20603
Read our H2 2024 insights VCTs – questions and answers
Baronsmead Venture Trust plc invests in the future of British business while aiming to deliver attractive long-term performance and dividend income for shareholders.
Our VCT investment team looks for pioneering businesses that will be at the heart of the future UK economy.
Our broad and diversified portfolio – including a range of technology, healthcare and hospitality businesses – is consistently reviewed and refined, as we seek to find and develop success stories, and support their journeys.
The Baronsmead VCTs – Baronsmead Venture Trust plc and Baronsmead Second Venture Trust plc – have the advantage of access to the experience of the Gresham House network, providing investee businesses with the opportunity to benefit both financially and practically throughout their development.
Our dedicated early stage venture team has extensive expertise.
This stretches across both listed and unquoted investing and they often perform Board or Advisory roles for our larger holdings.
The Baronsmead VCTs also significantly benefit from access to the wider Gresham House network.
This is seen right through from the sourcing of deals to operational support and transformative human capital necessary at each stage of growth.
Focusing on sectors, markets and companies with long term structural growth trends, the Baronsmead VCTs team utilise their specialist skills and connections to provide both capital and support to take exciting businesses to the next level.
Drawing on our VCT investment team’s extensive entrepreneurial relationships and specialist skills, we inject capital at pivotal times in order to support exciting businesses on their journey.
We have consistently high levels of new deal opportunities being received and this is in no small part down to our extensive early-stage network, which supports both investment appraisal and post-deal value creation.
Prospective and current investors can invest in the Baronsmead VCTs by subscribing for shares when the Companies raise funds through new share issuance. Investors may also buy shares in the VCTs on the secondary market, but without the same tax benefits.
To check for any Offers currently open please visit our Offers page.
Investors can also access more information about the VCT share price and the company through the listed company (ticker: BVT)
Prospective investors should carefully consider the risks associated with this form of investment and seek advice from a qualified financial adviser. Investment in smaller unquoted companies involves a higher degree of risk than investment in larger companies. VCT shares are infrequently traded, so shares are often valued at a discount to their Net Asset Value and may be difficult to realise. Shareholders may be offered a price which is less than the full value of the underlying assets.
Warning to Shareholders
Many companies are aware that their shareholders have received unsolicited phone calls or correspondence concerning investment matters. These are typically from “brokers” based overseas who target UK shareholders offering to sell them what often turn out to be worthless or high risk shares in US or UK investments. They can be very persistent and extremely persuasive. Shareholders are therefore advised to be very wary of any unsolicited advice, offers to buy shares at a discount or offers for free company reports.
Please note that it is very unlikely that either the Company or the Company Registrar, Computershare, would make unsolicited telephone calls to shareholders and that any such calls would relate only to official documentation already circulated to shareholders and never in respect of investment “advice”.
If you are in any doubt about the veracity of an unsolicited phone call, please call either the Company or the Registrar at the
numbers provided below.
Protect Yourself
If you are offered unsolicited investment advice, discounted shares, a premium price for shares you own, or free company or
research reports, you should take these steps before handing over any money or share certificates:
If you use an unauthorised firm to buy or sell shares or other investments, you will not have access to the Financial
Ombudsman Service (https://www.financial-ombudsman.org.uk/) or Financial Services Compensation Scheme
(https://www.fscs.org.uk/) if things go wrong.
Report a Scam
If you are approached about a share scam you should tell the FCA using the Share Fraud Reporting Form
(www.fca.org.uk/consumers/report-scam-unauthorised-firm), where you can find out about the latest investment scams.
You can also call the FCA Consumer Helpline on 0800 111 6768.
If you have already paid money (or otherwise dealt with share fraudsters) you should contact ActionFraud on 0300 123 2040 or use the ActionFraud (https://www.actionfraudalert.co.uk/) Online Reporting Tool.
More detailed information on this or similar activity can be found on the FCA website.
Fiona joined the Baronsmead Venture Trust plc Board on 1 September 2021 as a Non-Executive Director and has been appointed as Chair in 2022.
Fiona is the CEO of Barts Charity a health foundation with a £550m financial investment and commercial property portfolio. Barts Charity funds transformational medical research and innovation in healthcare delivery and technology. Over the last five years, Barts has also allocated 25% of its portfolio to private equity and venture funds including early stage venture and life sciences funds.
Fiona brings to Baronsmead a wealth of experience, spanning over 25 years, in investing in and leading growth companies. Her early career was in finance and private equity at Goldman Sachs and Murray Johnson Private Equity, and she then had a successful entrepreneurial career prior to joining Barts Charity in 2016 including five years at Social Finance UK, a leading impact investing and advisory firm. Fiona is Trustee of John Lyons, Chair of Lifting Limits and sits on the Barts Life Sciences Advisory Board. Fiona has an MBA from INSEAD.
Isabel has over 25 years’ experience working with growth companies as a corporate financier, equity investor, lender and as a CFO. Her previous roles include working with the turnaround team in RBS, and as a Portfolio Director with 3i. Until 2013 she was Finance and Operations Partner with Albion Capital, specialising in the finance, operations and administration of venture capital trusts.
She has been a Non-Executive Director and Chair of the Audit and Risk Committee for an NHS Trust and previously served as Chair of St. Albans Community Bank. Isabel is currently a Trustee of Bedford School Foundation Trust.
Isabel is a Fellow of the Institute of Chartered Accountants in England and Wales and holds an MBA from London Business School.
Michael Probin has over 30 years’ experience in executive roles within the tax-efficient investment industry. He worked on Business Expansion Scheme products at AXA Sun Life Group for 10 years before joining the management team at Livingbridge LLP, where he gained extensive knowledge of the VCT industry. Before retiring from his role at Livingbridge LLP in 2018, he worked extensively with VCT industry trade and representative bodies and stakeholders of all forms. The depth of his technical knowledge added substantially to responses to industry level consultations carried out by the UK government and regulatory bodies as well as the European Commission.
He holds a BSc and MSc (Econ) in Urban and Regional Planning from the London School of Economics and an EMBA from London Business School.
Ken is Managing Director, Public Equity, and leads the investment team managing public equity investments. He is lead manager for LF Gresham House UK Micro Cap Fund, LF Gresham House UK Multi Cap Income Fund, Strategic Equity Capital plc and manages AIM listed portfolios on behalf of the Baronsmead VCTs. Ken graduated from Brasenose College, Oxford, before qualifying as a Chartered Accountant with KPMG. He was an equity research analyst with Commerzbank and then Evolution Securities prior to spending the past 12 years as a Fund Manager at Livingbridge and now Gresham House specialising in smaller companies.
Tania joined Gresham House in November 2018 having been at Livingbridge for 13 years. She has worked on the Baronsmead VCTs since she joined, progressing from administration assistant to Finance Manager in 2011 and qualifying as a Chartered Management Accountant in 2012 while at Livingbridge.
Tania previously worked at a Chartered Accountancy practice in New Zealand for eight years where she began her accounting training. She holds a BBS in Accounting from the Open Polytechnic of New Zealand.
Clive joined Gresham House in 2021 as part of the Mobeus VCTs acquisition. He is an investment management specialist with experience across a wide variety of sectors and stages of company development. He has worked in the private equity industry since 1995 making investments including TeleCity and Kerridge Commercial Systems. He has been working in the VCT industry since 2008 with previous experience including running his own business and as a Director of NVM Private Equity, Catapult Venture Managers and 3i plc.
Having specialised in portfolio management, Clive has acted as non-executive director and Chairman of a wide range of private equity backed businesses such as Virgin Wines, Entanet and Equip Outdoor Technologies. He now heads VCT portfolio management across the Gresham House VCT stable, sits on the Investment Committee and has responsibility for the portfolio valuations processes.
Clive holds a BSc (Hons) in Applied Physics & Electronics from Durham University, a DipM from the Chartered Institute of Marketing, and an MBA from the University of Warwick.
Trevor joined Gresham House in 2021 as part of the Mobeus VCTs acquisition. For over 25 years, he has invested in fast-growing businesses at the series A stage and beyond.
Prior roles include at Barclays, RBS, 3i and Beringea. Previous investments and Board positions include Paragon Software, Mondus.com, Cambridge Industries, Southnews plc, Achilles Group, MyOptique, Fjordnet, ILG Digital, Celebrus Technologies, Big Data Partnership, and Preservica.
Trevor holds an MBA from Exeter University, is an associate of the Chartered Institute of Bankers and a Member of the Chartered Institute of Marketing.
Rohit joined Gresham House in 2024. He focusses on venture capital investments at late Seed / Series A stages and beyond with a specific focus on Fintech, SaaS, and AI-first technology companies. Previous investments include Adsum Technologies, Refyne Technologies, Honest Bank, WealthKernel, Penfold Pensions, and many others. He has a global network having worked / invested in the UK, EU, India, ME and SEA.
Before Gresham, Rohit was an Investment Partner at Digital Horizon VC and led their fintech investments globally, and before that spent 10+ years at Barclays Bank London in various roles including as the Lead for the Barclays VC unit. He has significant operational, commercial and leadership experience having worked with start-ups in Commercial roles, and built and launched the wealth management and private banking mobile app for Barclays. He was a Management Consultant with EY and started his career as a Software Engineer with Infosys Technologies.
Rohit is passionate about diversity causes, and has held various NED roles with start-ups and education institutions including being on the Global Alumni Board of Manchester Business School.
Rohit has an MBA (Director’s List and AT Kearney Scholar) from Manchester Business School, UK, and a B.Eng. (Honour’s) from Agra University, India.
Jamie joined Gresham House in October 2022 as a Client Services Associate within our Institutional Distribution team.
He previously spent five years at Cazenove, the wealth management arm of Schroders as a Client Services Executive within their Charities team. Prior to that, Jamie worked within the UK Retail Sales team at Schroders.
Jamie holds the CFA Institute Investment Foundations Certificate and Unit 1 of the IMC.
Keisha-Ann joined Gresham House in November 2020 as part of the Institutional Sales team and is responsible for institutional business development and consultant relations, fundraising across Gresham House’s Real Assets strategies.
Prior to Gresham House, she spent five years at quantitative investment manager, Winton, where she was responsible for investor relations coverage of investment consultants and Winton’s global institutional and wholesale clients including pension funds, sovereign wealth funds, investment banks, family offices and endowments.
Keisha-Ann holds a BA (Hons) in Geography from the University of Leeds.
Heather is Managing Director, Institutional Business and a member of the GHAM Board.
Prior to joining Gresham House, Heather spent seven years at Fidelity International, latterly as Head of Institutional Distribution for UK & Ireland. She also previously held business development and client relationship positions at BankInvest, Capital International and Gartmore where she focussed on U.K & Ireland and Nordic institutional investors.
Heather has over 25 years of financial experience and holds a BA (Hons) in Politics from Durham University and the Investment Management Certificate from the CFA Society of the UK.
Claire joined Gresham House in August 2023 as Head of Business Development in the UK and Irish Institutional market.
Prior to Gresham House, Claire worked at Schroders for ten years and held positions as Head of Sustainability UK and Co-Head of the UK Institutional Business.
Claire started her career at M&G Investments, before moving to Baring Asset Management where she spent 11 years with the last six years in a UK Institutional Business Development role.
Claire is IMC qualified and has obtained the CFA ESG certificate.
Ben is Head of Institutional Business, and joined Gresham House in May 2024.
Prior to joining the firm Ben was the EMEA Commercial Officer at Cambridge Associates, where he was responsible for Business Development & Marketing focussing on Institutional investors, Endowment & Foundations and Family Offices. Before, joining Cambridge Associates, Ben spent 18 years at Mercer Investments in several leadership roles including European Head of Mercer Sentinel and the UK Head of Fiduciary Management. In his previous roles Ben has been responsible for developing propositions across Europe, Asia and the Middle East, including spending time as the Head of Mercer’s Middle East business based in Dubai.
Ben holds a MSc in Accounting and Finance from DeMonfort University and a BSc (Econ) in Accounting and Financial Management from the University of Buckingham. He is also a qualified Actuary, has passed the Investment Management Certificate and has over 20 years-experience in the financial industry.
David joined Gresham House in June 2023 as an RFP Analyst within our Institutional Distribution team. He is responsible for ensuring the consistency and quality of the firm’s investment proposal content and processes as well as contributing to the production of marketing materials.
David has over 15 years of experience within financial services distribution, having worked with a number of global fund management firms as an investment and RFP writer and business manager.
He holds an MA (Hons) in Modern Languages from the University of St Andrews and the Investment Management Certificate.
Alastair joined Gresham House in 2023 and is responsible for growing and maintaining relationships with institutional asset owners and consultants.
Alastair has over 15 years’ experience working with institutional investors. Prior to Gresham House, Alastair worked at Ninety One where he was responsible for business development with UK institutions. Prior to Ninety One, Alastair held business development and client management positions at Goldman Sachs Asset Management, focussing on the UK and Ireland.
Alastair holds a BA in Management Studies from Nottingham University, the CFA Certificate in ESG Investing and is a CFA charter holder.
Harry joined Gresham House in December 2023 as an Analyst in the Institutional Sales team.
Prior to this he completed a 3-month internship with the team.
He holds a First Class BA (Hons) in Geography from Durham University having graduated in 2022.
Liz joined Gresham House from Legal & General Investment Management, where she was an Investment Reporting Analyst working with Institutional clients.
Prior to Legal & General, Liz held roles as a Client Service Analyst at Wellington Management, covering the Global Wealth channel in Europe and Asia, and as an Investor Relations Specialist at NewSmith Asset Management.
Liz holds the Investment Management Certificate and has a BA in French & Spanish from University College London.
Sean is a member of the Institute of Banking with over 38 years experience in the financial services industry. Sean has worked / lived in Waterford, Thurles, Kilkenny and Cork holding branch manager, area and regional management positions. Sean now lives in Cork and is Appian’s South of Ireland business development manager.
Anthony’s background is in investment banking, having previously worked for international firms in London, New York and South America, including Macquarie and Merrill Lynch. At Gresham House, he is responsible for business development, marketing and sales for our forestry and new energy assets, also managing one of the funds.
Anthony has a BA (Hons) in History from Newcastle University and is an Investment Management Certificate holder. He is also a registered adviser with the Financial Conduct Authority.
Kathryn joined Gresham House Ireland in March 2022 to spearhead our offering for private clients. She has worked as an investment manager with private clients for over 15 years, aligning their investment strategies with their personal goals, across various wealth structures. She has over 20 years’ experience in the wealth management sector, having advised individuals and their families, not-for-profits, corporates and pension clients in this time.
Kathryn graduated with a degree in Corporate Law and interned at MetLife Bank in New York prior to commencing her career at a large wealth management business in Dublin. She is a Chartered Member of the Securities & Investment Institute in London and holds the CFP® designation. She also holds a first-class MSc in Financial Services, and has served as a Professional Pension Trustee Practitioner. Demonstrating her commitment to sustainable investing, Kathryn recently completed the ESG Certificate via the CFA.
Ian joined Gresham House Ireland (formerly Appian Asset Management) in June 2009 after spending over five years at Bear Stearns. Ian worked within Bear’s Fixed Income/Equity operational departments for two years followed by three years in the Legal & Compliance Department where he worked as an AMLO Officer & Compliance Officer. In June 2009, Ian worked within the Account Opening/Compliance departments before managing the operations department. Ian has built up a strong relationship with our brokers and clients over the past nine years. Ian brings a wealth of experience into our client relationship team having worked in the industry for nearly 14 years. Ian is a Qualified Financial Advisor.
Chris is a Managing Director in the Wholesale Distribution team and joined Gresham House in July 2021.
Prior to this he was Head of Strategic Partnerships at LGBR Capital where he focused on developing key strategic relationships in the UK discretionary market. He was one of the founding members of LGBR Capital, helping to grow the business from launch in 2012 into one of the largest outsourced distributors in the UK.
Chris previously held business development and client relationship positions at Matrix Asset Management and Goldman Sachs.
Chris has 14 years’ industry experience and holds a BSc (Hons) in Economics from Queen Mary, University of London. He is a CAIA Charterholder and has passed both the Certificate in ESG Investing and the Investment Management Certificate from the CFA Society of the UK.
Andy has over 20 years’ industry experience and joined Gresham House in October 2019 after spending two years at BNP Paribas. Prior to this he spent six years as investment sales director at BNY Mellon, focusing on family offices and the London discretionary market.
He has also worked in the business development team at Skandia Investment Management, helping launch the Spectrum range of funds. He holds a BA (Hons) in Economics, the CFA Certificate in Investment Management, the CFA Certificate in ESG Investing, the CII Certificate In Discretionary Investment Management, the CII Certificate in Investment Operations and the CII Diploma in Financial Planning.
Rees joined the Wholesale Distribution team in July 2022.
Prior to joining Gresham House, Rees worked within the UK Investor Relations team at Comgest Asset Management and within the Asset Management team at Willis Towers Watson.
Rees is currently studying for his Investment Management Certificate.
City Partnership | Gresham House | |||
01484 240 910 https://gresham-house-vcts.cityhub.uk.com The City Partnership (UK) Limited The Mending Rooms Park Valley Mills Meltham Road Huddersfield HD4 7BH | 020 7382 0999 baronsmeadvcts@greshamhouse.com 5 New Street Square London, EC4A 3TW |
The 2024 Baronsmead Venture Trust plc AGM was held at Butchers’ Hall, 87 Bartholomew Close, London, EC1A 7EB at 1.30pm on Tuesday 5 March 2024.
Resolutions | Votes For | For(%) | Votes Against | Against (%) | Votes Withheld* | Total Votes | % of Issued Share Capital voted |
Resolution 1
To receive and adopt the accounts for the year ended 30 September 2023 |
7,468,027 | 99.53 | 35,569 | 0.47 | 105,392 | 7,503,596 | 1.85 |
Resolution 2
To declare a final dividend of 2.5 pence per share |
7,573,419 | 99.53 | 35,569 | 0.47 | 0 | 7,608,988 | 1.88 |
Resolution 3
To receive and approve Directors’ Remuneration Report for the year ended 30 September 2023 |
6,542,419 | 92.09 | 562,249 | 7.91 | 504,320 | 7,104,668 | 1.75 |
Resolution 4
To re-elect Fiona Miller Smith as a Director |
7,341,291 | 97.65 | 176,404 | 2.35 | 91,293 | 7,517,695 | 1.85 |
Resolution 5
To re-elect Susannah Nicklin as a Director |
7,329,487 | 96.69 | 250,587 | 3.31 | 28,914 | 7,580,074 | 1.87 |
Resolution 6
To re-elect Michael Probin as a Director |
7,002,242 | 92.41 | 575,139 | 7.59 | 31,607 | 7,577,381 | 1.87 |
Resolution 7
To elect Isabel Dolan as a Director |
7,282,963 | 97.10 | 217,217 | 2.90 | 108,808 | 7,500,180 | 1.85 |
Resolution 8
To re-appoint BDO LLP as the independent Auditor |
6,909,204 | 96.22 | 271,062 | 3.78 | 428,722 | 7,180,266 | 1.77 |
Resolution 9
To authorise the Audit Committee to determine the remuneration of the independent Auditor |
7,124,672 | 99.30 | 50,396 | 0.70 | 433,920 | 7,175,068 | 1.77 |
Resolution 10
To authorise the Directors to allot ordinary shares |
7,260,347 | 95.68 | 327,991 | 4.32 | 20,650 | 7,588,338 | 1.87 |
Resolution 11
To authorise the Directors to disapply pre-emption rights |
6,910,882 | 91.32 | 657,269 | 8.68 | 40,837 | 7,568,151 | 1.87 |
Resolution 12
To approve the purchase of the Company’s own shares |
7,408,550 | 97.51 | 189,390 | 2.49 | 11,048 | 7,597,940 | 1.87 |
Resolution 13
General meeting called on not less than 14 clear days’ notice |
6,919,324 | 91.40 | 651,010 | 8.60 | 38,654 | 7,570,334 | 1.87 |
View or subscribe to the key shareholder information for this company.
All figures as at 31 August 2024 unless otherwise stated
Past performance is not a reliable indicator of future results
Baronsmead Venture Trust plc. Registered Office and address for correspondence: 5 New Street Square, London, EC4A 3TW Registered in England and Wales. Company Number: 03504214.
Date Launched | April 1998 |
Net Asset Value (£) | £222.7mn |
Net Asset Value (per share) | 57.57p |
Dividends paid since launch (per share) | 185.65p |
Annual average dividend in the past 10 years (per share) | 7.83p |
Annual average dividend since launch (per share) | 7.01p |
Financial Year Ended | 30 September |
Latest Net Asset Value | Total net assets £mn | Net asset value p | Net asset value total return since launch* p |
---|---|---|---|
31 August 2024 | 222.7 | 57.6 | 442.5 |
Source: Gresham House
For a link to the London Stock Exchange and the Share Price for Baronsmead Venture Trust plc, please click here:
Share Price for Baronsmead Venture Trust
Past performance is not a reliable indicator of future results
Historical data
Year ended (as at 30 September) | Total net assets £mn | Net asset value p | Net asset value total return since launch* p |
---|---|---|---|
2023 | 194.9 | 55.44 | 395.6 |
2022 | 193.8 | 61.3 | 405.2 |
2021 | 223.1 | 82.5 | 496.8 |
2020 | 164.8 | 71.4 | 396.7 |
2019 | 151.1 | 75.05 | 382.42 |
2018 | 175.5 | 91.47 | 423.65 |
2017 | 180.7 | 93.05 | 396.46 |
2016 | 150.6 | 87.09 | 363.36 |
2015 | 85.1 | 102.56 | 353.10 |
2014 | 83.1 | 98.62 | 318.80 |
2013 | 75.8 | 100.63 | 288.19 |
2012 | 72.4 | 101.10 | 252.04 |
2011 | 65.0 | 95.15 | 231.26 |
2010 | 63.7 | 94.79 | 208.25 |
2009 | 61.2 | 89.06 | 183.81 |
2008 | 54.8 | 91.68 | 184.02 |
2007 | 68.7 | 112.19 | 209.62 |
Year ended (as at 31 March) | Total net assets £mn | Net asset value p | Net asset value total return since launch* p |
2006 | 69.6 | 114.62 | 190.51 |
2005 | 69.6 | 116.92 | 168.70 |
2004 | 41.1 | 100.63 | 141.80 |
2003 | 36.7 | 89.65 | 115.49 |
2002 | 41.2 | 100.54 | 120.15 |
2001 | 45.0 | 112.30 | 130.66 |
2000 | 31.0 | 119.59 | 134.62 |
1999 | 9.5 | 95.65 | 104.44 |
* Source: Gresham House
Past performance is not a reliable indicator of future results
Year ended (30 September 2023) | Dividend p per share | Ex-dividend date | Record date | Pay date |
---|---|---|---|---|
Interim | 1.75 | 10 August 2023 | 11 August 2023 | 8 September 2023 |
Final | 2.50 | 8 February 2024 | 9 February 2024 | 8 March 2024 |
Past performance is not a reliable indicator of future results
Year ended (as at 30 September) | Total annual dividend p | Cumulative dividends p |
---|---|---|
2023 | 4.25 | 183.90 |
2022 | 5.75 | 179.65 |
2021 | 6.50 | 173.90 |
2020 | 6.50 | 167.40 |
2019 | 6.50 | 160.90 |
2018 | 7.50 | 154.40 |
2017 | 6.50 | 146.90 |
2016 | 18.50 | 140.40 |
2015 | 6.50 | 121.90 |
2014 | 12.50 | 115.40 |
2013 | 9.50 | 102.90 |
2012 | 7.50 | 93.40 |
2011 | 7.00 | 85.90 |
2010 | 5.50 | 78.90 |
2009 | 5.50 | 73.40 |
2008 | 7.00 | 67.90 |
2007 | 8.50 | 60.90 |
2006 | 11.00 | 52.40 |
2005 | 10.20 | 41.40 |
2004 | 4.90 | 31.20 |
2003 | 11.90 | 26.30 |
2002 | 2.50 | 14.40 |
2001 | 3.50 | 11.90 |
2000 | 3.60 | 8.40 |
1999 | 3.80 | 4.80 |
1998 | 1.00 | 1.00 |
Past performance is not a reliable indicator of future results.
Dividend p per share | Ex-dividend date | Record date | Pay date |
---|---|---|---|
2.50 | 8 February 2024 | 9 February 2024 | 8 March 2024 |
1.75 | 10 August 2023 | 11 August 2023 | 8 September 2023 |
2.75 | 02 February 2023 | 03 February 2023 | 03 March 2023 |
3.0 | 11 August 2022 | 12 August 2022 | 9 September 2022 |
3.5 | 03 February 2022 | 04 February 2022 | 04 March 2022 |
3.0 | 12 August 2021 | 13 August 2021 | 10 September 2021 |
3.5 | 04 February 2021 | 05 February 2021 | 05 March 2021 |
3.0 | 13 August 2020 | 14 August 2020 | 11 September 2020 |
3.5 | 06 February 2020 | 07 February 2020 | 06 March 2020 |
3.0 | 29 August 2019 | 30 August 2019 | 27 September 2019 |
4.5 | 07 February 2019 | 08 February 2019 | 08 March 2019 |
3.0 | 28 August 2018 | 29 August 2018 | 21 September 2018 |
3.5 | 01 February 2018 | 02 February 2018 | 02 March 2018 |
3.0 | 09 March 2017 | 10 March 2017 | 31 March 2017 |
8.5 | 01 September 2016 | 02 September 2016 | 30 September 2016 |
6.5 | 19 May 2016 | 20 May 2016 | 03 June 2016 |
3.5 | 03 December 2015 | 04 December 2015 | 18 December 2015 |
4.0 | 03 September 2015 | 04 September 2015 | 18 September 2015 |
2.5 | 28 May 2015 | 29 May 2015 | 19 June 2015 |
4.5 | 03 September 2014 | 05 September 2014 | 19 September 2014 |
8.0 | 19 February 2014 | 21 February 2014 | 07 March 2014 |
6.5 | 04 September 2013 | 06 September 2013 | 20 September 2013 |
3.0 | 29 May 2013 | 31 May 2013 | 14 June 2013 |
5.0 | 02 January 2013 | 04 January 2013 | 18 January 2013 |
2.5 | 30 May 2012 | 01 June 2012 | 15 June 2012 |
2024
5 March 2024 – Annual General Meeting
May/June 2024 – Announcement and posting of interim report for the six months to 31 March 2024
August 2024 – Quarterly factsheet to 30 June 2024
December 2024 – Announcement and posting of final results for the year to 30 September 2024
Prospective and current investors can invest in the Baronsmead VCTs by subscribing for shares when the Companies raise funds through new share issuance. Investors may also buy shares in the VCTs on the secondary market, but without the same tax benefits.
To check for any Offers currently open please visit our Offers page.
Investors can also access more information about the VCT share price and the company through the listed company (ticker: BVT)
Prospective investors should carefully consider the risks associated with this form of investment and seek advice from a qualified financial adviser. Investment in smaller unquoted companies involves a higher degree of risk than investment in larger companies. VCT shares are infrequently traded, so shares are often valued at a discount to their Net Asset Value and may be difficult to realise. Shareholders may be offered a price which is less than the full value of the underlying assets.
Date | Factsheet | Commentary |
---|---|---|
30/06/2024 | Factsheet - June 2024 >> | |
31/12/2023 | Factsheet - December 2023 >> | |
30/06/2023 | Factsheet - June 2023 >> | |
31/12/2022 | Factsheet - December 2022 >> | |
30/06/2022 | Factsheet - June 2022 >> | |
31/12/2021 | Factsheet - December 2021 >> | |
30/06/2021 | Factsheet - June 2021 >> |
Management and administration
Details of the management, administration, monitoring, arrangement and performance fees charged by Gresham House Asset Management Limited (the Manager or Gresham House) and co-investment arrangements are shown in the “Report of the Directors” section of the Company’s Annual Report and Accounts which are available in the “Report and Accounts” section on this web site. A summary of the fees and charges is shown below.
Annual running costs
Annual running costs, including fees payable to Gresham House, Directors’ fees, professional fees and the costs incurred by each Company in the ordinary course of business (but excluding any performance fees payable to the Manager and irrecoverable VAT), are capped at 3.5% of the Company’s net assets, any excess being met by Gresham House by way of reduction in future management fees.
The Manager is paid an annual management fee equivalent to 2.0% of the Company’s net assets which is paid quarterly in arrears.
The ongoing charges ratio as at 30 September 2019 was 2.2% (2018: 2.2%). This percentage is stated with reference to the average total shareholder funds over the last financial year.
Performance fees
performance fee will not be payable to the Manager until the total return on shareholders’ funds exceeds an annual threshold of the higher of 4% or base rate plus 2% calculated on a compound basis. To the extent that the total return exceeds the threshold over the relevant period then a performance fee of 10% of the excess will be paid to the Manager. The amount of any performance fee which is paid in an accounting period shall be capped at 5% of shareholder’s funds for that period.
A performance fee was last paid in the 2018 financial year.
Baronsmead Venture Trust plc (the Company) Anti-Corruption and Bribery Policy
A zero-tolerance approach is taken by the Board of Baronsmead Venture Trust plc to bribery and corruption. The Board are committed to acting professionally, fairly and with integrity at all times. Accordingly it expressly prohibits any Director or associated persons, when acting on behalf of the Company, from accepting, soliciting, paying, offering or promising to pay, or authorising any payment, public or private, in the United Kingdom or abroad to secure any improper benefit for them self or for the Company.
Bribery is the accepting of gifts, money, hospitality or other favours in return for providing something of value to the briber. The purpose of this policy is to set out the rules that must be followed to ensure that no bribery occurs.
The Bribery Act 2010 contains two general offences covering the offering, promising or giving of a bribe and the requesting, agreeing to receive or accepting of a bribe. It also sets out two further offences which specifically address commercial bribery: one relating to the bribery of a foreign public official in order to obtain or retain business or an advantage in the conduct of business and one creating a new form of corporate liability which an organisation can commit by failing to prevent bribery of any of its employees, subsidiaries, agents or service providers or other associated persons (defined as a person who “performs services” for or on behalf of an organisation and may include employees, contractors, agents, service providers and subsidiaries) in an attempt to obtain or retain business or a business advantage both in the UK or internationally.
The Directors of Baronsmead Venture Trust plc recognise their responsibilities in ensuring that the Company has a robust policy to avoid such practices and to ensure compliance with its legal obligations. The Board has requested that it is informed immediately of any identified instances of bribery or corruption within any of its principal service providers. On an annual basis, principal service providers are required to confirm to the Company that an anti-bribery policy and adequate procedures are in place and report any identified instances of bribery or corruption and details of the corrective courses of action taken.
As part of a risk based approach, the Board has delegated to the Audit Committee, the task of carrying out an annual risk assessment on matters relating to bribery, involving due diligence enquiries in respect of persons who perform or will perform services for or on behalf of the Company, in order to mitigate identified risks.
The Audit Committee will review this policy and procedures at least annually and report back to the Board who will ensure that it is publicly available both on the Company’s website and also in its Annual Report & Accounts.
Location:
Size:
Type:
This website uses cookies to help us provide the best experience for you. Please select 'Allow all' to consent to the use of cookies on your device or select 'Manage cookies' for more options. You can find out more in our online privacy and cookie policy.
Gresham House asks you to consent to the use of cookies, to store and access basic, first-party data about your website usage. Some of these cookies are essential to our site working properly and others help us improve the site by providing insight into how the site is being used. To allow us to provide the best website experience, we recommend that you accept the use of all cookies. Please note that some data processing may not require your consent but you have the right to object to such processing. Please read our online privacy and cookie policy which is available on our website.
Data collected in this category is essential to provide our services to you. The data is necessary for the website to operate and to maintain your security and privacy while using the website. These cookies are always on as they are critical to the website functioning correctly. This data is not used for marketing purposes or the purposes covered by the two categories below.
Data collected in this category is used to inform us about how the website is used, to improve functionality on our website and to help us to identify issues you may have when accessing our website. This data is not used to target you with advertising.
Data collected in this category is used to help make our messages more relevant to you. The data may be shared with our media partners and platforms we may use to deliver personalised advertisements and messages.