Open VCTs     VCT Performance Table     What Is A VCT?     VCT Email Alert     TER's View On The VCT Market     Order VCT Prospectus     FAQ   WELCOME TO THE TAX EFFICIENT REVIEW VCT PERFORMANCE PAGE. This table is unique: 1. PERFORMANCE FIGURES WITH AND WITHOUT INITIAL TAX BREAK - We now include: FIGURES IN RED - Internal Rate of Return calculations without the initial tax break. This is the annual growth rate that equates the outgoing original cost (usually 100p) with subsequent dividends and the latest Net Asset Value. The tables are sorted on this column. FIGURES IN BLUE -Internal Rate of Return calculations with the initial Income Tax relief deducted from original cost. The tax break was 20% up to 5 April 2004, 40% from 6 April 2004 to 5 April 2006 and 30% from then on. FIGURES IN BLACK - Internal rate of return factoring in the initial tax break, grossing up all dividends received and grossing up any capital gain. This figure shows the return that the VCT would have made in an investment without the benefit of any tax breaks. 2. BUYBACK INFORMATION - It now contains details on buybacks since August 2008. 3. DIVIDEND INFORMATION -It contains details of all dividends paid with date and amount 4. UP TO DATE -It is updated daily with Net Asset Values and dividend data 5. FIND RENAMED OR TAKEN OVER VCTs -You can search the VCT Performance page with the name of a VCT that has changed its name or been amalgamated. Each VCT name now includes details on any former name and any conversion details. Try searching on 'Quester' or 'Murray'! With more amalgamations/mergers/manager changes we expect this ability to increase in importance. Here is how to use the VCT Performance data: For VCTs that have been taken over, has a share class converted, amalgamated or merged, we show in the name field the new name of the VCT or share class and also show its old name together with dates and conversion ratios. For example take Elderstreet Millennium VCT (was Gartmore VCT, merged with Elderstreet VCT Nov 2006 with each share being converted to 0.381 Elderstreet share plus dividend of 22.5p per share). This performance line is for investors who bought into Gartmore VCT in April 1996 and saw their shares merged with Elderstreet Millenium at a conversion rate of 0.381 Elderstreet shares for each 1 Gartmore share. Following the merger, the Elderstreet Millenium performance figure has 0.381 of the net asset value and 0.381 of any dividends factored into its performance. 6. TRACK PERFORMANCE BY FUND RAISING DATES - What has become obvious is that with more follow on fund raisings from VCTs, one performance line per VCT does not work anymore except for investors investing on day one of a VCT’s life. We have therefore extended the performance table to include a line for each major fund raising (not top-ups) by VCT share class and we expect this to be completed by October 2008. Notes to table: PAST PERFORMANCE IS NO GUIDE TO FUTURE PERFORMANCE Column headings - Date first traded: date that the VCT's shares were first traded on the London Stock Exchange Initial price: Price that the VCT was issued at Dividends: Total dividends paid out by the VCT Net Asset Value: The latest NAV declared by the VCT NAV date: The date of the latest declared NAV Total Return: The total of dividends paid plus Net Asset Value IRR: Internal Rate of Return. The annual rate of growth of the VCT Tax Efficient Review believe that the best measure of performance is the IRR applied to the VCT's Net Asset Value rather than the share price. The share price is extremely volatile and at present there is little liquidity in the VCT market. Most shares sold end up with the VCT and are cancelled. The table has to be used with care as VCTs declare their Net Asset Values at different intervals. TABLE UPDATED 2 NOVEMBER 2009     Generalist VCTs launched in tax year 1995/96 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Albion Venture Capital Trust Ord shares (funds raised tax year 1995/96, name changed from Close Brothers Venture Capital Trust March 2009)   6.84% 9.61% 12.59% 31 July 2009 82.80 100 04 April 1996 187.60 Baronsmead VCT ord shares 1995/96 raised £8.7m at 100p per share   5.33% 7.82% 10.35% 31 August 2009 73.02 100 14 November 1995 169.55 Northern Venture Trust ord share 1995/96 fund raising   4.22% 6.52% 8.64% 30 September 2009 74.50 100 02 November 1995 155.90 British Smaller Companies VCT plc £4.2m raised at 100p per sharemainly in tax year 1995/96   2.39% 4.54% 5.96% 30 June 2009 84.90 100 05 April 1996 129.81 Elderstreet VCT (investors in Gartmore VCT in tax year 1995/96, name changed July 2000 to Elderstreet Millennium VCT, merged with Elderstreet VCT Nov 2006 with each share being converted to 0.381 Elderstreet share plus dividend of 22.5p per share)   -0.77% 1.63% 4.20% 30 June 2009 26.74 100 05 April 1996 92.96   Spark VCT (investors in Quester VCT plc in tax year 1995/96, merged with Quester VCT 2 and Quester VCT 3 27 June 2005, renamed Spark VCT June 2008)   -3.00% -0.33% 2.52% 30 June 2009 24.30 100 05 April 1996 77.90 Orbus VCT (investors in Guinness Flight VCT ord shares fund raising 1995/96, merged with Gateway VCT Sept 09, renamed Orbus VCT)   -5.30% -3.52% -3.03% 31 May 2009 41.07 100 05 April 1996 52.78   Crown Place VCT (investors in Murray VCT 1995/96 which was merged 13 Jan 2006 with Murray VCT 2 & Murray VCT 3 and renamed Crown Place with each Murray VCT share being swapped for 0.711 Crown Place shares)   -5.42% -3.24% -1.42% 31 March 2009 23.54 100 29 September 1995 58.97     Specialist VCTs launched in tax year 1995/96 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Foresight 3 VCT (investors in Advent VCT in tax year 1995/96, 3 shares converted into 1 on 16 May 2005, name changed to Foresight 3 VCT, July 2009 each share converted into 0.9115 share)   -7.02% -5.21% -4.44% 30 June 2009 84.95 300 05 April 1996 133.60   Generalist VCTs launched in tax year 1996/97 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Albion Venture Capital Trust Ord shares (funds raised tax year 1996/97, investors in Close Brothers VCT Plc C shares which were converted 1 for 1 to ord 31 May 2000, name changed March 2009)   7.07% 10.08% 13.27% 31 July 2009 82.80 100 04 April 1997 182.60   Albion Protected VCT (investors in Close Brothers Protected VCT Plc in tax year 1996/97 which raised £28m at 100p per share, name changed March 2009)   1.00% 3.28% 4.68% 31 July 2009 71.30 100 04 April 1997 110.74 Spark VCT (investors in Quester VCT plc raised ££18.7m in tax year 1996/97 at average 105p , merged with Quester VCT 2 and Quester VCT 3 27 June 2005, renamed Spark VCT June 2008)   -4.11% -1.22% 1.87% 30 June 2009 24.30 105 05 April 1997 76.97 Crown Place VCT (investors in Murray VCT 2 1996/97which was merged 13 Jan 2006 with Murray VCT & Murray VCT 3 and renamed Crown Place with each Murray VCT 2 share being swapped for 0.85 Crown Place shares)   -5.70% -3.32% -1.56% 31 March 2009 28.14 100 09 April 1997 60.13     Specialist VCTs launched in tax year 1996/97 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Oxford Technology VCT plc   -3.22% -1.15% 0.02% 31 December 2008 43.00 100 07 April 1997 70.88     AIM based VCTs launched in tax year 1995/96 and 1996/97 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Pennine AIM VCT ord shares (original investors, the VCT acquired Pennine AIM VCT II on 31 Oct 2005 at a conversion of .666 of a Pennine AIM share for each Pennine AIM II share)   2.98% 6.14% 10.01% 30 September 2009 37.90 100 04 April 1996 125.99 Rensburg AIM VCT (funds of £3.5m raised 96/97 at 100p per share as Capital for Companies VCT plc, name changed July 2004 to Rensburg VCT, merged with Rensburg VCT 19 Dec 05)   0.17% 2.72% 5.04% 31 July 2009 46.54 100 01 January 1997 101.60   Rensburg AIM VCT (funds of £3.8m raised 95/96 at 100p per share as Capital for Companies VCT plc, name changed July 2004 to Rensburg VCT, merged with Rensburg VCT 19 Dec 05)   0.16% 2.44% 4.46% 31 July 2009 46.54 100 01 January 1996 101.60   The AIM Distribution Trust (was Leggmason Investors AIM Distribution Trust plc) raised £16m in tax year 1996/97 at 100p   -1.03% 1.82% 4.80% 31 July 2009 36.20 100 06 May 1996 92.00     Generalist VCTs launched in tax year 1997/98 (Initial Income Tax Relief 20%, minimum five year holding period , CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Baronsmead VCT ord shares 1997/98 raised £10.4m at 104p per share   5.70% 8.94% 12.29% 31 May 2009 72.59 104 01 April 1998 161.79   Baronsmead VCT 2 ord shares 1997/98 £12.2m raised at 100p per share   5.22% 7.95% 10.28% 31 August 2009 88.54 100 06 April 1998 158.93 Downing Protected VCT I (was Downing Healthcare Protected VCT)   3.90% 6.40% 8.28% 31 March 2009 91.80 100 19 May 1997 145.20 Albion Development VCT (investors in tax year 1998/99 in Close Brothers Development VCT Plc which raised £14.6m at 100p, name changed April 2009)   2.66% 5.31% 7.10% 30 September 2009 76.80 100 26 January 1999 126.60 British Smaller Companies VCT further issue of ordinary shares tax years 1996/97 raised £3.3m at 100p per share   2.53% 4.89% 6.45% 30 June 2009 84.90 100 04 April 1997 128.77   Northern 2 VCT tax year 1998/99 at 100p raised £22m   2.28% 4.94% 6.61% 31 July 2009 77.09 100 01 April 1999 121.99   British Smaller Companies VCT further issue of ordinary shares tax years 1997/98 raised £7.6m at 105p per share   1.88% 4.37% 5.82% 30 June 2009 84.90 105 04 April 1998 125.27   Elderstreet VCT (investors in Elderstreet Downing VCT, merged with Elderstreet Millenium 28 Nov2006) raised £15.1m at 100p in tax year 1997/98   1.49% 4.13% 5.95% 30 June 2009 70.20 100 04 April 1998 114.20 Orbus VCT (investors in Guinness Flight VCT ord shares fund raising 1997/98, merged with Gateway VCT Sept 09, renamed Orbus VCT)   0.00% 0.00% 0.00% 31 May 2009 41.07     0.00   British Smaller Tech. Cos. VCT (acquired by British Smaller Tech. Cos. VCT 2 in Dec 2005 at a conversion rate of 0.6866 BSTC2 share for each BSTC one)   -4.66% -2.45% -1.91% 30 June 2009 51.97 100 04 May 1999 62.86   Crown Place VCT (investors in Murray VCT 3 1997/98 which was merged 13 Jan 2006 with Murray VCT & Murray VCT 2 and renamed Crown Place with each Murray VCT3 share being swapped for 1 Crown Place share)   -4.89% -2.34% -0.51% 31 March 2009 33.08 100 09 April 1998 66.01   Matrix Income & Growth 4 VCT Ord shares (investors in TriVen VCT plc which raised £19m tax year 1998/99 at 100p, name changed 18 Oct 2006 when shares were consolidated at a ratio of 2 TriVen for 1 MIG4)   -5.10% -2.92% -2.57% 31 July 2009 52.55 100 01 April 1999 59.89   Spark VCT (investors in Quester VCT 2 plc raised £23m in tax year 1998/99 at 105p per share, merged into Quester VCT 27 June 2005 when shareholders received 1.0249 Quester VCT share for each Quester VCT 2 share, renamed Spark VCT June 2008)   -7.42% -4.58% -2.23% 30 June 2009 24.90 105 18 March 1999 61.01     Specialist VCTs launched in tax year 1997/98 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Foresight VCT (original ordinary share investors in Foresight Tech. VCT 1997/98, name changed 15 January 2007, each ordinary converted to 0.688 of a C share and C shares renamed ordinary shares 15 January 2007)   16.51% 23.91% 35.13% 30 June 2009 26.96 100 18 November 1997 195.62   Foresight 3 VCT C shares (investors in Noble VCT, renamed April 2008 Enterprise VCT, merged with Foresight 3 VCT 10 September 2008 with 1 Foresight 3 C shares per 1 Enterprise, merged July 2009 with ord shares at conversion ratio of 0.506 ord per C share)   -0.96% 2.00% 4.53% 30 June 2009 47.15 100 14 March 1998 92.81 Spark VCT (investors in Quester VCT 2 plc in tax year 1997/98, merged into Quester VCT 27 June 2005 when shareholders received 1.0249 Quester VCT share for each Quester VCT 2 share, renamed Spark VCT June 2008)   -5.69% -2.99% -0.59% 30 June 2009 24.90 100 18 March 1998 63.89   Foresight 4 VCT (investors in Advent 2 VCT in tax year 1997/98, 3 shares converted into 1 on 16 May 2005)   -5.86% -3.49% -2.09% 31 August 2009 100.30 300 17 March 1998 177.65   AIM based VCTs launched in tax year 1997/98 and 1998/99 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Rensburg AIM VCT (funds of £2.6m raised 97/98 at 104.9p per share as Capital for Companies VCT plc, name changed July 2004 to Rensburg VCT, merged with Rensburg VCT 19 Dec 05)   -0.92% 1.41% 3.31% 31 July 2009 46.54 105 01 January 1997 95.95   Rensburg AIM VCT (funds of £7.8m raised 98/99 at 100p per share as BWD Aim VCT plc, name changed June 2004 to Rensburh AIM, merged with Rensburg VCT 19 Dec 05)   -2.29% -0.01% 1.30% 31 August 2009 48.89 100 09 July 1998 79.89   Pennine AIM VCT ord shares (1997/98 investors in Pennine AIM VCT II, acquired by Pennine AIM VCT on 31 Oct 2005 at a conversion of .666 of a Pennine AIM share for each Pennine AIM II share)   -4.30% -1.47% 1.47% 30 June 2009 23.04 100 01 May 1997 71.84   Bluehone AIM VCT ord shares raised £12m at 100p in 1998/99 (was AIM VCT, name changed 30 March 2007, merged with VCT2 23 July 2008 with ord shareholders receing 0.811 Bluehone vAIM VCT 2 shares)   -6.19% -3.53% -1.75% 11 August 2009 31.68 100 09 December 1998 61.08   Pennine Downing AIM VCT 2 (investors in 1997/98 in Pennine Downing AIM VCT plc , merged Jan 2008 into this VCT along with The Ethical AIM VCT at a conversion rate of 0.982 PDA2 shares for each PDA share)   -7.10% -4.87% -3.52% 31 July 2009 27.49 100 18 May 1998 50.92   Octopus AIM VCT ord shares (investors in Close AIM VCT Ord shares in tax year 1997/98 which raised £10m at 100p, each Ord share converted to 0.548 D shares 31 May 2008, renamed Ord shares Sept 2008)   -7.38% -5.54% -5.45% 05 August 2009 40.58 100 05 April 1998 41.94   ViCTory VCT (investors in Singer & Friedlander AIM VCT, merged with Singer & Friedlander AIM 2 VCT & Singer & Friedlander AIM 3 VCT February 2006, name changed June 2009)   -10.43% -7.46% -5.09% 31 July 2009 18.93 100 24 November 1998 51.33   Generalist VCTs launched in tax year 1998/99 (Initial Income Tax Relief 20%, minimum five year holding period , CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Data not yet loaded     Specialist VCTs launched in tax year 1998/99 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Data not yet loaded     Generalist VCTs launched in tax year 1999/00 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Baronsmead VCT 2 ord shares 1999/00 £10.5m raised at 102p per share   5.36% 8.40% 10.96% 31 August 2009 88.54 102 01 May 1999 156.43   ProVen VCT ordinary shares, raised £19m in tax year 1999/00 at 100p per share   5.13% 8.37% 11.59% 31 August 2009 53.10 100 11 April 2000 145.55 Baronsmead VCT 2 ord shares 1999/00 £18.3m raised at 130p per share   2.26% 5.38% 7.69% 31 August 2009 88.54 130 01 March 2000 154.13   Baronsmead VCT 2 ord shares 1999/00 £2.1m raised at 137p per share   1.52% 4.53% 6.70% 31 August 2009 88.54 137 01 January 2000 154.13   Chrysalis VCT (shareholders who invested in Downing Classic VCT plc, which was renamed Chrysalis A VCT then merged into Chrysalis VCT 2/3/2005 with 0.607 Chrysalis share per Chrysalis A share)   -1.99% 0.64% 2.25% 30 April 2009 50.50 100 13 May 1999 84.38   Chrysalis VCT (shareholders who invested in Downing Classic 2 VCT plc which was renamed Chrysalis B VCT then merged into Chrysalis VCT 2/3/2005 with 0.482 Chrysalis share per Chrysalis B share)   -7.44% -4.99% -4.24% 30 April 2009 40.10 100 11 April 2000 52.00   Talisman First VCT (5 shares consolidated into 1 on 23 Aug 2006)   -8.21% -5.90% -5.90% 30 June 2009 41.70 90 10 July 2000 41.70       Specialist VCTs launched in tax year 1999/00 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Oxford Technology 2 VCT plc   -4.98% -2.48% -1.90% 28 February 2009 54.00 100 10 April 2000 64.50   Foresight VCT (original C share investors in Foresight Tech. VCT 1999/00, name changed 15 January 2007, shares merged with ordinary shares 15 Jan 2007 and renamed Foresight VCT ordinary)   -6.54% -4.11% -3.14% 30 June 2009 39.20 100 01 November 1999 55.95   Spark VCT (investors in Quester VCT 3 plc in tax year 1999/00, merged into Quester VCT 27 June 2005 when shareholders received 0.9816 Quester VCT share for each Quester VCT 3 share, renamed Spark VCT June 2008)   -11.05% -8.68% -7.59% 30 June 2009 23.85 100 06 April 2000 37.64     AIM based VCTs launched in tax year 1999/2000 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Rensburg AIM VCT (funds of £5m raised 99/00 at 102.3p per share as BWD Aim VCT plc, name changed June 2004 to Rensburg AIM, merged with Rensburg VCT 19 Dec 05)   -3.16% -0.63% 0.87% 31 July 2009 46.54 102 09 July 1999 77.54   Rensburg AIM VCT (funds of £5m raised 99/00 at 146.8p per share as BWD Aim VCT plc, name changed June 2004 to Rensburh AIM, merged with Rensburg VCT 19 Dec 05)   -7.43% -4.94% -3.61% 31 July 2009 46.54 147 02 January 2000 77.54   Bluehone AIM VCT ord shares raised £3.9m at average 115p in 1999/00 (was AIM VCT, name changed 30 March 2007, merged with VCT2 23 July 2008 with ord shareholders receing 0.811 Bluehone vAIM VCT 2 shares)   -9.32% -6.48% -4.85% 11 August 2009 31.68 115 01 April 2000 59.08   Pennine Downing AIM VCT 2 (investors in 1999/00 in Pennine Downing Ethical name changed to The Ethical AIM VCT, merged into PDA2 with Pennine Downing AIM VCT at a conversion rate of 0.633 PDA2 share for each Ethical share)   -15.94% -13.84% -13.49% 31 July 2009 17.72 100 10 April 2000 21.18     Generalist VCTs launched in tax year 2000/01 (Initial Income Tax Relief 20%, minimum three year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Albion Technology & General VCT ord share (investors in Close Technology & General VCT ord shares which raised £14m at 100p in tax year 2000/01, name changed April 2009)   4.85% 8.17% 10.50% 30 June 2009 86.90 100 24 January 2001 141.15 Baronsmead VCT 3 ord shares 2000/01 raised £33.1m at 100p   4.79% 8.07% 10.22% 31 August 2009 100.40 100 30 March 2001 141.20 Baronsmead VCT 4 ord shares 2000/01 raised £18.6m at 100p   3.44% 7.01% 8.82% 31 August 2009 91.33 100 30 January 2002 125.33 Northern 2 VCT further issue tax year 2000/01 at 105p raised £22m   1.74% 5.03% 7.00% 31 July 2009 77.09 105 01 March 2001 118.79   Chrysalis VCT (was Downing Classic 3 VCT plc, merged with Chrysalis A VCT, Chrysalis B VCT and Chrysalis C VCT 2/3/05)   0.31% 3.30% 4.35% 10 July 2009 80.70 100 11 April 2001 102.40 Matrix Income & Growth 2 VCT (was Matrix Venture Fund VCT plc) raised £12m at 100p per share in tax year 2000/01   -0.40% 2.51% 3.79% 31 July 2009 70.15 100 22 December 2000 96.94 The Income & Growth VCT ord shares raised £42m at 100p in tax year 2000/01 (investors in TriVest VCT, managed by Matrix Private Equity & Partners since 2004)   -0.66% 2.16% 3.12% 30 June 2009 74.38 100 15 November 2000 94.83 Aberdeen Income & Growth VCT (was Murray VCT 4, name and investment remit changed 17 July 2007)   -0.87% 2.02% 3.59% 28 February 2009 61.30 100 06 April 2000 93.40 I-Net (renamed Chrysalis C VCT then merged into Chrysalis VCT 2/3/2005)   -5.18% -2.52% -1.69% 30 April 2009 51.08 100 10 October 2000 65.25   Aberdeen Growth VCT 1 which raised £24m in tax year 2000/01 at 100p   -5.39% -2.58% -1.85% 30 April 2009 53.70 100 06 April 2001 65.62   Spark VCT 2 (investors in Quester VCT 4 plc in tax year 2000/01, renamed June 2008, Spark VCT 3 merged into this VCT in Nov 2008)   -10.66% -8.19% -7.72% 30 June 2009 33.40 100 06 November 2000 40.30 Orbus VCT (investors in eTechnology VCT 2000/01, name changed to Gateway VCT December 2005, merge into Guinness Flight VCT 4 Sept 09 with each Gateway share receiving 0.81 Guinness Flight share, name changed to Orbus VCT)   -12.51% -10.17% -10.09% 31 December 2008 31.40 100 30 June 2000 32.40     Specialist VCTs launched in tax year 2000/01 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Data not yet loaded     AIM based VCTs launched in tax year 2000/01 (Initial Income Tax Relief 20%, minimum three year holding period, CGT could be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Octopus AIM VCT ord shares (investors in Close AIM VCT C shares in tax year 2000/01 which raised £20m at 100p, each C share converted to 1.0675 Ord shares 31 May 2004, each ord then converted to 0.5448 D share 31 May 2008, renamed Ord shares Sept 2008)   1.15% 4.78% 8.97% 05 August 2009 43.32 100 05 April 1998 108.01 Artemis AIM VCT (investors in tax year 2000/01 raised £33m at 100p in Artemis AIM VCT, merged into Artemis Aim VCT 2 31 March 2009 with each share receiving 0.801 Artemis AIM VCT 2 share and VCT then renamed Artemis AIM VCT)   -4.44% -1.73% -0.72% 15 September 2009 51.84 100 06 April 2001 69.69 Bluehone AIM VCT 2 ord shares raised £42m at 100p in 2000/01 (name changed from AIM VCT 2 30 May 2007, VCT1 merged in 23 July 2008)   -6.01% -3.29% -2.14% 06 October 2009 42.82 100 01 December 2000 61.82   Rensburg AIM VCT (funds of £6.6m raised 00/01 at 123.9p per share as Capital for Companies VCT plc, name changed July 2004 to Rensburg VCT, merged with Rensburg VCT 19 Dec 05)   -6.39% -3.42% -1.74% 31 July 2009 46.54 124 31 March 2001 77.70   ViCTory VCT (2000/01 investors in Singer & Friedlander AIM 3 VCT, merged with Singer & Friedlander AIM VCT and Singer & Friedlander AIM 2 VCT February 2006, name changed June 2009)   -7.40% -4.77% -4.18% 31 July 2009 45.09 100 05 March 2001 54.34 Northern AIM   -8.10% -5.35% -4.02% 31 July 2009 33.79 100 12 January 2001 53.09   Rensburg AIM VCT (funds of £1.1m raised 00/01 at 142.1p per share as BWD Aim VCT plc, name changed June 2004 to Rensburg AIM, merged with Rensburg VCT 19 Dec 05)   -8.18% -5.45% -4.05% 31 July 2009 46.54 142 01 January 2001 75.04   ViCTory VCT (investors in Singer & Friedlander AIM 2 VCT, merged into Singer & Friedlander AIM 3 VCT Feb 06, renamed June 2009)   -10.31% -8.03% -7.70% 31 July 2009 33.27 100 06 April 2000 38.52 Bluehone AIM VCT ord shares raised £1.6m at average 220p in May 2000 (was AIM VCT, name changed 30 March 2007, merged with VCT2 23 July 2008 with ord shareholders receing 0.811 Bluehone vAIM VCT 2 shares)   -16.55% -14.20% -13.31% 11 August 2009 31.68 220 01 April 2000 59.08     Generalist VCTs launched in tax year 2001/02 (Initial Income Tax Relief 20%, minimum three year holding period, CGT could be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks ProVen Growth & Income VCT ord shares (2001/02 investors in £7m fund raising by ProVen Media, name changed July 2005, shares consolidated Oct 09 when each ord share consolidated into 0.6178 New Ord)   9.34% 13.34% 17.92% 30 September 2009 43.69 100 28 June 2001 176.59 Northern 3 VCT launched in 2001/02   0.61% 3.75% 4.83% 30 June 2009 86.40 100 30 September 2001 104.50   British Smaller Tech. Cos. VCT 2 raised £6.4m in tax year 2000/01 and £0.9m in 2001/02 both at 100p per share   -1.10% 1.77% 2.55% 30 June 2009 75.70 100 10 April 2001 91.70   Aberdeen Growth Opportunities VCT funds raised 2001/02 at 100p   -2.61% 0.61% 1.00% 31 May 2009 76.88 100 05 April 2002 83.38   Acuity VCT (was Electra Kingsway VCT)   -6.58% -3.43% -2.60% 30 June 2009 51.30 100 01 March 2002 63.45   Spark VCT 2 (investors in Quester VCT 5 plc in tax year 2001/02, renamed Spark VCT 3 in June 2008, merged into Spark VCT 2 in Nov 2008 with each share in Spark 3 converting into 1.4613 Spark 2 shares)   -8.44% -5.63% -5.40% 30 June 2009 48.80 100 07 December 2001 52.30   Spark VCT 2 (investors in Quester VCT 5 plc raised £4m at 100p per share in tax year 2002/03, renamed Spark VCT 3 in June 2008, merged into Spark VCT 2 in Nov 2008 with each share in Spark 3 converting into 1.4613 Spark 2 shares)   -11.38% -7.64% -7.35% 30 June 2009 48.80 100 07 December 2003 52.30     Specialist VCTs launched in tax year 2001/02 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Leisure & Media VCT (suspended from trading 23 April 2009 as company voluntarily winds itself up)   -0.69% 2.78% 3.98% 30 September 2008 75.80 100 22 June 2001 95.60   Oxford Technology 3 VCT plc   -1.20% 2.04% 2.46% 28 February 2009 92.00 100 04 April 2002 92.00     Hygea VCT (investors in Bioscience VCT raised £7m in 2001/02, name changed April 2006)   -3.69% -0.62% -0.54% 30 June 2009 75.30 100 19 April 2002 76.55   ProVen Health VCT (2001/02 investors in Sitka Health Fund VCT, name changed to Noble Health Fund VCT and March 09 to ProVen Health VCT )   -4.80% -1.93% -1.12% 31 July 2009 55.70 100 30 June 2001 69.20     AIM based VCTs launched in tax year 2001/02 (Initial Income Tax Relief 20%, minimum three year holding period, CGT could be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Unicorn AIM VCT Ord shares 2001/02 raised £35m at 100p   -0.27% 3.32% 5.81% 30 September 2009 56.30 100 05 November 2001 98.30 Artemis AIM VCT (investors tax year 2001/02 raised £8.9m in C shares, converted to ord shares 23 April 2002 with each C share converting to 1.04 ord shares, then merged March 2009 into Artemis VCT 2 with each ord receiving 0.801 Artemis AIM VCT 2 shares)   -4.64% -1.57% -0.46% 15 September 2009 53.92 100 01 April 2002 71.60   Rensburg AIM VCT (funds of £1.4m raised 01/02 at 110.4p per share as Capital for Companies VCT plc, name changed July 2004 to Rensburg VCT, merged with Rensburg VCT 19 Dec 05)   -5.82% -2.56% -0.79% 31 July 2009 46.54 110 01 January 2002 74.70   Octopus Second AIM VCT ord shares 2001/02 (formerly Leggmason Investors AIM VCT,renamed Close Second AIM VCT 2004 and Octopus Second AIM VCT Sept 2008)   -7.87% -5.04% -3.44% 30 September 2009 32.29 100 19 June 2001 54.89 Pennine Downing AIM VCT 2 (investors in 2000/01, The Ethical AIM VCT and Pennine Downing AIM VCT 2 were merged into this VCT on 16 January 2008)   -8.31% -5.33% -3.32% 31 July 2009 28.00 100 31 May 2001 55.00 Noble AIM VCT (investors in T&G AIM VCT ord shares £2m raised in tax year 2001/02, name changed to Noble Income & Growth VCT, merged with Noble AIM VCT Oct 2008 with 0.646 Noble AIM Ord for each 1 share in NIG)   -10.25% -7.42% -7.33% 31 May 2009 45.08 100 27 March 2002 46.04     Generalist VCTs launched in tax year 2002/03 (Initial Income Tax Relief 20%, minimum three year holding period, CGT could be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Baronsmead VCT ord shares (investors in C shares raised £10.7m in tax year 2002/03, converted to 1.1044 ordinary shares October 2004)   9.91% 33.70% 47.94% 31 May 2009 81.96 100 31 March 2005 132.85 Albion Development VCT (investors in tax year 2002/03 in Close Brothers Development Plc C shares which raised £11.7m at 100p, converted to 1.0715 ordinary shares 31 March 2007, name changed April 2009)   2.68% 6.45% 8.40% 30 September 2009 82.29 100 28 October 2002 117.94   Northern 3 VCT further £3.7m funds raised March 2003   0.58% 4.47% 5.77% 30 June 2009 86.40 100 02 March 2003 103.50   Acuity VCT top-up 2002/03 tax year (was Electra Kingsway VCT)   -12.66% -8.46% -7.50% 30 June 2009 51.30 119 02 April 2004 63.45     Specialist VCTs launched in tax year 2002/03 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Data not yet loaded     AIM based VCTs launched in tax year 2002/03 (Initial Income Tax Relief 20%, minimum three year holding period, CGT could be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Artemis AIM VCT (investors in tax year 2002/03 in Artemis AIM VCT raising £0.7m at 70p per share, merged into Artemis Aim VCT 2 31 March 2009 with each share receiving 0.801 Artemis AIM VCT 2 share and VCT then renamed Artemis AIM VCT)   -0.28% 3.51% 4.98% 15 September 2009 51.84 70 04 April 2003 68.84 Artemis AIM VCT (investors in tax year 2002/03 in Artemis AIM VCT raising £1.1m at 87p per share, merged into Artemis Aim VCT 2 31 March 2009 with each share receiving 0.801 Artemis AIM VCT 2 share and VCT then renamed Artemis AIM VCT)   -3.44% -0.16% 1.04% 15 September 2009 51.84 87 01 August 2002 68.84 Octopus Phoenix AIM VCT Ord shares raised £10m in tax year 2002/03 at 100p per share (name changed May 2009 from Phoenix AIM VCT)   -5.99% -2.30% -0.08% 31 August 2009 41.00 100 08 January 2003 70.00 Noble AIM VCT (investors in T&G AIM VCT C shares in tax year 2002/03, name changed to Noble Income & Growth VCT, C shares converted to 1.136 ord shares 17 Nov 2005, merged with Noble AIM VCT Oct 2008 with 0.646 Noble AIM Ord for each 1 share in NIG)   -10.27% -6.86% -6.75% 31 May 2009 51.22 100 05 June 2003 52.32     Generalist VCTs launched in tax year 2003/04 (Initial Income Tax Relief 20%, minimum three year holding period, CGT could be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Proven VCT £1.1m top-up March 2004 at 95p per share   12.45% 19.28% 26.88% 31 August 2009 53.10 95 16 March 2004 150.85   Albion Development VCT (investors in tax year 2003/04 in Close Brothers Development Plc VCT C shares which raised £7m at 100p, converted to 1.0715 ordinary shares 31 March 2007, name changed April 2009)   3.00% 7.68% 10.08% 30 September 2009 82.29 100 21 January 2004 116.26   Spark VCT 2 (investors in Quester VCT 5 plc raised £2m at 97.8p per share in tax year 2003/04, renamed Spark VCT 3 in June 2008, merged into Spark VCT 2 in Nov 2008 with each share in Spark 3 converting into 1.4613 Spark 2 shares)   -13.43% -2.81% -2.42% 30 June 2009 48.80 98 07 December 2004 51.80     Specialist VCTs launched in tax year 2003/04 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Data not yet loaded     AIM based VCTs launched in tax year 2003/04 (Initial Income Tax Relief 20%, minimum three year holding period, CGT could be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Unicorn AIM VCT Series 2 shares 2003/04 raised £16m at 100p   -1.31% 3.01% 4.40% 30 September 2009 74.59 100 05 February 2004 93.34   Octopus AIM VCT ord shares (investors in Close AIM VCT D shares in tax year 2003/04 which raised £3.1m at 100p, merged with Ord shares 31 May 2008, renamed Ord shares September 2008)   -1.58% 2.65% 3.49% 30 September 2009 80.59 100 05 April 2004 91.89 Pennine AIM VCT ord shares (investors in C shares 2003/04 which were converted to 1.4023 ordinary shares at 31 Oct 2003)   -7.45% -3.44% -1.86% 30 June 2009 48.51 100 31 July 2003 66.76   Artemis AIM VCT (investors in tax year 2003/04 in Artemis AIM VCT raising £2m at 106p per share, merged into Artemis Aim VCT 2 31 March 2009 with each share receiving 0.801 Artemis AIM VCT 2 share and VCT then renamed Artemis AIM VCT)   -8.19% -4.06% -2.59% 15 September 2009 51.84 106 01 April 2004 68.84 Bluehone AIM VCT 2 ord shares £2m raised at average 97p in 2003/04 (name changed from AIM VCT 2 30 May 2007, VCT1 merged in 23 July 2008)   -10.11% -5.94% -4.55% 15 September 2009 43.65 97 01 April 2004 57.75     Generalist VCTs launched in tax year 2004/05 (Initial Income Tax Relief 40%, minimum three year holding period, CGT could not be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Proven VCT £2.9m top-up March 2005 at 108p/113p per share   5.53% 25.86% 36.72% 31 August 2009 53.10 110 23 March 2005 129.85   British Smaller Companies VCT C share issue tax year 2004/05 raised £1.2m at 100p per share (converted to 1.1247 ordinary shares 9 May 2007)   1.71% 15.27% 18.40% 30 June 2009 95.48 100 03 April 2005 107.20 Northern 3 VCT tax year 2004/05 top-up at 99p per share raising £10m   0.46% 14.48% 17.89% 30 June 2009 86.40 99 30 March 2005 100.80 Octopus Eclipse VCT (investors in Eclipse VCT ECL, name changed November 2008, raised £30m in tax year 2004/05 at 100p per share)   0.40% 12.83% 16.01% 31 March 2009 76.09 100 01 August 2004 101.79 Baronsmead VCT ord shares (investors in C shares raised £20.9m in tax year 2004/05, converted to 1.129 ordinary shares 31 March 2007)   -0.11% 14.24% 17.77% 31 May 2009 81.96 100 31 March 2005 99.57 Baronsmead VCT 2 ord shares (investors in C shares raised £17.1m at 100p in tax year 2004/05, each C share converted into 0.9657 Ord shares on 29 Jan 2007)   -0.21% 11.65% 14.23% 31 August 2009 85.50 100 01 December 2004 99.03   Core VCT (investors in Core VCT I which raised £10m in tax year 2004/05, merged into VCT III along with VCT II with each VCT I share converting to 0.9313 VCT III shares and to pay a special dividend of 10p on 28 July 2009, renamed Core VCT)   -0.38% 12.33% 15.15% 31 August 2009 81.30 100 04 April 2005 98.38 Matrix Income & Growth VCT raised £20.9m in tax year 2004/05 at 100p   -0.59% 11.40% 14.06% 30 June 2009 81.09 100 08 October 2004 97.39 Aberdeen Growth Opportunities VCT 2 2004/05 raised £7.7m at 100p per share   -2.24% 10.57% 12.74% 30 June 2009 86.50 100 05 April 2005 91.00 Neptune Calculus Income & Growth VCT 2004/05 raised £3.7m at 100p   -3.30% 8.20% 10.10% 30 August 2009 77.80 100 30 November 2004 85.80 Acuity VCT 2 (was Electra Kingsway VCT 2, raised £33m in tax year 2004/05 at 100p per share)   -3.66% 7.98% 9.69% 30 June 2009 80.09 100 03 December 2004 84.59 Octopus Eclipse VCT 2 (investors in Eclipse VCT 2, name changed November 2008) raised £18.4m in tax year 2004/05   -4.51% 7.69% 9.62% 31 August 2009 71.90 100 29 March 2005 82.15 Albion Income & Growth VCT (name changed from Close Income & Growth VCT March 2009) raised £45m in tax year 2004/05   -5.18% 6.35% 8.17% 05 July 2009 65.68 100 07 October 2004 78.83 Elderstreet VCT (investors in C shares which raised £1.5m in tax year 2004/05 at 100p, C shares converted to ord shares Oct 08 at a conversion ratio of 0.6691 ord share per C share)   -6.34% 6.94% 10.66% 30 June 2009 46.97 100 04 April 2005 77.63   Spark VCT 2 (investors in Quester VCT 5 plc raised £1m at 96.9p per share in tax year 2004/05, renamed Spark VCT 3 in June 2008, merged into Spark VCT 2 in Nov 2008 with each share in Spark 3 converting into 1.4613 Spark 2 shares)   -22.86% -11.03% -10.68% 30 June 2009 48.80 97 07 December 2006 50.80     Specialist VCTs launched in tax year 2004/05 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Ventus VCT raised £15m in 2004/05 at 100p per share   5.67% 19.25% 22.83% 31 July 2009 114.50 100 15 March 2005 126.40   Oxford Technology 4 VCT plc raised funds in tax year 2004/05   0.00% 12.31% 14.48% 31 December 2008 100.00 100 08 August 2004 100.00     Foresight 2 VCT ord share 2004/05 fund raising of £18m at 100p   -3.14% 8.70% 10.62% 30 June 2009 79.20 100 20 December 2004 86.80 ProVen Health VCT (2004/05 investors in Sitka Health Fund VCT C1 Shares, name changed to Noble Health Fund VCT, converted 9 Nov 2006 to 1.173 ord shares, name changed March 09 to ProVen Health VCT)   -8.53% 3.22% 4.05% 31 July 2009 65.33 100 05 April 2005 68.58 ProVen Health VCT (2004/05 investors in Sitka Health Fund VCT C Shares, name changed to Noble Health Fund VCT, converted 30 June 2005 to 0.947 ord shares, name changed March 09 to ProVen Health VCT)   -12.13% -2.14% -1.96% 31 July 2009 52.74 100 20 October 2004 54.16   Keydata Income VCT 1 (raised £4.5m in tax year 2004/05 at 100p per share, managed since June 2009 by Foresight Group)   -13.09% -1.84% -1.25% 31 May 2009 51.18 100 16 February 2005 55.51   Keydata Income VCT 2 (raised £4.5m in tax year 2004/05 at 100p per share, managed since June 2009 by Foresight Group)   -13.09% -1.84% -1.25% 31 May 2009 51.18 100 16 February 2005 55.51     AIM based VCTs launched in tax year 2004/05 (Initial Income Tax Relief 40%, minimum three year holding period, CGT could not be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Unicorn AIM VCT II ord shares 2004/05 fund raising   -0.22% 12.54% 15.41% 30 September 2009 81.06 100 06 May 2005 99.06 Octopus AIM VCT ord shares (investors in Close AIM VCT D shares in tax year 2004/05 which raised £15m at 100p, merged with Ord shares 31 May 2008, renamed Ord shares September 2008)   -2.28% -0.34% -0.24% 05 August 2009 74.50 100 05 April 1998 77.00   Rensburg AIM VCT (funds of £1.4m raised 04/05 at 76.8p per share as BWD Aim VCT plc, name changed June 2004 to Rensburg AIM, merged with Rensburg VCT 19 Dec 05)   -3.84% 9.28% 12.38% 31 July 2009 46.54 77 01 January 2005 65.54   Noble AIM VCT (investors in First State VCT in 2004/05 which raised £11.2m at 100p per share. name changed 29 June 2007, Noble Income & Growth merged into this VCT Oct 2008)   -4.57% 8.29% 10.77% 31 August 2009 65.36 100 29 March 2005 82.66 Hargreave Hale VCT (investors in Keydata AIM VCT ord shares 2004/05 raised £14m at 100p per share, renamed Oct 2009   -5.70% 5.86% 7.79% 31 August 2009 60.05 100 29 October 2004 77.05 Artemis AIM VCT (investors in tax year 2004/05 in Artemis AIM VCT 2, Artemis AIM VCT shareholders merged with this VCT 31 March 2009 and the VCT renamed Artemis AIM VCT)   -7.29% 3.77% 4.80% 15 September 2009 64.73 100 14 January 2005 70.93 Octopus Phoenix AIM VCT Ord shares (investors in Phoenix AIM VCT C shares raised £5m at 100p per share in tax year 2004/05, converted 2 March 2009 with 1.35 ord shares per 1 C share, name changed Mayl 2009)   -10.74% 0.93% 2.12% 31 July 2009 53.35 100 21 March 2005 62.35 Invesco Perpetual AIM VCT 2004/05 fund raising £24m at 100p   -11.17% -0.60% 1.76% 31 August 2009 39.40 100 03 August 2004 58.40 Artemis AIM VCT (investors in tax year 2004/05 in Artemis AIM VCT raising £4.9m at 117p per share, merged into Artemis AIM VCT 2 31 March 2009 with each share receiving 0.801 Artemis AIM VCT 2 share and VCT then renamed Artemis AIM VCT)   -12.25% -0.49% 1.54% 15 September 2009 51.84 117 04 April 2005 68.84 New Century AIM VCT   -13.53% -1.27% -0.66% 28 February 2009 53.03 100 24 March 2005 57.13   Framlington AIM VCT   -13.64% -3.61% -3.11% 02 October 2009 46.66 100 02 December 2004 50.66 Northern AIM top-ups raised £2m 2004/05 at 73p per share   -16.20% -5.78% -5.78% 31 July 2009 33.79 73 23 March 2005 33.79   Pennine AIM VCT 5 raised £22m at 100p per share in tax year 2004/05 (tender offer in March 2009 purchased 1m shares at 24.3p for cancellation)   -23.48% -14.08% -13.52% 31 August 2009 27.50 100 14 February 2005 31.00   Limited Life VCTs launched in tax year 2004/05 (Initial Income Tax Relief 40%, minimum three year holding period, CGT could not be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Puma VCT II (2004/05 raised £8.3m at 100p)   1.10% 12.80% 15.09% 31 August 2009 102.86 100 20 December 2004 105.26   Puma VCT (2004/05 raised £12m at 100p)   0.91% 12.82% 15.12% 31 July 2009 101.86 100 20 December 2004 104.26   Triple Point VCT redeemed at 92p in July 2008 plus dividends of 5.43p   -0.41% 13.87% 22.72% 01 November 2008 1.00 100 01 October 2004 98.43   Downing Protected VCT II (VCT in process of returning capital to shareholders from July 2008 to June 2011) raised £10m tax year 2004/05   -2.55% 11.10% 19.54% 29 August 2009 1.40 100 01 February 2005 90.40 Downing Protected VCT III (VCT in process of returning capital to shareholders from July 2008 to June 2011) raised £10m tax year 2004/05   -2.56% 11.11% 18.89% 01 May 2009 9.40 100 01 February 2005 90.40   Ingenious Music VCT raised £15m at 100p in tax year 2004/05 (in voluntary winding-up to return capital, delisted 28 Aug 2008, returned 55p to end June 2009, nav is Tax Efficient Review estimate only)   -7.85% 5.24% 11.65% 30 June 2009 18.00 100 05 April 2005 73.00     Generalist VCTs launched in tax year 2005/06 (Initial Income Tax Relief 40%, minimum three year holding period, CGT could not be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Northern 2 VCT further issue tax year 2005/06 at 91p raised £6.3m   2.67% 22.02% 27.99% 31 July 2009 77.09 91 01 March 2006 98.59   Baronsmead VCT 4 ord shares (investors in C shares raised £20m in tax year 2005/06 at 100p converted to ord shares end January 2009 at a ratio of 1.037 ord share for each C share   1.90% 19.52% 23.29% 31 August 2009 94.70 100 10 March 2006 106.31   Core VCT (investors in Core III which raised £17m in tax year 2005/06, VCT I & II merged into this VCT and a special dividend of 12p was paid on 28 July 2009, renamed Core VCT)   1.11% 17.69% 21.54% 31 August 2009 87.30 100 24 March 2006 103.80   Core VCT (investors in Core VCT II which raised £17m in tax year 2005/06, merged into VCT III along with VCT I with each VCT II share converting to 1.007 VCT III shares and paid a special dividend of 12p on 28 July 2009, renamed Core VCT)   1.00% 17.56% 21.36% 31 August 2009 87.91 100 24 March 2006 103.41   Baronsmead VCT 3 ord shares (investors in C share raised £22.5m in tax year 2005/06 at 100p, each C share converted into 0.8564 Ord shares on 28 January 2008   0.61% 16.58% 20.25% 31 May 2009 88.74 100 11 October 2005 102.16   British Smaller Companies VCT ord share top-up tax year 2005/06 raised £1.4m at 99.5p per share   -0.03% 18.93% 23.67% 30 June 2009 84.90 100 04 April 2006 99.40   Matrix Income & Growth 3 VCT raised £19m in tax year 2005/06 at 100p   -1.63% 12.55% 15.12% 30 June 2009 88.40 100 16 August 2005 93.95 Matrix Income & Growth 2 VCT C shares (was Matrix Venture Fund VCT, raised £8.6m in tax year 2005/06 at 100p per share)   -2.47% 12.57% 15.12% 31 July 2009 87.47 100 16 December 2005 91.47   Aberdeen Growth Opportunities VCT (investors in C shares in tax year 2005/06, converted into ord shares 28 Feb 2009 with 1.185 ord shares per one C share)   -2.79% 13.53% 16.05% 31 May 2009 91.10 100 15 February 2006 91.10     Acuity VCT 3 (was Electra Kingsway VCT 3, raised £35m at 100p per share in tax year 2005/06, name changed 5 March 2008)   -4.29% 10.67% 12.90% 30 June 2009 82.20 100 01 December 2005 85.70   Northern Venture Trust C share 2005/06 fund raising £20.7m at 100p per share (each C share converted into 0.9321 ord shares as at 29 October 2009)   -4.89% 9.67% 12.01% 30 September 2009 74.50 100 06 January 2006 83.50   Chrysalis VCT (investors in D shares in tax year 2005/06, converted April 2009 to ord shares at a rate of 0.772 ord shares per D share, plus dividend of 16.75p)   -5.49% 11.85% 15.17% 30 April 2009 64.23 100 28 March 2006 84.23   ProVen Growth & Income C shares £25m raised in tax year 2005/06 at 100p (was ProVen Media, name changed July 2005, tender offer 2009 purchased 5.079m shares at 75.35p per share, converting to Ord shares with 1.619 ord for each C share)   -5.98% 8.59% 10.81% 30 September 2009 70.70 100 12 January 2006 80.30 Albion Technology & General VCT C share (investors in Close Technology & General VCT C shares which raised £35m at 100p in tax year 2005/06, name changed March 2009, to convert to ord shares in 2011)   -6.12% 9.25% 11.50% 30 June 2009 73.30 100 04 January 2006 80.80 Neptune-Calculus Income & Growth VCT (investors in C share issue in tax year 2005/06, converted April 2009 into ord shares at rate of 0.9457 ord share for each C share)   -6.99% 7.58% 9.30% 30 August 2009 73.57 100 01 February 2006 77.51   Octopus Eclipse VCT 3 ord shares, raised £29m in tax year 2005/06 (name changed from Octopus Eclipse 3 VCT December 2008)   -8.55% 5.41% 6.76% 31 May 2009 67.80 100 01 October 2005 72.50 Octopus Eclipse VCT 4 ord shares, raised £29m in tax year 2005/06 (name changed from Octopus Eclipse 4 VCT December 2008)   -8.56% 5.42% 6.77% 31 May 2009 67.80 100 01 October 2005 72.50 Chrysalis VCT (investors in E shares in tax year 2005/06, converted April 2009 to ord shares at a rate of 0.483 ord shares per E share, plus dividend of 26.75p)   -11.04% 5.33% 10.13% 30 April 2009 40.18 100 28 March 2006 70.18   Foresight 3 VCT C shares (investors in 2005/06 in Noble VCT A shares at 91p , renamed April 2008 Enterprise VCT, merged with F3 VCT 10 Sept 2008 with 1 F3 C shares per 1 Enterprise, merged July 2009 with ord shares at ratio of 0.506 ord per C share)   -16.97% -1.97% -1.11% 30 June 2009 47.15 91 04 April 2006 51.40   Bedford Row VCT ord shares (investors in Arc Growth VCT ord shares raised £1.8m in tax year 2005/06, new manager Elderstreet appointed December 2008)   -23.07% -13.17% -11.84% 31 August 2009 26.10 100 01 May 2005 33.10     Specialist VCTs launched in tax year 2005/06 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Foresight 3 VCT Ord shares (funds raised between October 2005 and April 2006, July 2009 each share converted into 0.9115 share)   6.57% 26.45% 32.34% 30 June 2009 84.95 84 05 April 2006 101.95   Foresight 4 VCT funds raised between October 2005 and April 2006 at an average proce per share of 108.49p   1.22% 18.66% 22.78% 31 August 2009 100.30 108 05 April 2006 112.80   Ventus 3 VCT raised £11m in tax year 2005/06   -0.50% 16.72% 20.11% 14 July 2009 93.00 100 04 April 2006 98.40   Ventus 2 VCT raised £11m in tax year 2005/06   -0.50% 16.72% 20.11% 14 July 2009 93.00 100 04 April 2006 98.40   IBIS Media VCT I   -3.28% 12.79% 15.18% 31 July 2009 89.50 100 05 April 2006 89.50     ProVen Health VCT (2005/06 investors in 10% top-up tax year in Sitka Health Fund VCT, name changed toNoble Health Fund VCT and in March 09 to ProVen Health VCT)   -11.52% 4.12% 5.75% 31 July 2009 55.70 94 03 March 2006 64.20   Keydata Income VCT 2 (further issue which raised £3m in tax year 2005/06 at 100p per share, managed since June 2009 by Foresight Group)   -16.91% -2.58% -1.87% 31 May 2009 51.18 100 16 February 2006 55.18   Keydata Income VCT 1 (further issue which raised £3m in tax year 2005/06 at 100p per share, managed since June 2009 by Foresight Group)   -16.91% -2.58% -1.87% 31 May 2009 51.18 100 16 February 2006 55.18     AIM based VCTs launched in tax year 2005/06 (Initial Income Tax Relief 40%, minimum three year holding period, CGT could not be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Baronsmead AIM VCT ord shares 2005/06 £16.8m fund raising at 100p per share   -4.80% 11.15% 13.95% 15 September 2009 74.75 100 23 March 2006 84.95 Hargreave Hale VCT (investors in Keydata AIM VCT C share offering Oct 05 which raised £18m, each C share converted into 1.24 ord shares Oct 08, renamed Oct 2009)   -5.67% 9.05% 11.17% 31 August 2009 74.45 100 18 January 2006 81.37   Octopus IHT AIM VCT A shares (investors in 2005/06, was Close IHT AIM VCT, renamed Sept 2008)   -7.21% 7.15% 8.97% 07 October 2009 70.20 100 25 January 2006 76.60 Octopus IHT AIM VCT A shares (B share investors in 2005/06 who converted into A shares in June 2009 on a 1 for 1 basis, was Close IHT AIM VCT, renamed Sept 2008)   -7.21% 7.15% 8.97% 07 October 2009 70.20 100 25 January 2006 76.60 Rensburg AIM VCT (funds of £6.3m raised 05/06 at 80p per share as BWD Aim VCT plc, name changed June 2004 to Rensburg AIM, merged with Rensburg VCT 19 Dec 05)   -7.39% 8.75% 12.04% 31 July 2009 46.54 80 01 January 2006 62.54   Octopus Second AIM VCT ord shares 2005/06 (investors in Close Second AIM VCT C shares which raised £8m at 100p per share, renamed Octopus Second AIM VCT Sept 2008, each C share converted June 2009 to 2.4313 ord shares)   -7.93% 8.60% 10.66% 10 June 2009 72.45 100 05 April 2006 77.41   Octopus Second AIM VCT (2005/06 investors in Close Second AIM VCT D shares £12m, renamed OSA Sept 2008, shares of investors not taking in-specie distribution of AIM shares in mid 2009, D share = 1 C share, C share = 2.4313 ord shares )   -7.93% 8.60% 10.65% 10 June 2009 72.45 100 05 April 2006 77.40 Octopus IHT AIM VCT B shareholders investing in 2005/06 who converted their shares into specie holdings in June 2009 which is included in dividends (was Close IHT AIM VCT, renamed Sept 2008)   -8.12% 7.61% 17.74% 10 June 2009 0.00 100 25 January 2006 76.00   Pennine AIM VCT 6 (raised £26m in tax year 2005/06 at 100p per share, dividend of 26.85p paid 31 July 2009, in-specie IHT option abandoned March 2009)   -9.59% 4.53% 8.62% 31 August 2009 40.10 100 19 January 2006 70.10   Unicorn AIM VCT II C shares 2005/06 fund raising   -9.63% 3.80% 4.70% 30 September 2009 66.83 100 04 January 2006 68.83   Framlington AIM VCT 2   -9.97% 4.25% 6.61% 31 August 2009 53.31 100 21 December 2005 69.31 Noble AIM VCT (investors in First State VCT in 2005/06 which raised £15.5m at average 118p per share. name changed 29 June 2007, Noble Income & Growth merged into this VCT Oct 2008)   -10.88% 5.24% 7.89% 31 August 2009 65.36 118 29 March 2006 82.66 Bluehone AIM VCT 2 C shares raised in 2005/06 (name changed from AIM VCT 2 30 May 2007)   -14.60% -1.30% -0.82% 06 October 2009 54.32 100 14 February 2006 57.32   Invesco Perpetual AIM VCT May-June 2005 £2.4m top-up at average 109p   -15.10% -2.98% -0.28% 31 August 2009 39.40 109 05 May 2005 58.40   ViCTory VCT (investors in Singer & Friedlander AIM 3 VCT C shares, converted into 1.1368 ordinary shares at 9 Dec 2005, name changed June 2009)   -16.34% -4.12% -4.12% 31 July 2009 51.25 100 01 November 2005 51.25   Noble AIM VCT (investors in Noble Income & Growth VCT ord shares raised £1m at 99p per share in tax year 2005/06, merged with Noble AIM VCT Oct 2008 with 0.646 Noble AIM Ord for each 1 share in NIG)   -17.98% -3.93% -3.75% 31 May 2009 51.22 99 05 March 2006 52.19   Invesco Perpetual AiM VCT Jan-Apr 2006 further issue £22m at average 117p per share   -22.14% -8.64% -6.42% 31 August 2009 39.40 117 01 March 2006 52.90   Octopus Second AIM VCT (2005/06 investors in Close Second AIM VCT D shares £12m, renamed OSA Sept 2008, shares of investors taking in-specie distribution of AIM shares in mid 2009, final value included as 76.3 divcidend)   -76.10% -70.26% -66.26% 10 June 2009 0.00 100 05 April 2006 4.95     Generalist VCTs launched in tax year 2006/07 (Initial Income Tax Relief 30%, minimum five year holding period, CGT could not be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Elderstreet VCT top-up tax year 2006/07 raised £0.8m at 68.89p per share   11.07% 34.19% 44.43% 30 June 2009 70.20 69 01 April 2007 84.70   Foresight 2 VCT C share 2006/07 fund raising £14m at 100p per share   2.87% 19.95% 23.96% 30 June 2009 103.80 100 03 March 2007 106.80   Aberdeen Growth Opportunities VCT 2 S shares 2006/07   -1.07% 16.19% 19.59% 30 June 2009 95.40 100 04 April 2007 97.65   British Smaller Companies VCT ord share top-up tax year 2006/07 raised £9.2m at 102.5p per share   -3.58% 14.27% 18.16% 30 June 2009 84.90 103 04 April 2007 94.90   Albion Enterprise VCT (investors in Close Enterprise VCT £20m launch in tax year 2006/07 at 100p per share, name changed March 2009)   -3.99% 13.00% 15.70% 30 June 2009 88.10 100 05 April 2007 91.45   Matrix Income & Growth 4 VCT further issue of shares raised £14.6m in tax year 2006/07 at 121p per share   -4.47% 11.61% 14.22% 31 July 2009 105.10 121 04 April 2007 109.10   Core VCT V raised £11m in tax year 2006/07 (co-invests with Core VCT IV)   -5.93% 10.46% 13.08% 30 June 2009 80.30 100 04 April 2007 87.30   Core VCT IV raised £11m in tax year 2006/07 (co-invests with Core VCT V)   -5.98% 10.40% 13.01% 30 June 2009 80.20 100 04 April 2007 87.20   Acuity VCT (was Electra Kingsway VCT) C shares   -8.89% 6.19% 7.48% 30 June 2009 80.50 100 03 March 2007 80.50     ProVen VCT C share issue tax year 2006/07 at 100p raised £14.6m   -10.48% 4.17% 5.41% 31 August 2009 72.30 100 04 April 2007 77.05   ProVen Health VCT (2006/07 investors in fundraising when £6m was raised at 93.97p per share, name changed March 09 to ProVen Health VCT)   -19.64% -5.98% -5.65% 31 July 2009 55.70 94 11 April 2007 57.20   Foresight VCT top-up to ordinary shares   -24.91% -11.17% -9.78% 30 June 2009 39.20 81 04 April 2007 44.20     Specialist VCTs launched in tax year 2006/07 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Data not yet loaded     AIM based VCTs launched in tax year 2006/07 (Initial Income Tax Relief 30%, minimum five year holding period, CGT could not be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Hargreave Hale VCT 2 (investors in Keydata AIM VCT 2 ord shares, raised £4.6m at 100p in tax year 2006/07, renamed Oct 2009)   6.13% 21.13% 25.50% 31 August 2009 108.45 100 01 December 2006 117.45   Unicorn AIM VCT Series 3 shares, 2006/07 raised £5m at 100p   -4.93% 9.75% 11.79% 30 September 2009 87.20 100 04 April 2007 88.20   Pennine AIM VCT D shares 2006/07   -5.29% 8.85% 10.65% 30 September 2009 87.00 100 09 March 2007 87.00     Baronsmead AIM VCT ord shares (investors in C shares in tax year 2006/07, converted into 0.938904 Ord shares on 31 July 2007)   -12.14% 1.83% 3.02% 31 July 2009 67.06 100 05 February 2007 73.13   Noble AIM VCT (investors in First State VCT in 2006/07 which raised £0.9m at average 133p per share. Name changed 29 June 2007, Noble Income & Growth merged into this VCT Oct 2008)   -20.82% -7.05% -4.73% 31 August 2009 65.36 133 29 March 2007 79.36 Octopus Phoenix AIM VCT Ord shares (investors in top-up in tax year 2006/07 at 126p per share (name changed May 2009 from Phoenix AIM VCT)   -39.27% -29.20% -29.20% 31 July 2009 39.50 126 04 April 2007 39.50     Limited Life VCTs launched in tax year 2006/07 (Initial Income Tax Relief 30%, minimum five year holding period, CGT could not be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Edge Performance VCT C shares raised £13m in March 2007 (expected to be offered an exit or conversion to D shares after five years)   -0.11% 22.77% 26.85% 28 February 2009 85.81 100 04 April 2007 99.81   Ingenious Live VCT 2 raised £9m in tax year 2006/07   -2.29% 16.88% 20.27% 31 March 2009 95.50 100 04 April 2007 95.50     Ingenious Live VCT 1 raised £9m in tax year 2006/07   -2.29% 16.88% 20.27% 31 March 2009 95.50 100 04 April 2007 95.50     Octopus Protected VCT   -2.52% 10.94% 13.28% 31 July 2009 90.20 100 17 October 2006 93.20 Octopus Apollo VCT (investors in Apollo VCT, name changed November 2008) raised £8.4m in tax year 2006/07   -2.56% 10.79% 13.00% 31 July 2009 91.80 100 16 October 2006 93.05 Octopus Apollo VCT 2 (investors in Apollo VCT 2, name changed November 2008) raised £8.4m in tax year 2006/07   -2.56% 10.79% 13.00% 31 July 2009 91.80 100 16 October 2006 93.05 Downing Protected VCT VII raised £9m in tax year 2006/07, planned to return capital from July 2012 to June 2014   -3.93% 11.72% 14.33% 01 August 2009 87.20 100 15 March 2007 90.95 Downing Protected VCT VI raised £9m in tax year 2006/07, planned to return capital from July 2012 to June 2014   -4.84% 10.68% 12.99% 31 July 2009 87.20 100 15 March 2007 88.95   Triple Point TP70 (raised £30m in tax year 2006/07 at 100p per share)   -11.25% 7.01% 8.49% 28 February 2009 79.65 100 04 April 2007 79.65       Generalist VCTs launched in tax year 2007/08 (Initial Income Tax Relief 30%, minimum five year holding period, CGT could not be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Foresight 2 VCT C share 2007/08 fund raising £7.8m further issue at 100p per share   5.49% 40.92% 49.96% 30 June 2009 103.80 100 04 April 2008 106.80   The Income & Growth VCT (was TriVest VCT) £12m S share issue Jan 2008 (managed by Matrix Private Equity & Partners)   -4.28% 21.49% 25.95% 30 June 2009 93.66 100 01 January 2008 93.66     Octopus Titan VCT 1 raised £15m at 100p in tax year 2007/08   -6.53% 24.76% 30.10% 30 April 2009 91.50 100 04 February 2008 92.00   Octopus Titan VCT 2 raised £15m at 100p in tax year 2007/08   -6.53% 24.76% 30.10% 30 April 2009 91.50 100 04 February 2008 92.00   Northern 2 VCT further issue 2007/08 at 95p raised £8.1m   -6.66% 21.86% 28.15% 31 July 2009 77.09 95 01 March 2008 86.59   Albion Enterprise VCT (investors in Close Enterprise VCT further issue of £5m ordinary shares at 100p in tax year 2007/08, name changed March 2009)   -6.69% 19.07% 23.02% 30 June 2009 88.10 100 04 January 2008 90.35   ProVen VCT £1.34m top-up March 2008 at 90.5p per share   -8.32% 26.72% 43.48% 31 August 2009 53.10 91 04 April 2008 82.10   Bedford Row VCT C shares (investors in Arc Growth VCT C shares raised £0.2m in tax year 2007/08, new manager Elderstreet appointed December 2008)   -10.62% 10.72% 12.98% 31 August 2009 82.94 100 01 January 2008 82.94     Oxford Technology 3 VCT top-up at 102p per share March 2008   -10.79% 32.36% 39.58% 28 February 2009 92.00 102 04 April 2008 92.00     Acuity VCT 2 (was Electra Kingsway VCT 2) C share   -11.20% 23.68% 28.83% 31 March 2009 88.00 100 03 March 2008 88.00     British Smaller Companies VCT ord share top-up tax year 2007/08 raised £5.2m at 106.25p per share   -12.98% 17.16% 21.72% 30 June 2009 84.90 106 04 April 2008 89.90   Elderstreet VCT top-up Jan-Apr 2008 raising £962,000 at 91.6p per share   -13.16% 18.08% 23.65% 30 June 2009 70.20 92 04 April 2008 77.70   Neptune-Calculus Income & Growth VCT C share £370,000 top-up 2007/08 at 93.8p per share (converted April 2009 into ord shares at rate of 0.9457 ord share for each C share)   -14.43% 10.57% 13.12% 30 August 2009 73.57 94 04 April 2008 75.51   Neptune-Calculus Income & Growth VCT ord share £310,000 top-up 2007/08 at 100.1p per share   -15.02% 9.80% 12.16% 30 August 2009 77.80 100 04 April 2008 79.80   Foresight 2 VCT ord share 2007/08 fund raising £1.8m top-up at 105p per share   -18.52% 9.22% 11.63% 30 June 2009 79.20 105 04 April 2008 81.80   ProVen Health VCT (2007/08 £0.5m top up in Noble Health Fund VCT at 79.2 p per share, name changed March 09 to ProVen Health VCT)   -23.23% 0.35% 0.43% 31 July 2009 55.70 79 01 April 2008 55.70     ProVen Growth & Income VCT £0.6m top-up March 2008 at 1.05p per share (shares consolidated Oct 09 when each ord share consolidated into 0.6178 New Ord)   -25.82% 1.46% 15.18% 30 September 2009 43.69 105 04 April 2008 74.69     Specialist VCTs launched in tax year 2007/08 (Initial Income Tax Relief 20%, minimum five year holding period, CGT could be deferred ) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Hygea VCT £129,000 top-up in 2007/08 at 50p per share   39.19% 85.65% 103.07% 30 June 2009 75.30 50 04 April 2008 75.30     Oxford Technology 2 VCT top-up at 71p per share March 2008   -26.12% 9.61% 11.73% 28 February 2009 54.00 71 04 April 2008 54.00       AIM based VCTs launched in tax year 2007/08 (Initial Income Tax Relief 30%, minimum five year holding period, CGT could not be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Noble AIM VCT (investors in 2007/08 which raised £7m at average average 95p per share. Noble Income & Growth merged into this VCT Oct 2008)   -12.50% 1.46% 2.17% 31 August 2009 65.36 95 29 March 2007 68.86   Limited Life VCTs launched in tax year 2007/08 (Initial Income Tax Relief 30%, minimum five year holding period, CGT could not be deferred) Fund Name IRR without tax breaks IRR with initial tax break IRR after initial tax, grossed up dividends and grossed up CGT Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Puma VCT V (2007/08 raised £7.5m at 100p)   0.67% 34.29% 41.66% 30 June 2009 99.83 100 04 April 2008 100.83   Downing Protected VCT IX raised £9m in tax year 2007/08, planned to return capital from July 2013 to June 2015   -5.45% 26.16% 32.05% 30 June 2009 90.80 100 04 April 2008 93.30   Downing Protected VCT VIII raised £9m in tax year 2007/08, planned to return capital from July 2013 to June 2015   -5.56% 35.45% 43.25% 31 March 2009 94.50 100 04 April 2008 94.50   Edge Performance VCT D shares raised £19m in March 2008 (expected to be offered an exit or conversion to E shares after five years)   -6.10% 39.32% 48.11% 28 February 2009 94.47 100 04 April 2008 94.47   Ingenious Entertainment VCT 2 raised £10m tax year 2007/08   -8.59% 31.10% 37.94% 31 March 2009 91.50 100 04 April 2008 91.50     Ingenious Entertainment VCT 1 raised £10m tax year 2007/08   -8.59% 31.10% 37.94% 31 March 2009 91.50 100 04 April 2008 91.50     Triple Point TP70 2008 (II) raised £23m 2007/08   -9.88% 15.95% 19.51% 31 July 2009 84.56 100 01 March 2008 86.31   Triple Point TP70 2008 (I) raised £23m 2007/08   -10.46% 17.05% 20.68% 30 June 2009 86.32 100 01 March 2008 86.32     Generalist VCTs launched in tax year 2008/09 (Initial Income Tax Relief 30%, minimum five year holding period, CGT could not be deferred)       (VCTs listed alphabetically as period since launch is too short to show meaningful performance.) Fund Name Net Asset Value Date Net Asset Value Start Price Start Date Total Return (Net Asset Value plus dividends) View Dividends View Buybacks Baronsmead VCT 2 ord shares 2008/09 £8.7m raised at 75.5p   31 August 2009 88.54 76 04 April 2009 88.54     Baronsmead VCT 3 ord shares 2008/09 top-up raised £1.5m at 103.5p per share   31 May 2009 103.60 104 04 April 2009 103.60     Baronsmead VCT 4 ord shares 2008/09 top-upraised £593,000 at 95p per share)   31 August 2009 91.33 95 04 April 2009 94.33   Baronsmead VCT ord shares 2008/09 raised £8.7m at 75.5p per share   31 May 2009 72.59 76 04 April 2009 72.59     Elderstreet VCT top-up tax year 2008/09 raised £1.48m at 74.7p per share   30 June 2009 70.20 75 04 April 2009 71.20   Foresight 2 VCT C share 2008/09 fund raising £2.2m top-up at 108p per share   30 June 2009 103.80 108 04 April 2009 106.80   Foresight 2 VCT ord share 2008/09 fund raising of £1.4m in Linked Offer at 87p per share   30 June 2009 79.20 87 05 April 2009 81.20   Foresight 3 VCT £1.4m raised in Linked Offer between October 2008 and May 2009 at 98p per share, July 2009 each share converted into 0.9115 share   30 June 2009 84.95 98 05 April 2009 84.95     Foresight 3 VCT C share £1.6m top-up at 55p per share in tax year 2008/09 & 2009/10- existing investors will be entitled to an additional 1% allocation of shares       55 04 April 2009 0.00     Foresight 4 VCT £1.4m raised in Linked Offer between October 2008 and May 2009 at 103p per share   31 August 2009 100.30 103 05 April 2009 100.30     Foresight VCT £1.4m raised in Linked Offer between October 2008 and May 2009 at 42p-47p per share   30 June 2009 39.20 42 05 April 2009 39.20     Matrix Income & Growth 2 VCT C shares (was Matrix Venture Fund VCT, raised £6.5m in tax year 2008/09 at 92.39p per share)   30 April 2009 86.02 92 04 April 2009 86.02     Northern Venture Trust ord share 2008/09 £1.1m ord share top-up at 73p   30 September 2009 74.50 73 04 April 2009 74.50     Octopus Titan VCT 3 raised £19m in tax year 2008/09   31 July 2009