not considered directly comparable to the performance of this Service. Source: Iress.
2 Compound Annual Growth Rate.
All performance data is quoted net of management and dealing fees and applies to actual initial investors’ portfolios that remain invested. Please note that from Q2 2021, the performance data no longer applies to the previous Investment Director’s portfolio, but instead applies to the next portfolio that remains in existence and has been invested since inception. Small variations in performance may apply as each individual investor has their own discrete portfolio of assets. Discrete performance data is calculated as full-year periods from 1 January to 31 December of the year displayed. Past performance is no guarantee of future results. | Source: Puma Investments, unless otherwise stated. Date of inception: 1 July 2014.
Cumulative investment performance %
| Index | 3 MONTHS | 1 YEAR | 3 YEARS | 5 YEARS | SINCE INCEPTION |
| Puma AIM IHT Portfolio Service | -1.45 | +6.41 | +23.31 | +12.72 | +79.03 |
| FTSE AIM All-Share Index (AXX)1 | -3.63 | -9.95 | -24.33 | -33.89 | -7.54 |
| FTSE All-Share Index (ASX)2 | +0.76 | +9.67 | +25.74 | -0.02 | +14.64 |
Discrete investment performance %
| Index | 2023 TO DATE | 2022 | 2021 | 2020 | 2019 | CAGR2 |
| Puma AIM IHT Portfolio Service | -3.87 | -14.24 | +28.39 | +2.81 | +24.23 | +6.50 |
| FTSE AIM All-Share Index (AXX)1 | -10.75 | -31.69 | +5.17 | +20.74 | +11.61 | -0.84 |
| FTSE All-Share Index (ASX)2 | +1.28 | -3.16 | +14.55 | -12.46 | +14.19 | +1.49 |
1 The indices shown are for illustrative purposes only and are not considered directly comparable to the performance of this Service. Source: Iress.
2 Compound Annual Growth Rate.
Discrete performance data is calculated as full year periods from 1 January to 31 December of the year displayed.
Portfolio diversification
The following provides a breakdown of the portfolio construction as of 30 June 2023 by sector for the AIM ISA IHT Service.
Fees & charges when investing directly with Puma Investments through a Financial Adviser
INITIAL FEE
1%
of amount subscribed
ANNUAL MANAGEMENT FEE
1.5%
Of portfolio value
DEALING FEE
1%
Applied to the purchase and sale of stocks
Fees & charges when investing via a platform
INITIAL FEE
0%
of amount subscribed
ANNUAL MANAGEMENT FEE
1.5%
Of portfolio value
DEALING FEE
Variable
Platform and dealing fees may vary across platforms
Risk Factors
An investment in the Puma AIM Inheritance Tax Service may not be suitable for all investors.
An investment in the Service carries risk and you should take your own independent advice. You should only invest in the Service on the basis of the Investment Details and Investor Agreement which details the risks of the investment. Below are the key risks of the Service:
Tax reliefs are not guaranteed: Tax rules may change, which could affect the reliefs available for IHT purposes. Tax reliefs are subject to an individual’s personal circumstances and independent tax advice should be taken. While the Tax Adviser will also carry out an annual review of the portfolio, we can’t guarantee that all portfolio investments will qualify for BR. If a company should be non-qualifying at the time of being selected for the portfolio or become non-qualifying thereafter, then any applicable BR could be reduced accordingly.
Long-Term investment: An investment in the Puma AIM Inheritance Tax Service should be considered a long-term investment.
Capital at risk: The value of investments can go down as well as up, so investors may not receive their full amount invested. An investment in smaller companies is likely to be higher risk than many other investments. Companies quoted on AIM are likely to be more risky and have less rigorous listing requirements than companies quoted on the main list of the London Stock Exchange. Dealing costs may be significant, particularly in respect of a relatively small investment in the Service.
Past performance: The past performance of the Puma AIM Inheritance Tax Service, Puma Investments, the funds Puma Investments manages or the companies it advises, is not a reliable indicator of future performance. Future performance may be materially different from past results. There is no guarantee that can be given as to the overall performance or level of return that can be achieved from investments made, or that the objectives of the Service will be achieved.
Potentially illiquid investment: AIM stocks are largely small and illiquid. They are characterised by significant spreads and low trading volumes. A sale of such shares may be difficult, slow and only achievable at lower than indicated market price.
Figures on this page are taken from Puma Investments and are correct as of 1 August 2022 unless stated otherwise.