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Amati News


New mandate endorses Amati's expertise in UK Smaller Company investment

Amati Global Investors ("Amati"), the newly formed investment management firm, has been appointed by the Board of the ViCTory VCT as the new fund manager. Amati, established in January this year by Dr Paul Jourdan and Douglas Lawson, currently manages the Noble AIM VCT and the CF Noble UK Smaller Companies Fund, which it acquired from Noble Fund Managers.

ViCTory VCT was originally established in 2001 as the Singer & Friedlander AIM 3 VCT. It was re-branded in June 2009 and currently has net assets of around £19m.

The Board of ViCTory VCT, which selected Amati following a competitive process, was particularly attracted to the strategy applied to the management of Noble AIM VCT and is looking to see a similar approach adopted to overall portfolio construction. This involves using the non-qualifying portion of the funds available to broaden and extend the range of the qualifying portfolio with a view to making a coherent portfolio of small and mid-sized companies.

In the case of Noble AIM VCT, the non-qualifying investments are currently directed towards overseas earnings streams, particularly in the Far East, and the energy and natural resources sectors which are rarely represented through qualifying investments. Amati will seek to re-align the qualifying portfolio in ViCTory VCT towards slightly larger companies. Noble AIM VCT has been one of the best performing AIM VCT to have floated in the 2004/2005 tax year, and has been innovative both in terms of its investment mandate and in looking after shareholders interests through discount management and share buybacks. Paul Jourdan CEO of Amati said: "We are thrilled to have been appointed to manage ViCTory VCT. Given the competitive nature of the selection process, this mandate strongly endorses the investment strategy we have applied to the Noble AIM VCT. This is an important and immensely positive step for Amati, and we are very much looking forwards to engaging with the portfolio."

Christopher Moorsom, chairman of ViCTory VCT added: "The Board looks forward to working with Amati and are hopeful that this change of direction for the management of ViCTory VCT will add value for shareholders over the coming years."