As part of the GrowthInvest VCT service...
…we provide assistance to advisers and their clients in accessing the secondary market in VCTs. Liquidity in this market is primarily driven through the buy-back programs of VCT managers. In order to assist you in planning the sale and reinvestment of your clients VCTs we have compiled the VCT Buy-Back Calendar. The calendar provides details of the expected frequency of buy-backs for each VCT manager, details on buy-backs which have occurred over the last 12 months and the month within which there are buy-backs predicted within the next 12 months.
Please note that future predicted buy-backs are solely representative of the month in which a buy-back was carried out in the last 12 months. These dates will be subject to change and should only be considered an indication of a predicted buy-back.
Where a date or month is highlighted green, we have been given more specific guidance that a buy-back is expected, however these dates can also be subject to change at late notice.
The VCT buy-back secondary trading is a reactive market as opposed to proactive. Shares are placed on the book of the Broker as an Indication to Sell. The Broker will then work with the Investment Manager of the VCT to schedule the buy backs. The common themes for buybacks for VCTs are that most have a buy-back quarterly, some bi-annually and AIM VCTs at least every month. The collated shares are then bid for by the company.
Most VCTs tend to be quoted and trade at a slight discount to the Net Asset Value (for example 5%), and this is normally where a specific buy-back will be priced (the exact details of the discount can be found in the relevant VCT Prospectus).
For more information or guidance on how to access these buy-backs, please contact us via email at enquiries@growthinvest.com or by phone at 0300 303 0037 or by registering your interest here.
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