Albion Enterprise VCT PLC (LON: AAEV) have seen their shares stumble despite posting an impressive figures in their half update.
Albion Enterprise VCT PLC is a Venture Capital Trust and the investment objective of the Company is to provide investors with a regular and predictable source of income, combined with the prospect of longer term capital growth.
Shares of Albion Enterprise VCT dipped 0.88% to 112p. 5/12/19 11:59BST.
The investment company reported NAV per share as at September 30 of 119.42 pence, up from 112.12p a year prior and 117.76p as at March 31.
The growth was helped by uplifts in value of Oviva AG and Koru Kids, the company noted. Shareholders will be pleased however, as the firm maintained its interim payout of 3p per share.
During the period, the company’s unrealised and realised gains was £3.9 million, it said, while £2.7 million was invested in new and existing companies.
“Significant” follow on investments included £606,000 in Proveca, for the reformulation of paediatric medicines, and £221,000 in Koru Kids, which provides an online marketplace connecting parents and nannies.
“We as a board see the portfolio as being well balanced across a variety of growth sectors,” said Chair Maxwell Packe.
“There is a strong pipeline of investments, as well as a number of existing businesses having the potential to continue to deliver positive returns,” added Packe.
Many VCT’s have updated the market, and firms have not been performing as well as Albion Enterprise.
Seneca Global Income & Growth Trust PLC have given shareholders a modest update, alluded to the tough political and economic conditions combined with the “volatility of underlying financial markets”.
Additionally, FTSE250 listed Monks Investment Trust (LON: MNKS) gave shareholders an update, which entailed a similar story to the one outlined by Seneca. Monk’s revealed they had underperformed in the market, however did allude to tough market conditions coupled with political and economic uncertainty.
The uncertain nature of Brexit negotiations has weighed upon the finance and investment scene, as Moody’s lowered the banking outlook from stable to negative on Tuesday, so shareholders should remain optimistic from the update given by Albion.