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Income & Growth VCT NAV up 6.2%

By BFN News | 09:29 AM | Friday 23 May, 2014


Income & Growth VCT's NAV total return per share was 6.2% (2013: 8.6%) for the six months to 31 March while the total share price return was 4.5% (2013: 7.2%). Cumulative NAV total return per share has risen to 161.5 pence compared to 154.4 pence at the year-end. This represents a further increase of 4.6% over the period and an increase of 70.5% since the merger of the VCT's share classes in March 2010. Chairman Colin Hook said: "We have seen clear signs of improvement in the outlook for the UK economy since the year-end. Some business surveys reveal a cautious optimism in the corporate sector and the Office for Budget Responsibility and the CBI are currently forecasting growth of 2.7% and 3.0% respectively, for 2014. "Against this more optimistic tone, other commentators are concerned about how solid such a recovery will be in the medium term, while others argue that interest rates should be raised sooner rather than later to prevent parts of the economy from overheating. Whilst conscious of the possibility of shocks to the economic revival now under way, the board and the adviser believe that, on balance, this recovery will be sustainable with inflation remaining low and interest rates beginning to increase only slowly from the end of this year." At 9:29am: (LON:IGV) Income Growth Vct Plc the share price was 0p at 100p Story provided by StockMarketWire.com

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