Mobeus News

Mobeus VCT Fundraising Rated Top Generalist

- Top rated generalist VCT Offer by Best Invest and Tax Efficient Review
- Award-winning Manager
- Opportunity to invest across four mature VCTs with approximately £180 million assets
- Strong flow of new investment opportunities in high quality smaller companies

The four VCTs managed by Mobeus Equity Partners (“Mobeus”) have launched a linked fundraising offer seeking to raise £24 million.

The five star rating awarded by Bestinvest and score of 86 out of 100 from Tax Efficient Review makes the Mobeus offer the top rated generalist VCT currently open for new investment.

2013 has been a very good year for Mobeus, winning the accolade of VCT Manager of the Year at the unquote” British Private Equity Awards for a second consecutive year. In addition, the Mobeus Income & Growth VCT was named the winner in the VCT category of Investment Week’s Investment Company of the Year Awards 2013.

The linked offer is open for investments of between £6,000 and £200,000 to be divided equally across the established portfolios of all four VCTs, which represent a significant asset pool of approximately £180 million with a portfolio of over 40 companies. The VCTs have raised funds since 2004 with Mobeus as sole Manager. They have launched with a track record of providing annual returns for their investors of between 8% and 15%, taking into account the relevant initial tax reliefs. The VCTs have an annual target dividend of not less than 4 pence tax-free. However, in their last full financial years, the Mobeus VCTs actually paid out dividends of 7.0p, 4.0p, 5.5p and 26.0p respectively. Last year’s Mobeus linked offer raised £25 million.

Mobeus Managing Partner, Mark Wignall, believes that Mobeus’s generalist approach to investing will make the issue an attractive proposition to investors. “The leading generalist VCTs will be popular this year because they can demonstrate good performance track records, significantly increased levels of tax-free dividends and  active management of  their buyback and discount policies. Generalist VCTs are getting much better at ensuring that both continuing and selling VCT shareholders have a good experience with their investment and we’re delighted to be the top rated generalist this year.”

Mobeus invests in UK companies that are privately owned, established and profitable, primarily to finance Management Buy Out (MBO) transactions. 2013 has seen a busy new investment period for Mobeus with approximately £30 million invested in five transactions. This has included the MBOs of two well-known consumer facing businesses; Gro, the nursery brand and UK number one baby sleep bag brand in the UK and Australia and Virgin Wines, the leading on line retailer of exclusive, boutique-quality wines through innovative customer loyalty schemes.

Bestinvest says “The team at Mobeus pursues a relatively conservative approach to investing in unquoted companies, by avoiding early-stage businesses and focusing instead on well-established smaller companies that are already profitable, often in support of a Management Buyout. Businesses are typically at the larger end of the VCT spectrum and once invested Mobeus will place directors on the Boards to help navigate companies towards an eventual sale.”

Tax Efficient Review says “Overall a generalist VCT offer that scores highly and deserves a place in most VCT portfolios based on past track record.”

12 December 2013

12 December 2013