Murray Johnstone VCT2 has reached its investment target, with 11
investments completed during the year.
This means that 73 per cent of the portfolio, amounting to £24.2m, is
invested in qualifying investments at the year-end.
One-third of the initial investment cost has now been returned to
investors, with total dividends of 13.51p being returned on the initial
investment of 40p per share since launch.
VCT2 has invested £750,000 in Benlowe Group, a manufacturer of timber
window frames and staircases, and the same amount in CAC Tooling, a company
which manufactures tools for the plastic injection moulding industry.
Fund manager John Simpson says: “There have been encouraging signs that a
number of companies which VCT2 hyas invested in have performed very well in
the difficult economic conditions that have prevailed.
“A number of companies are pursuing acquisition strategies to achieve a
greater critical mass and British Creameries, Power Gems and Palgrave Brown
have all completed acquisitions since the publication of the interim