Puma VCT 13
Applications open
Important Information - Venture Capital Trusts (VCTs) invest in small, early-stage, unlisted companies and are considered high-risk investments. It’s difficult to access your money in the short term and their value can go down as well as up so you could get back less than you put in. VCTs are long-term investments and should only be a consideration for experienced investors with larger portfolios. We suggest they form a small part of a diversified portfolio. This isn’t personal advice, if you’re unsure if VCTs are right for you, please consider taking advice. Tax rules can change, and their benefits depend on your individual circumstances.
About Puma VCT 13
Puma VCT 13 aims to provide returns by investing in companies that have graduated from start-up to scale-up.
Key facts
Annual dividend target of 5p per share. But dividends are not guaranteed.
Started in September 2017.
More than £165mn in assets under management.
Raising £50mn with an over-allotment facility of a further £20mn.
Before applying you should read the prospectus and key information document. This contains helpful information about how the VCT works and is invested, but also will help you understand any further risks you should be aware of.
VCT offer details
Open to UK investors located and resident in the UK.
Minimum application value of £3,000 and capped at a maximum of £200,000.
You must hold an HL Fund and Share Account to apply, you can open one during the application process.
Investors will qualify for a 0.6% rebate, this will be provided annually as bonus shares for 5 years.
The offer price will be established through the issue.
Shares are allocated in tranches by the VCT manager during the offer period. There may be a few weeks until your shares are allotted.
Applications can close early and at short notice, especially if there is strong demand.
Any application in this VCT should be made on the basis of the prospectus. These documents are provided by Puma Investments, Hargreaves Lansdown has not authorised or approved them and is not responsible for their accuracy.
Ready to Invest?
Make sure you’ve read these key documents. They cover in more detail the risks and investment strategy of this VCT.
Example companies held by Puma VCT 13
Aveni combines Natural Language Processing (NLP) expertise with financial services experience, to build AI solutions designed for the financial service industry.
LOVE CORN is a company which produces a corn snack, offering an alternative to crisps and flavoured nuts. The brand is sold in over 20,000 retail stores across the UK and US.
Pockit provides prepaid spending cards and current accounts to under-served communities. Its app enables international money transfers, direct debits, online and in-store purchases, and salary advances for unexpected expenses.
Past Performance
You can view the past performance data of this VCT on our factsheet. You’ll need to return to this page to place a deal. Past performance is not a guide to the future.
Costs and charges
| VCT manager initial charge: | 3% |
| HL saving on the initial charge: | 0% |
| Net initial charge: | 3% |
| Existing investor discount: | 1% |
| Ongoing charge: | 2.5% |
| Performance fee: | 20% |
Hargreaves Lansdown has waived the 0.6% initial commission. This will therefore be applied in subscription for extra Ordinary Shares at an issue price reflecting this fact.
If you wish to sell your VCT, a £29 telephone charge will apply. You'll be charged 0.35% (capped at £12.50 per month) for holding VCTs in a Fund and Share account. Learn more about our charges.
Existing investors must hold their VCT shares in an HL Fund and Share Account to qualify for the discount.
Other incidental charges for buying and selling investments may apply. Details on this are available in the prospectus and key information document.
Full breakdown of charges
The following charges are based on an investment of £10,000 within a Fund and Share Account over 5 years assuming a 5% growth rate. We’ve used the initial charge including the HL saving, but no further discounts like early bird or existing investor discounts have been applied. The annual rebate is also not included.
Holders should also get income from the VCT, on which there's no charge from HL and so isn't included in these figures. The income you’ll receive isn't guaranteed and you could get back less than you invest.
| Management charge | £161.57 |
| Entry dealing charge | £0.00 |
| Exit dealing charges | £29.00 |
| Stamp duty (N/A) | £0.00 |
| Net initial charge (3%) | £300.00 |
| Ongoing charge (2.5%) | £1,144.92 |
| Transaction costs | £1,371.38 |
| Incidental charges | £460.52 |
| Total charges over 5 years | £3,467.39 |
| Average annual charge | 7.48% |
| Illustrative 5-year value | £8,790.21 |
| Illustrative 5-year value with no charges applied | £12,762.82 |
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total | |
| HL charges | £33.56 | £32.93 | £32.30 | £31.70 | £60.09 | £190.57 |
| Management charge | £33.56 | £32.93 | £32.30 | £31.70 | £31.09 | £161.57 |
| Entry dealing charge | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 |
| Exit dealing charges | £0.00 | £0.00 | £0.00 | £0.00 | £29.00 | £29.00 |
| Investment charges | £918.28 | £606.62 | £595.18 | £583.96 | £572.79 | £3,276.82 |
| Stamp duty (N/A) | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 |
| Net initial charge (3%) | £300.00 | £0.00 | £0.00 | £0.00 | £0.00 | £300.00 |
| Net ongoing charge (2.5%) | £237.80 | £233.31 | £228.91 | £224.60 | £220.30 | £1,144.92 |
| Incidental charges | £95.65 | £93.84 | £92.07 | £90.34 | £88.61 | £460.52 |
| Transaction costs | £284.83 | £279.46 | £274.19 | £269.02 | £263.88 | £1,371.38 |
| Total charges over 5 years | £951.84 | £639.54 | £627.48 | £615.65 | £632.88 | £3,467.39 |
| Average annual charge | 9.91% | 6.79% | 6.79% | 6.79% | 7.12% | 7.48% |
| Illustrative 5 year value | £9,517.07 | £9,337.59 | £9,161.50 | £8,988.73 | £8,790.21 | £8,790.21 |
| Illustrative 5 year value with no charges applied | £10,500.00 | £11,025.00 | £11,576.25 | £12,155.06 | £12,762.82 | £12,762.82 |
The costs and charges shown are for illustration purposes only based on the assumptions presented. Total HL charges and 5 year HL charges also include a £29 exit dealing charge. Figures may not add up to the given total due to rounding.
Ready to Invest?
Make sure you’ve read these key documents. They cover in more detail the risks and investment strategy of this VCT.