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Baronsmead Second Venture ( (GB:BMD) ) just unveiled an update.
Baronsmead Second Venture Trust reported a modest 1.2% increase in net asset value per share to 55.81p for the year to 30 September 2025, driven by a 7.1% gain in its unquoted portfolio that more than offset weakness in AIM-listed holdings. Over the period, the trust generated a NAV total return of 342.3p for every 100p invested at launch, delivered an annual tax-free dividend yield of 7.3%, invested £10.3mn in six new and fourteen follow-on deals, and realised £13.0mn of proceeds with a £2.1mn gain, taking total net assets to £221.2mn. The board reaffirmed its policy of targeting dividends broadly equal to 7% of opening NAV, with two payouts a year, while noting that no performance fees were paid and any future performance fees are capped at 5% of NAV, amid ongoing scrutiny of fees and performance in the wider VCT sector. Management highlighted continued macro headwinds for smaller UK companies compared with larger-cap peers, but said it is maintaining a disciplined, private equity-style approach and active oversight of portfolio businesses to support future performance and preserve the trust’s long-term value proposition for retail investors.
More about Baronsmead Second Venture
Baronsmead Second Venture Trust plc is a UK-listed venture capital trust focused on providing private investors with tax-efficient exposure to a diversified portfolio of UK growth businesses, both unquoted and traded on AIM. Managed by Gresham House Asset Management, the trust targets sectors with structural growth, backing companies with potential market leadership and scalable, profitable business models, and typically co-invests alongside other Gresham House-managed VCTs to build meaningful stakes and exert strategic influence. Its investments span ordinary and preference shares, loan stocks and other qualifying instruments, with strict adherence to VCT regulations, a cap on single-investment concentration, and a policy of using private equity-style active management to drive long-term value and support eventual exits through trade sales or listings.
Average Trading Volume: 306,904
Technical Sentiment Signal: Buy
Learn more about BMD stock on TipRanks’ Stock Analysis page.