Artemis Hits £40m Target for its Second VCT

Artemis Investment Management is delighted to have achieved its target of £40m for the Artemis AiM VCT 2 plc in less than six months.

The co-managers of the Aim VCT 2, Lindsay Whitelaw and John Dodd, also co-manage the Artemis AiM VCT which was launched in February 2001. The AiM VCT, with a market cap of £42.1m*, has grown by 15%* since launch whilst the FTSE AiM has fallen by 24%* over that period. Whitelaw and Dodd, both Citywire AAA-rated, also manage the Artemis New Enterprises and the UK Smaller Companies funds respectively.

Importantly, both Whitelaw and Dodd have proven track records of investing in AiM, OFEX, and unquoted companies, having actively invested in AiM since its inception in 1995. Lindsay Whitelaw has a respected venture capital background, having specialised in providing finance to companies whilst with 3i plc and Ivory and Sime plc. Consequently the managers have an extensive network of mainstream and specialist brokers and advisers in the AiM market. This improves the prospects for regular and quality deal flow, and in turn should enhance investors’ returns.

Nick Wells, Communications Head, said: "Smaller cap stocks are very much one of Artemis’ areas of expertise, with around £1bn of assets in AiM-listed and small-cap stocks. We are extremely pleased to close at the trust’s maximum."

"For experienced investors, VCTs are worthy considerations for a portfolio, both in terms of the assets that they cover and also the generous tax breaks that they enjoy."

Mark Tyndall, Chief Executive, Artemis Investment Management said, "In Lindsay and John we have two of the most highly regarded fund managers in small-cap and AiM listed stocks. Their venture capital experience combined with past performance leaves me in no doubt that the AiM VCT2 will outperform."

*Data as at 31 January 2005, source for the performance of the Trust is internal. The source for the FTSE Aim index is Lipper. All; figures show capital returns. Past performance is not a guide to future performance . Performance has been measured from February 2001 when the VCT launched.

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