VCT assets hit all-time high near £3bn

VCT funds under management have hit £2.9bn this year, the highest level since the sector was established in 1995.

Figures from the Association of Investment Companies (AIC) show funds under management increased by £19m in the first six months of 2013. Funds from new share issuance and share buybacks hit £94m, whilst £121m was returned to shareholders in the form of dividends. The biggest ten VCT managers continue to manage around three quarters of the total VCT funds under management. "VCTs continue to play a vital role in supporting small and medium-sized enterprises facing a finance gap," said AIC director general Ian Sayers (pictured). "We are seeing solid dividends amongst the establish...