Baronsmead Second Venture Trust PLC, a UK-based investment company, released its annual financial report for the fiscal year ending September 30, 2024. The report highlights the companys financial performance, investment strategy, portfolio review, and future outlook.
**Financial Highlights**
Net Asset Value (NAV) per share increased by 6.3% to 59.2p before dividend deductions.
A NAV total return of 337.7p for every 100.0p invested at launch in January 2001.
An annual tax-free dividend yield of 7.2% based on dividends paid and the opening NAV.
£13.4 million invested in 19 new and follow-on opportunities.
**Investment Policy and Style**
Baronsmead focuses on investing in a diverse portfolio of UK growth businesses, including unquoted and AIM-traded companies, in various sectors.
The company co-invests with Baronsmead Venture Trust plc and Mobeus VCTs, targeting unquoted and quoted companies.
Investments are made in expectation of value enhancement through private equity disciplines and active management.
The companys borrowing policy is for short-term liquidity purposes, up to 25% of gross assets.
**Chairs Statement**
Despite mixed economic conditions, the companys NAV per share increased by 6.3%.
The company aims for long-term positive returns from a diverse portfolio of UK growth companies.
The Board believes in the robustness of portfolio companies and is committed to supporting them.
The Board declares a final dividend of 2.25p per share, resulting in total dividends of 4.00p for the year, meeting the 7% target policy.
**Managers Review**
The year was influenced by macroeconomic and geopolitical factors, with modest UK equity market growth.
The AIM portfolio and WS Gresham House Equity Fund investments outperformed the unquoted portfolio.
The company invested £13.4 million in 19 companies, including new and follow-on investments.
The quoted portfolio delivered positive performance despite market uncertainties.
The unquoted portfolio decreased in value by 9.0% due to challenging macroeconomic conditions.
The company remains engaged with portfolio companies, providing insight and support.
**Outlook**
Geopolitical uncertainty is expected to continue in 2025, but the UK election results may bring some clarity.
The company expects attractive investment opportunities and is actively seeking new investments.
Gresham Houses experienced team is well-positioned to support portfolio companies and navigate challenges.
The full Annual Report and Accounts, as well as the Notice of Annual General Meeting, are available on the Baronsmead Second Venture Trust website.