Share Buyback Policy
for Puma VCTs
If your client has held their VCT shares for five years or more and is ready to sell, the Puma VCT Share Buyback Policy makes things easy.
A simple way to sell shares
If your client has held their VCT shares for five years or more and is ready to sell, they can request to sell their shares back to the VCT at a discount of 5% to the latest published NAV.
There is no need to engage with a third-party broker, avoiding the cost normally associated with selling VCT shares, nor do they need to speak to multiple third parties – just us.
We will assist with the process of dematerialising the physical share certificates where applicable, converting them into a digital format, and placing the sale order.
More information
We aim to provide the opportunity to sell shares twice a year, usually towards the end of January and July. Buybacks depend on regulations, market conditions, and the Company having sufficient funds and distributable cash reserves, and remain at the discretion of the Board.
Open for investment
Puma VCT 13
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Open for investment
Puma AIM VCT
Share buyback is currently unavailable
Open for investment
Puma Alpha VCT
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FAQs
Adviser and investor support
For adviser support and product insights, contact your Business Development Manager.
Our expert Client Relations team is here to assist you and your clients on 020 7096 8453.
Risk factors
Buybacks are subject to applicable regulations, market conditions at the time and the relevant VCT having both the necessary funds and distributable cash reserves available for the purpose. The making, timing and frequency of any share buybacks will remain at the absolute discretion of the Board.
It is highly unlikely there will be a liquid market in the Ordinary Shares of Puma VCTs, and it may prove difficult for investors to realise their investment immediately, in full or at all.
An investment in Puma VCTs carries risk and you should take your own independent advice. You should only invest in Puma VCTs on the basis of the prospectus which details the risks of the investment. Below are the key risks:
Tax reliefs: Tax reliefs are not guaranteed, depend on individuals’ personal circumstances and a five-year minimum holding period, and may be subject to change.
Liquidity: It is unlikely there will be a liquid market in the ordinary shares of Puma VCTs and it may prove difficult for investors to realise their investment immediately or in full.
Capital at risk: An investment in Puma VCTs involves a high degree of risk. Investors’ capital may be at risk.
General: Past performance of Puma Investments in relation to its other VCTs is no indication of future results. The payment of dividends is not guaranteed. Investors have no direct right of action against Puma Investments. The Financial Ombudsman Service/the Financial Services Compensation Scheme are not available.
Figures on this page are taken from Puma Investments and are correct as of 21 April 2026 unless stated otherwise.