Victory VCT, formerly known as the Singer & Friedlander AIM 3 VCT, is to be managed by Amati Global Investors.

Victory VCT, formerly known as the Singer & Friedlander AIM 3 VCT, is to be managed by Amati Global Investors.

Established in January this year, Amati will seek to shift the venture capital trust’s investment strategy towards backing ‘slightly larger companies’.

Amati currently manages the Noble AIM VCT and the CF Noble UK Smaller Companies Fund, which it acquired from Noble Fund Managers.

In the case of Noble AIM VCT, it has pursued a strategy of investing the non-qualifying portion of the portfolio in companies with earnings in the Far East, as well as the energy and natural resources sectors. The board of Victory VCT is looking to see a broadly similar approach used to manage that fund.

VCTs may devote up to 30 per cent of their portfolio to non-qualifying investments, while a minimum of 70 per cent must be invested in UK-based businesses with gross assets of no more than £7 million.