Baronsmead AIM VCT – strong advance in first quarter

The Directors of Baronsmead AIM VCT are pleased to announce the first quarter results for the 3 months to 30 April 2007.

These show growth in the Net Asset Value (NAV) of the ordinary shares of 5.8% to 109.0p per ordinary share. The NAV per C share was 95.2p following the Offer for 12m C shares at 95p (net proceeds) which was fully subscribed by 2 April 2007.

Chairman, Peter Lawrence, said: "We were delighted that the C share Offer proved popular. It was the only VCT Offer in the year to 5 April 2007 that reached full subscription. With total Net Assets now at almost £30m, we have achieved a good effective size to pursue our strategy of building a diversified portfolio of AIM investments."

"The Ordinary Share portfolio was 41% invested in AIM-traded companies at 30 April 2007 and this part of the portfolio grew by 18% in the quarter to generate the overall increase in total return. It is just over a year since we launched in March 2006 and despite the relatively high levels of cash within the portfolio, the total return for ordinary shareholders by 30 April 2007 had reached 15.3%. The VCT tax reliefs can also be added to this return dependent on the individual tax benefits received by each private investor. "

Henrietta Marsh, Fund Manager of Baronsmead AIM VCT, said: "ISIS as the Manager has developed a distinctive approach to investing in AIM-traded companies using private equity disciplines and its sector based expertise. Some early success has been seen from investments in Claimar, Concateno and Worthington Nicholls."

Baronsmead AIM VCT is managed by ISIS Equity Partners, who manage the five Baronsmead VCTs. Their combined net assets total over £280m at 31 March 2007.