Albion overhauls VCT asset allocation

VCT group Albion Ventures has reshaped its sector allocation, tripling environmental holdings and almost doubling healthcare stocks.

The change means 45% of Albion’s 9 VCTs, worth £230m in AUM, will be invested in the environment and healthcare. Albion is making the moves using capital from positions sold last year and money gained in the fund-raising period. The group is aiming to raise £15m in a top-up offer by 5 April. Albion has upped environmental holdings from 4% to 20%, believing further private sector involvement will be needed in future years. Its healthcare position is now at 25%, increased from 13%. Patrick Reeve, managing partner, says both areas are non-cyclical and will continue to develop as deman...