Founded in 2001, Amati AIM VCT Plc is a UK-based venture capital trust with qualifying investment focus on AIM-listed companies’ and through non-qualifying investments as permitted by the VCT legislation to deliver tax free capital gain and continuous dividend income for its shareholders. Formerly known as Amati VCT Plc, the company diversifies its investment portfolio across an extensive range of industries to mitigate risk. The company aims to provide dividends to its customers that total between 5% and 6% of its Net Asset Value (NAV) at the end of financial year. The company invests across a range of sectors that include consumer goods, financials, technology, oil & gas, telecommunication, health care, Industrials, consumer services and basic materials. The company’s shares are traded on the London Stock Exchange since 2001 as LON: AMAT.
The company has appointed Amati Global Investors Limited as its fund manager and it compares its performance with its benchmark, Numis Alternative Markets Index, Total return. The company can make investments which are allowed under the VCT regulations, including an undertaking for Collective Investment in Transferable Securities (UCITS) funds or shares or units in an Alternative Investment Fund (AIF) and shares of other companies quoted on regular market. The company should maintain minimum 80% of its value in qualifying investment, within three months of raising funds to get approval as a VCT under the ITA. Any investment should not represent over 15% of its net asset value and within 30% of new funds beginning after 5 April 2018 are to be invested in qualifying holdings a year of the accounting period following the issuance of shares. To diversify its portfolio and reduce risk the company may use gearing up to an amount equal to its adjusted capital and reserves.
The company follows two Investment strategy that include Qualifying and Non-qualifying Investment strategy. The company would focus is long-term investment in Qualifying investments which is driven by new investment opportunities and historic investments. It can dispose any investment when its investment case has deteriorated or to realise profits, fund new investments, adjust portfolio weightings or been found to be flawed or pay dividends.
The non-qualifying investment strategy invests on assets which are not included in qualifying investments on behalf of the company, which are permitted under VCT rules. Cash that are not needed are invested in the TB Amati UK Smaller Companies Fun or equity investments in small and medium sized firms and debt securities listed on the main market of the London Stock Exchange or other UCITS funds or cash and cash equivalents which are redeemable within 7 days.
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