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ProVen Growth & Income VCT named as top dividend payer by AIC

November 11th 2013

New report published by Association of Investment Companies on VCT member dividends.

(London, UK) ProVen Growth & Income Venture Capital Trust (VCT) managed by Beringea, the growth capital investor, has been named by the AIC as the VCT which has paid the highest amount of dividends since launch among the ten highest performing VCTs over the
past 10 years. In a recently published report, the AIC states that “ProVen Growth & Income VCT has paid out the biggest total yield, at 154.9p per share, over the 12 years since launch”.

The AIC comments that with dividend payouts in the sector generally strong through the recession in 2008, the sector is established as one providing a source of regular and consistent income.

Stuart Veale, Managing Partner of Beringea LLP, the manager of the ProVen VCTs, said; “The unique tax-free status of VCT dividends, combined with the 30% income tax relief on the initial investment, make VCTs a very attractive option for investors looking for income. The ProVen VCTs have recognised the importance of high income to investors for many years, as demonstrated by the market leading dividend payment record of ProVen Growth & Income VCT and ProVen VCT over the last 10 years”.

As well as rating ProVen Growth & Income as the highest performing fund, the AIC also noted the strong performance of ProVen VCT which based on share price total return* is currently performing at 220% above its launch price.

*Share price total return assumes that dividends paid to shareholders are reinvested at the time the shares are quoted ex dividend.