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Special sits star to run new smaller firms VCT

Marlborough special situations fund manager Giles Hargreave is set to put his smaller companies expertise into a new venture capital trust.

Hargreave will manage the Keydata Aim VCT which is taking applications until the end of this month. He will put into practice the investment principles that have made the 63m special sits fund one of the top-rated in the market.

The fund is up by 207.5 per cent over five years, 34 per cent over one year and holds around 160 stocks that are smaller companies or Aim-listed.

The investment team of Hargreave, George Finlay and Guy Feld, who all work for stockbrokers and private client manager Hargreave Hale, holds meetings with around 20 companies each week and Hargreave believes this expertise in smaller companies will make them the ideal team to head a VCT.

Hargreave believes it is important that investors in the VCT are patient and he says he will not invest all the money quickly, holding it in cash and steadily lowering the amount of gilts it will hold to wait for investment opportunities.

He will mainly be investing in secondary share issues by existing Aim companies as they are likely to have a track record and are often priced at an attractive discount to the market price.

“VCTs have been made very attractive with the tax breaks. There is no reason why we should not be able to generate a good return. There is a lot of time to make the investments and we will not be rushing in to make placements,” he says.


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