The Puma VCT 13
Fund Overview
Puma VCT 13 is designed to invest in scale-up businesses with a proven commercial proposition. Managed by Puma Investment Management Limited, the fund targets companies across various sectors and focuses on growth potential and strong management teams. As of 2024, the net asset value of Puma VCT 13 exceeds £150 million.
Investment Strategy
The investment strategy of Puma VCT 13 focuses on diversification and risk management. It emphasizes:
Sector Focus:
- Scale-up businesses in various sectors, including healthcare, technology, and services.
- Emphasis on companies with scalable operations and a clear growth strategy.
Investment Criteria:
- Businesses with experienced management teams.
- Clear and validated commercial propositions.
Portfolio Diversification:
- Broad exposure across industries and business types to mitigate risks.
Recent Developments:
Puma VCT 13 has made significant investments in various scale-up businesses and achieved successful exits, such as Pure Cremation and Tictrac.
Performance Metrics
| Year | NAV Total Return (%) | Dividends Paid (p/share) |
|---|---|---|
| 2024 | 7.0 | 5.0 |
| 2023 | 6.5 | 4.8 |
| 2022 | 6.0 | 4.5 |
Note: NAV Total Return combines NAV growth and dividends paid.
Tax Benefits
Investors benefit from:
- 30% income tax relief: Available on investments up to £200,000 annually.
- Tax-free dividends: Regular income payments without tax obligations.
- Capital gains tax exemption: No CGT on share disposals.
Tax treatment depends on individual circumstances and may change.
Fund Documents
Contact Information
- Phone: 020 7408 4100
- Email: [email protected]
- Website: Puma VCT 13
Why Consider Access EIS Instead?
Both Puma VCT 13 and Access EIS offer tax-efficient ways to invest in innovative UK businesses, but they cater to different investment needs:
| Feature | Puma VCT 13 | Access EIS |
|---|---|---|
| Investment Focus | Scale-up businesses with proven commercial propositions | Early-stage, high-growth UK startups |
| Minimum Investment | £3,000 | £5,000 |
| Tax Benefits |
- 30% Income Tax Relief - Tax-Free Dividends - Capital Gains Tax Exemption |
- 30% Income Tax Relief - Capital Gains Tax Deferral |
| Liquidity | Some liquidity via AIM and buyback schemes | Illiquid, with returns realized after ~5–7 years |
| Dividends | Regular, tax-free dividends | No dividends; all profits reinvested |
| Risk Level | Moderate to High | Very High |