Albion overhauls VCT asset allocation

VCT group Albion Ventures has reshaped its sector allocation, tripling environmental holdings and almost doubling healthcare stocks.

The change means 45% of Albion’s 9 VCTs, worth £230m in AUM, will be invested in the environment and healthcare.

Albion is making the moves using capital from positions sold last year and money gained in the fund-raising period. The group is aiming to raise £15m in a top-up offer by 5 April.

Albion has upped environmental holdings from 4% to 20%, believing further private sector involvement will be needed in future years. Its healthcare position is now at 25%, increased from 13%.

Patrick Reeve, managing partner, says both areas are non-cyclical and will continue to develop as demand increases.

“These sectors are growing in economic importance, contributing increasingly to global and British economic growth,” he says.

“We have long held an interest in these sectors and believe their importance will increase since people are not getting any younger and renewable energy and cleantech is here to stay. This year is the ideal time to increase our weighting in these sectors.”