The Albion Venture Capital trusts have today (18 January) elected to exercise their over-allotment facility.
The move brings the maximum amount the VCT can raise from £7m to £15.5m. The offers opened for the VCT on 10 October 2022, and will close by 29 September 2023, unless the trust is fully subscribed. Albion Capital launches £50m fundraise across VCT range Last year, Albion said that its VCTs had returned an average annual return of 8.4% over the 10 years to 30 June 2022, 9.6% over 5 years and 6.7% over 3 years excluding tax relief. All six VCTs have an annual dividend target of around 5% of NAV.
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