AIC names top performing VCT member

The Association of Investment Companies (AIC), the trade organisation for the investment company industry, has named ProVen Growth & Income VCT as its top performing VCT member in 2006.

According to the AIC, Proven Growth & Income VCT generated a return of 42 per cent over the year to December 2006. The AIC currently has 73 VCT members, which is around 80 per cent of the UK VCT market by assets.

ProVen Growth & Income VCT, managed by Beringea, was launched in February 2001. The AIC, which has 302 members, noted that after a strong performance over its first five years, ProVen Growth & Income raised a further £25 million through a ‘C’ share offer in 2006. The offer was well received in the VCT marketplace and was fully subscribed ahead of schedule.

2007 research carried out by Business XL has shown that Venture Capital Trusts (VCTs) currently have over £1 billion to invest in young, growing companies.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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