The board of Maven Renovar VCT (MVR) has slammed the underperformance of former investment manager Amati, as it urged shareholders to vote against all requisitioned resolutions brought forward by the latter.
In a stock exchange notice today (21 July), the board argued that "shareholders deserve better performance and better value for money than Amati provided". Maven was hired as the VCT's manager back in December 2024, displacing Amati and then manager Paul Jourdan after nearly 20 decades running the mandate. Maven have criticised Amati and Jourdan in the notice for overseeing a portfolio that had £106m of unrealised gains in January 2021, but only selling £10m of AIM holdings that year. Trade body calls on Treasury to reform VCT rules Since the Amati-Jourdan cohort called in the...
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