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£20m VCT aims to profit from joint expertise

Northern Venture Managers is launching a new £20m venture capital trust, its first since it was acquired by Edinburgh Fund Managers in June.

The trust will invest in new issues on the Alternative Investment Market, pre-flotation placings by unlisted companies and later-stage venture capital investments. It is expected to launch in mid-October.

The VCT will be managed initially by the EFM smaller companies team, with NVM assuming control as the companies develop.

NVM hopes joining with Edinburgh Fund Managers will give investors the benefit of their combined experience. NVM has had a compound annual return of over 16 per cent on invested funds since 1984.

Edinburgh Fund Managers has funds under management of £8.5bn, with £1.2bn invested in smaller quoted companies.

NVM was bought in June this year by Edinburgh Fund Managers and has £105m in funds under management, contained within three funds. NVM&#39s two existing VCTs – Northern venture Trust and Northern 2 VCT, have raised more than £65m from private investors.

NVM specialises in making equity investments of between £500,000 and £5m in unquoted companies. The company has offices in Newcastle upon Tyne, Edinburgh and Reading.

NVM director Norman Yarrow says: “We are very excited about our first joint product. It is an excellent

synergy between the two

companies. We are combin-

ing EFM&#39s good track record in smaller companies with NVM&#39s expertise in investing in unquoted deals.”

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