UK 15:13 Tuesday, 27 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I was interested to note Tom Winnifrith’s Saturday Bearcast covering the ongoing tug of war at AIM listed Hotel Corp. Referring to past performance, where Hotel Corp’s beleaguered shareholders were near-enough wiped out whilst pursuing a business model of property investment managed by Shore Capital, and proposals by the incumbent management at Hotel Corp to do it all again, Tom noted that he would be interested to see how the Shore Capital run Puma VCTs had been doing. Ever happy to oblige…..
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Comments
VINES
the tax break is the point of a VCT
puma have a good rep and this article prves it, each ones delivered a solid return
Nigel Somerville
Vines – I take your point, but if this proves that getting most of our £ back after five (or six) years is a good result, the VCT industry is surely just offering a product which shares the proceeds of the tax break between the fund manager and the investor, rather than trying to generate a genuine profit.
However, the main point of the exercise here was to show the fallacy of running Hotel Corp in this fashion when it would appear to have tried it already (and failed miserably), when economy of scale would work in reverse and there are no tax breaks. It seems a dead cert for failure. If investors want to put money into something like this, surely they would opt for the VCT equivalent, where they get 30% back up front?