In a release today (15 June), the board has stated that Amati, the previous investment manager of the VCT, “underperformed in an underperforming market” and sold just £10m of £106m unrealised gains.
Maven Renovar VCT tug of war continues as board warns off requisition
It stated that “the board lost confidence in Amati because of its failure to adapt in a changing market” as well as failing to show it had the “appropriate resource and expertise”.
Maven has also agreed to manage Maven Renovar for two years with no management fee, to demonstrate its commitment to shareholders and chan…
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