Risk Warning
October 2023
538
.....................4
........................................4
.................................4
............................................................................5
............................................................................5
..........................................................................5
.............................................................6
.........................................................6
........................... ................................................. 6
....................................................................11
...........................................................................11
................................................................................ 14
...................................................................... 15
Fluctuaons in value of investments
Suitability
Past performance
Legislaon
Taxaon
Venture capital trusts
Molten Ventures VCT (formerly Draper Esprit VCT)
PROs CONs
Molten Ventures (formerly Draper Esprit) VCT funds under management as at 31 July
2023
Source: Elderstreet Investments Limited
6
Generalist VCT provider 3,5 & 10 year performance comparison
VCT manager
(alphabetical
order)
VCT name Data as at
Annual
return
over
last 3
years
Annual
return
over
last 5
years
Annual
return
over
last 10
years
YFM
Source: Tax Efficient Review calculation based on dividend and Net Asset Value data from public accounts
Calculation: (Closing period NAV less Opening period NAV plus dividends paid in the period) divided by number of years in the period
Figures do not include tax relief
Report produced
04/10/2023
Provider results comparison
MOBEUS 6
YFM
ALBION
FORESIGHT
MERCIA
MOLTEN
MAVEN
OCTOPUS
BERINGEA
BARONSMEAD
Calculation as at 04/10/2023 and based on results in Table 3 for providers with ten year performance. In order to reduce the data
down to one figure, each VCTs’ position in the Table 3 results is scored from 1 (first in the year) to the total number of VCTs in the
analysis for the period (lower numbers are better), added together and then averaged over the three periods being measured
31 March
*
paid since the 31 March 2023 consisting of the first interim
dividend of 1.0p and final of 0.5p paid in September 2023
“The Company intends to continue to buy back
its Ordinary Shares at a discount of approximately
5.0% to the last published NAV, subject to liquidity”.
Sectors data as at 31 July 2023
Source: Elderstreet Investments Limited
Stage of investment by number of companies at current year revenue as at 31 July 2023
Source: Elderstreet Investments Limited
Exits achieved in the last 3 years by Molten Ventures VCT as at 30 Sep 2021
£8,130,429 £2,609,157 £12,829,726
Source: Elderstreet Investments Limited
“an exercise has commenced to identify suit-
able candidates to oversee the Company in this new
phase of its life. I expect that the Company will have
news of some changes over the coming months”
£m
£m
Y Y
Y Y
Y Y
Y
Y Y
Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
£m
£m
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Y Y
Source Elderstreet
Matrix of individual responsibilities for investment team
6
6 6 6
6 6 6
Source: Elderstreet Investments Ltd 30 Sept 2023
