Maven vct 6

[barchid]

Does anyone have a view on this vct ?
Having had a good experience in general with Maven vct's over the years I bought some vct 6 three years ago and have had minimal divis, a total of 2.25p in those three years and very little action on the nav.
I believe this was previously a somewhat failed vct but Maven managed it for a few years, I recall, before rebranding it vct 6.
Given the performance their 1,2,3&4 vct's have enjoyed this has really been a bit of a dog, you would've thought that by now it might be showing some promise, but there doesn't seem to be much !
I have vct's with a selection of managers, both generalist and aim, but this one sticks out like a sore thumb in the portfolio.

[james188]

I have a minimal stake in Maven 6 through a linked offer back in 2013 (when they were still being used). I agree that it has been an uninspiring investment and I expect that it will be merged with one of the other Maven offerings before too long. Although they have had some decent realisations over the last 12 months or so, I believe that there have been/are better offers available elsewhere this season.

[barchid]

James
I appreciate your thoughts, we can only hope it is merged so it can emerge from its kennel !

[Kidman]

Maven Income and Growth VCT 6 was set up in 2000 as First Ofex VCT but a few weeks later it became Talisman First Ofex VCT for two days before settling down to being Talisman First VCT from 2000 to 2013.
I have never held it but do remember posts about it some years ago as Maven tried to turn it round but suspect there was little cash for new investments and a difficulty selling new shares with its performance record. Certainly a candidate for merger but then must consider the merger costs in relation to total assets.

[UncleEbenezer]

From memory, Talisman was tiny: about £2million or something. So its fixed costs would tend to consume anything short of stellar underlying investment returns. If M6 is Talisman, then most of its current assets could be what it raised in the joint fundraising, making it almost a new VCT. So it's still early days for you. And I would not welcome a merger of M6 into any VCT I hold!

ISTR pre-M6 Maven had another troubled acquisition called Ortus. What happened to that?

[barchid]

Uncle & Kidman
You are both absolutely spot on, a predecessor of MIG 6 was Ortus, I have a feeling it had some connection then with Guinnes Flight, but from memory this was pre financial crisis in 2008/9 and it was previously involved in ofex stocks, that I do recall.
Having had Maven vct since before it became Maven I (stupidly) assumed it would be similar to MIG 1 when I bought some MIG 6 as a "new" vct in 2016, but of course it needed to invest the cash raised that year & I think the year after they also did a raise. It has certainly been a pretty barren 3 years of holding it, I guess I will re assess when my 5 years is up, although it is about the most illiquid of all Maven vct's in the aftermarket, often seems to be quoted in 500 only.
Still a serious lesson in what happens when one does not do the homework thoroughly before purchasing, I will not knowingly make that mistake again !
I appreciate the thoughts from fellow members on this, it has been very helpful to me.

[BusyBumbleBee]

Ortus was formed from the merger of Gateway and Guinness Flight in 2009.

Ortus then merged with Maven Income and Growth VCT 4 PLC ("MIG 4") in 2013.

See viewtopic.php?t=7962 for the cock up they made over the share listing. (Kidman you contributed to this topic)

Hope this is useful.

I know this because one of my less successful investments was Guinness Flight VCT which has lost 75% of its value since I bought it in 1996. There are a lot of others like this which is why I am so wary of the current crop of VCT offerings.

[barchid]

BBB
Excellent information as usual, I also held Mav 4 for 5 years (2010/15) thus my confusion with Ortus. This was a much more successful Maven venture which after good divis and 30% rebate encouraged me to reinvest into MAV 6, hence my lack of research, a stupid move which I am determined to avoid in future !
I take note of your scepticism of the current crop of offers as it does have that "fin de siecle" feel about it at the moment, which is often a pointer to the future. I really buy vct's to cover the sort of stocks I have no real knowledge of, micro companies & tech, so from that standpoint I continue to invest, but more cautiously. I do recall buying some in the secondary market at whopping discounts to nav after the tech boom went bust, if something similar happens again I wonder how long the discount management schemes currently in place will last ?

[barchid]

I see there is an RNS out this pm saying that Maven 6 is in merger talks with Maven 4, which sounds a sensible idea to me as 6 has never gained traction whilst 4 has had a fairly decent level of success and investment, whereas 6 is still showing cash levels at 59% on the last accounts.