Puma VCT 13
Open for investment
144.14p
NAV + Total Dividends as of 30 June 2024
16.5p
Dividends paid to date
Now open for investment
We are excited to announce a new £50 million fundraise for Puma VCT 13. This follows a successful year of capital deployment, offering investors the chance to invest in a diversified portfolio of high-growth businesses with the potential for attractive and stable returns.
Over the past year, we have achieved several key milestones. We now have over five years of investment experience, total assets exceeding £150 million, and a fourth dividend announced.1 In the three years from December 2021 to December 2024, we anticipate that the Company will have paid a total of 19.5p per Ordinary Share.
Past performance is not a guarantee of future results. Share prices and their values can go down as well as up. The payment of any dividends is not guaranteed, and any such payments may erode the capital value of any underlying investment.
2024 dividend announced
3p dividend declared to be paid in December 2024
All Puma VCT 13 investors, including new investors, who are shareholders on the company's register on 22 November 2024 are eligible for an upcoming 3p dividend1.
To ensure you don’t miss out on the dividend, valid applications and funds must be received and cleared2 before the capacity is reached or before the close of business on 15 November 2024 (whichever is earlier). Click here for more details.
Puma VCT 13 at a glance
net asset value
qualifying companies in the portfolio
dividend declared to be paid in December 20241
Source: Puma Investments. Figures correct at 31 August 2024
Six key reasons
Investing in long-term tax planning is essential to helping you achieve your financial goals. Scroll through the reasons to recommend Puma VCT 13.
1. Strong track record
Puma VCT 13 has been recognised as one of the best-performing generalist VCTs in the market on a five-year basis as at August 2024, with a total return (NAV growth plus dividends paid) of over 57%.3
Please refer to the full performance of Puma VCT 13 over five years.
3 MICAP, VCT performance public, period: five years as at 17 September 2024.
2. Established VCT
We’ve launched 15 Puma VCTs since 2004, raising over £380 million. As a series, the Puma VCTs have invested into over 60 qualifying companies and achieved over 35 full exits.
Puma VCT 13 has assets of more than £150 million, has already invested in over 20 companies and has achieved successful exits.
3. Diversified portfolio
As a multi-sector investor, we seek to build a diversified portfolio with exposure to different sectors, customers and operating models.
Puma VCT 13’s investment spans eight sectors, allowing for growth, while reducing the risk of severe loss from exposure to sector-specific challenges.
4. Scale-ups, not start-ups
Puma VCT 13 is focused on investing in businesses that have already proved themselves in their market. By investing in scale-up, high-growth businesses, there is the potential to achieve attractive levels of return with lower risk and volatility.
5. Active approach
We actively partner with the companies we invest in to help them achieve their growth ambitions. Our Investment Directors have a concentrated portfolio of businesses, allowing them to take a hands-on approach and provide meaningful support.
Our Value Creation team then offers guidance and commercial expertise at all levels within the organisation.
6. Rigorous processes
We ensure rigour through our Investment Committee, comprising of staff and independent experts. With their expertise and experience, we analyse each business, its financials, diligence program and investment structure to make informed decisions.
Tax benefits of a VCT
Investors can claim up to 30% income tax relief on VCT investments up to £200,000 per tax year, provided the VCT shares are held for at least five years.
Any gain made when VCT shares are sold is 100% free from capital gains tax.
Any dividends received from VCT shares are 100% tax-free, regardless of the investor's tax band.
Tax reliefs are not guaranteed, depend on individuals’ personal circumstances and a five-year minimum holding period, and may be subject to change.
LEARN MORE ABOUT VCTsStrong track record
Puma VCT 13 has been recognised as one of the best-performing generalist VCTs in the market on a five-year basis as at August 2024, with a total return (NAV growth plus dividends paid) of over 57%.3
We have orchestrated two full exits, including Pure Cremation, the UK’s leading provider of direct cremations. Puma VCT 13 realised a 4x money multiple on its investment after just two and a half years of holding the investment.
Delivering dividends
In the three years since Puma VCT 13 paid its first dividend, the company has paid a total of 19.5p per Ordinary Share. This averages at 6.5p per Ordinary Share over three years.
Over time it seeks to achieve an average dividend payment of 5p per Ordinary Share, per year, although this may vary significantly from year to year. It is anticipated that dividends will be generated over time when we exit portfolio companies or income generated from investments made.
VCT five-year performance
Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
NAV | 89.38p | 100.33p | 125.77p | 143.53p | 133.05p | 127.64p |
Dividends (per annum) | 0p | 0p | 0p | 11p | 5.5p | 0p |
Dividends (total) | 0p | op | 0p | 11p | 16.5p | 16.5p |
NAV + total dividends | 89.38p | 100.33p | 125.77p | 154.53p | 149.55p | 144.14p |
Puma VCT 13 latest published Net Asset Value (NAV) per Ordinary Share as of 30 June for each year (unaudited), and dividend per Ordinary Share data for the 12-month period preceding 30 June for each year.
3 MICAP, VCT performance public, period: five years as at 17 September 2024.
Past performance is not a guarantee of future results. Share prices and their values can go down as well as up. The payment of any dividends is not guaranteed, and any such payments may erode the capital value of any underlying investment.
Offer: Up to 1% initial fee
We are offering a limited-time discount for early investment into Puma VCT 13. Until 20 December 2024, the initial fees on all applications received will be discounted from 3% to 2%.
In addition, all investors who have previously invested in a Puma VCT will receive an additional loyalty discount, bringing the initial fee to 1%. See our fees below.
PUMA INITIAL FEE
3%
(plus VAT if applicable) of amount subscribed
PUMA ANNUAL MANAGEMENT FEE
2%
(plus VAT if applicable) of net asset value pa
PERFORMANCE FEE
20%
(plus VAT if applicable) of the investment gain within the portfolio (net of costs)
ADMINISTRATIVE FEE
0.35%
(plus VAT if applicable) of net asset value pa
GM and AGM results
See the results from Puma VCT 13's historical and most recent General Meeting and Annual General Meetings.
Dividend Reinvestment Scheme
The Scheme provides shareholders with the opportunity to reinvest their cash dividends into new shares in the VCT. New VCT shares attract the same tax reliefs as shares purchased through an offer for subscription.
Where to next?
Investment Overview
Read our Investment Overview to learn about Puma VCT 13 in more detail.
OPEN OVERVIEW
Our guide to VCTs
Read our guide to learn more about the tax benefits of investing in a VCT.
READ GUIDE
Dividend details
1 On 24 September 2024, the directors of the Company declared an interim dividend of 3p per ordinary share (the “Dividend”) with an ex-dividend date of 21 November 2024 and a record date of 22 November 2024 (the “Record Date”). New ordinary shares issued on or before the Record Date pursuant to valid applications and cleared funds received in respect of the first £20 million (in aggregate) in subscription monies (the “Maximum Shares”), where such applications are received during the period from (and including) 24 September 2024 to (and including) 15 November 2024, will be eligible to receive the Dividend. The Company will not issue new ordinary shares in respect of applications received on or after 16 November 2024 up to and including the Record Date (or if earlier, between the date on which the Company has issued the Maximum Shares and the Record Date). The Dividend will be paid on or around 16 December 2024.
2 We recommend funds are sent via bank transfer to avoid any potential delays. Cheques should be received no later than 6 November 2024.
Past performance is not a guarantee of future results. Share prices and their values can go down as well as up. The payment of any dividends is not guaranteed, and any such payments may erode the capital value of any underlying investment.
Risk factors
An investment in Puma VCT 13 carries risk and you should take your own independent advice. You should only invest in Puma VCT 13 on the basis of the prospectus which details the risks of the investment. Below are the key risks:
Tax reliefs: Tax reliefs are not guaranteed, depend on individuals’ personal circumstances and a five-year minimum holding period, and may be subject to change.
Liquidity: It is unlikely there will be a liquid market in the ordinary shares of Puma VCT 13 and it may prove difficult for investors to realise their investment immediately or in full.
Capital at risk: An investment in Puma VCT 13 involves a high degree of risk. Investors’ capital may be at risk.
General: Past performance of Puma Investments in relation to its other VCTs is no indication of future results. The payment of dividends is not guaranteed. Investors have no direct right of action against Puma Investments. The Financial Ombudsman Service/the Financial Services Compensation Scheme are not available.
Figures on this page are taken from Puma Investments and are correct as of 31 August 2023 unless stated otherwise.
Sources
For all performance data: Puma Investments. Figures correct at 31 August 2024, unless otherwise stated, and may be subject to rounding errors.