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Buoyant Baronsmead

The Baronsmead 2 VCT has taken almost a quarter of all money invested in the sector in the last month.

Since its C-class share issue following the publication of a prospectus in September, 22 per cent of all new cash raised by venture capital trusts has gone to Isis-owned Baronsmead.

At the first close on October 15, 2004, the Baronsmead 2 VCT had raised £6.15m of the £20m that it sought. This compared with the total of around £28m that was taken by VCTs in this time.

As well as the new 383 shareholders that signed up to the Baronsmead 2 in this period, existing shareholders have also subscribed a further £1.2m.

The dividend policy, which is not guaranteed, is to sustain the average annual 4.5p share paid over the past six years of the trust.

Baronsmead 2 is a specialist VCT that co-invests with the other Baronsmead VCTs and, where appropriate, institutional clients of Isis Equity Partners into larger transactions that many other VCTs.

Baronsmead investment manager David Thorp says: “We are pleased to have achieved the same level of market share over the last five weeks as we did over the last two years.

“The revised tax relief this year implemented by the Government have meant that there are a number of advisers new to VCTs who have recognised the strong investment story behind the VCT as well as the taxation benefits for shareholders.”


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