Amati AIM VCT, a fund which brought all the firms VCTs together, has successfully raised £25 million by issuing new shares. A look at its track record in stock selection shows why this is of little surprise.
The firm has been early movers in renowned ’10 baggers’ such as car testing systems provider AB Dynamics and video game support services provider Keywords Studios.
Amati first invested in AB Dynamics when it was trading at 86p in 2013, shares now change hands for £17.22. It invested in Keywords during the companies maiden year on the markets, also in 2013 at around its offer price of 123p. Shares in this ‘buy and build’ specialist are now worth £16.24.
Since inception until 24 March 2010 the trust returned 100.65 percent versus its benchmark, the Numis Alternative Markets Total Return of 65 percent. Amati took over the trust on 25 March 2010.
The trust will now review the option to trigger a £20 million over-allotment facility later in 2020, dependent upon an appropriate number of investment opportunities arising.
Dr Paul Jourdan (pictured), founder of Amati, said in a statement: “We look to make long-term investments in innovative businesses which have the potential to become successful and significant AIM-quoted growth companies.
“In response to the COVID-19 pandemic we have seen many companies seeking to secure the finance they will need over the next few years; as a result, we have been very active in making further qualifying investments since mid-February. The majority have been into healthcare companies already held by the VCT, which we had been expecting to make further investments into in due course. The level of support they received from a wide range of investors has been particularly encouraging. Having completed a good number of these investments, we can provide re-assurance that the great majority of earlier-stage companies held in the portfolio are very well financed for their next stages of growth."