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British Smaller Companies VCT 2 PLC and British Smaller Companies VCT PLC, two venture capital trusts managed by YFM Private Equity Ltd, on Monday posted increased total returns.
Venture capital trust British Smaller Cos VCT 2 said its net asset value per share grew to 61.50p at the end of December from 55.00p a year before. The VCT said its total return increased by 14.5p to 139.5p per share.
Total dividends per share more than doubled to 8.0p per share, from 3.50p in 2020.
‘Despite the prevailing pandemic and post Brexit fallout, the resilience and growth of the portfolio that was seen in the latter part of 2020 has continued throughout 2021. The weighting towards business-to-business services emphasising technology-enabled solutions, data management, analytics, protection and migration continues to benefit from the accelerated trends that the pandemic has provided,’ Chair Peter Waller said.
The next annual general meeting will be held on June 13.
Shares in British Smaller Cos VCT 2 were unchanged at 57.50p on Monday in London.
Meanwhile, British Smaller Companies VCT reported a net asset value per share of 87.5p as at December 31, down from 90.9p at the end of September. While NAV increased in value by 1.6p, the firm noted, it paid out 5.0p of dividends. Total return for the third quarter rose by 1.6p to 251.9p, the company reported.
Shares in British Smaller Cos VCT rose 3.7% to 83.50p on Monday in London.
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