Venture capital trust (VCT) provider Octopus Investments has announced the completed merger of four of its Alternative Investment Market (AIM) VCTs into two.
Octopus AIM VCT and Octopus Phoenix VCT have merged to become the enlarged Octopus AIM VCT, while Octopus Second AIM VCT and Octopus IHT AIM VCT have merged to become Octopus Second AIM VCT.
Both VCTs are now open for investment via top up offers. They are managed by Andrew Buchanan and Kate Tidbury, who have been involved with the AIM market since its inception. The pair moved to Octopus from Close Investments in 2008.
Commenting on the mergers, Buchanan says: ‘With combined portfolios of established companies, greater flexibility in fund management and reduced running costs for these VCTs, we can now look to drive value for shareholders.’
Buchanan adds: ‘We believe that, in effect, [AIM-quoted] companies constitute an emerging market sitting right under our noses, without any of the currency or political risk associated with overseas investment.’