News

Downing & Framlington VCTs

02 February 2012

Downing has been appointed as investment manager to Framlington VCTs

Downing appointed to Framlington AIM VCTs

Downing is pleased to announce that it has been appointed as investment manager to Framlington AIM VCT and Framlington AIM VCT 2. The Framlington VCT Boards invited a number of VCT investment managers to submit their proposals for taking over the management of the VCTs and decided to award the mandate to Downing. Downing's appointment is expected to be effective from 1 March 2012.

Downing will initially work closely with the Boards of the two VCTs to rebalance the portfolios between AIM and yielding unquoted assets in a similar way as it did in 2010 with the Downing Distribution VCTs (formerly known as the Pennine VCTs). In due course, Downing will consider the VCTs' share buyback polices, fundraising plans and other restructuring options in order to enhance shareholder value. Following Downing's appointment, Framlington AIM VCT plc will be renamed Downing Income VCT 4 plc and Framlington AIM VCT 2 plc will be renamed Downing Income VCT plc.

Announcements of the changes of manager can be found here: