Bluehone to merge Aim VCTs

  • Story by: Oliver Good
  • Magazine: InvestmentAdviser
  • Published Tuesday , June 24, 2008

Bluehone Investors plans to merge its £12m Aim VCT 1 into its £30m Aim VCT 2, in a bid to reduce administrative costs.

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The investment manager will put the proposals to shareholders at the funds’ extraordinary general meetings on 15 July 2008, with a view to merge the funds a week later.

Robert Mitchell, partner at Bluehone Investors, said he believed shareholders would welcome the move.

"The funds have similar mandates and a large percentage of crossholdings," he said.

"Shareholders will look on this as a chance to reduce the cost of their investment."

Mitchell said 68.9 per cent of the portfolio holdings in the proposed enlarged company would be common between the two portfolios.

For more information, see next week's Investment Adviser.

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