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About the company
Northern 2 VCT PLC is a United Kingdom-based venture capital trust (VCT). The Company’s objective is to provide high long-term tax-free returns to investors through a combination of dividend yield and capital growth, by investing primarily in unquoted United Kingdom manufacturing, service and technology businesses which meet the manager’s key criteria of good growth potential, strong management and ability to generate cash in the medium to long term. It also invests its remaining assets in a portfolio of equity investments, quoted investment funds and bank deposits. Its investment policy has been designed to enable the Company to achieve its objective whilst complying with the qualifying conditions set out in the VCT rules, as amended by Her Majesty's (HM) Government from time to time. It invests across various sectors, including software/electronics, consumer, industrial/manufacturing, services, and healthcare/biotechnology. Its investment manager is Mercia Fund Management Limited.
- Revenue in GBP (TTM)5.51m
- Net income in GBP2.85m
- Incorporated1999
- Employees0.00
- LocationNorthern 2 VCTForward House, 17 High StreetHENLEY-IN-ARDEN B95 5AAUnited KingdomGBR
- Phone+44 19 1244 6000Fax+44 19 1244 6001
- Websitehttps://nvm.co.uk/
Profile
| Management group(s) | Mercia Fund Management Limited |
|---|---|
| AIC sector | VCT Generalist |
| ISIN | GB0005356430 |
| Launch date | 21 Apr 1999 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | GBP |
Objective
The Company’s objective is to provide long-term tax-free returns to investors through a combination of dividend yield and capital growth, by investing primarily in unquoted UK businesses which meet the Manager’s key criteria of good growth potential, strong management and potential to generate cash in the medium to long term. The Directors intend that the long-term disposition of the Company’s assets will be approximately 80% in a portfolio of VCT-qualifying unquoted and AIM-quoted investments and 20% in other investments selected with a view to producing an enhanced return while avoiding undue capital volatility, to provide a reserve of liquidity which will maximise the Company’s flexibility as to the timing of investment acquisitions and disposals, dividend payments and share buy-backs.
Managed by
| Peter Dines |
|---|
Management & contract fees
Management fee of 2.06% p.a. of NAV. Performance fee is 12% of the total return in excess of a hurdle rate. The agreement may be terminated by not less than 12months notice.
Peer analysis
| Company | Revenue (TTM) | Net income (TTM) |
|---|---|---|
| Premier Miton Group PLC | 68.90m | 2.09m |
| Northern Venture Trust plc | 5.92m | 3.22m |
| VPC Specialty Lending Investments PLC | -10.18m | -25.83m |
| CQS Natural Rsrcs Grwth Inc PLC | -9.74m | -13.69m |
| Albion KAY VCT PLC | 4.80m | 2.14m |
| Molten Ventures VCT PLC | -5.00m | -8.05m |
| Amati AIM VCT PLC | -41.59m | -44.82m |
| Northern 2 VCT plc | 5.51m | 2.85m |
| Harmony Energy Income Trust PLC | -26.29m | -29.08m |
| Symphony International Holdings Ltd | 9.24m | -76.96m |
| Northern 3 VCT PLC | 5.76m | 3.04m |
| Middlefield Canadian Income PCC | 2.99m | -1.66m |
| Rights and Issues Investment Trust PLC | 18.31m | 17.08m |
| Artemis Alpha Trust PLC | 20.32m | 17.68m |
| Record Plc | 45.38m | 9.25m |
| Seraphim Space Investment Trust PLC | 7.33m | 3.31m |
