How have VCTs performed over three, five and 10 years?
How have VCTs performed to date? It is a question many investors will be keen to have answered. But it can be difficult to get the overall picture.
To make it easier, we looked at the performance of the 10 largest VCT managers over a period of three, five and 10 years. Remember: past performance is not a guide to the future.
VCTs are high risk and illiquid. They are for experienced investors, who understand the risks and can afford to lose their investment.
The table below shows the cumulative performance for each VCT – calculated on a net asset value total return basis with dividends reinvested.
Important: The information on this website is for experienced investors. It is not advice nor a research or personal recommendation to invest. If you’re unsure, please seek advice.
Generalist VCTs’ performance – 10 largest managers
| VCT | 3 Years | 5 Years | 10 Years |
|---|---|---|---|
| Albion Crown VCT | 5.6% | 32.0% | 96.2% |
| Albion Enterprise VCT | 16.2% | 50.8% | 117.2% |
| Albion Technology & General VCT | 5.7% | 34.3% | 68.1% |
| Baronsmead Venture Trust | -1.5% | 9.0% | 29.0% |
| Baronsmead Second Venture Trust | -3.0% | 9.8% | 30.4% |
| British Smaller Companies VCT | 12.3% | 74.3% | 115.4% |
| British Smaller Companies VCT 2 | 12.2% | 68.6% | 93.6% |
| Foresight Enterprise VCT | 14.7% | 59.9% | 50.0% |
| Foresight Technology VCT | -5.8% | -6.7% | – |
| Foresight VCT | 30.9% | 94.2% | 102.6% |
| Foresight Ventures VCT | -22.0% | -10.4% | -23.6% |
| Gresham House Income & Growth VCT (formerly The Income & Growth VCT) | 3.0% | 56.3% | 109.2% |
| Gresham House Income & Growth 2 VCT (formerly Mobeus Income & Growth VCT) | 0.1% | 63.8% | 147.8% |
| Maven VCT | 3.2% | 16.4% | 40.5% |
| Maven VCT 3 | 0.1% | 19.6% | 25.9% |
| Maven VCT 4 | -1.5% | 16.7% | 23.0% |
| Maven VCT 5 | 2.8% | 23.7% | 48.2% |
| Northern Venture Trust | 10.1% | 46.5% | 79.3% |
| Northern 2 VCT | 9.8% | 47.7% | 77.6% |
| Northern 3 VCT | 8.8% | 43.4% | 74.1% |
| Octopus Apollo VCT | 17.6% | 62.0% | 68.8% |
| Octopus Future Generations VCT | -7.6% | – | – |
| Octopus Titan VCT | -36.0% | -24.0% | -5.4% |
| Pembroke VCT B Shares | -6.9% | 17.0% | 46.1% |
| ProVen VCT | 2.3% | 23.7% | 42.7% |
| ProVen Growth & Income VCT | -5.6% | 19.9% | 22.1% |
| Puma Alpha VCT | -24.3% | 3.3% | – |
| Puma VCT 13 | -6.1% | 41.3% | – |
| Average generalist VCTs | 1.3% | 33.1% | 61.6% |
AIM VCTs’ performance
| VCT | 3 Years | 5 Years | 10 Years |
|---|---|---|---|
| Hargreave Hale AIM VCT | -27.2% | -16.6% | -5.5% |
| Maven Renovar VCT (formerly Amati AIM VCT) | -27.3% | -20.2% | 41.4% |
| Octopus AIM VCT | -20.6% | -15.9% | -3.2% |
| Octopus AIM VCT 2 | -18.5% | -13.2% | 2.3% |
| Unicorn AIM VCT | -10.2% | 10.8% | 45.3% |
| Average AIM VCTs | -20.8% | -11.0% | 16.0% |
Source: Morningstar, Wealth Club. Data to 30 June 2025. Past performance is not a guide to the future.
See five-year discrete performance of the VCTs listed above
| VCT | Year to date | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Albion Crown VCT | 0.6% | 5.8% | 2.6% | -1.0% | 19.2% | 0.7% |
| Albion Enterprise VCT | 0.6% | 12.6% | 5.9% | -2.7% | 21.1% | 1.9% |
| Albion Technology & Gen VCT | 0.0% | 7.3% | 3.3% | -5.0% | 23.4% | -3.0% |
| Baronsmead Venture Trust | 1.1% | 1.2% | 0.2% | -16.1% | 14.2% | 5.0% |
| Baronsmead Second Venture Trust | 0.8% | 0.8% | -0.8% | -16.0% | 16.0% | 9.8% |
| British Smaller Companies VCT | -1.2% | 3.8% | 6.1% | 4.7% | 32.1% | 5.5% |
| British Smaller Companies VCT2 | -1.6% | 3.2% | 5.2% | 5.5% | 27.5% | 7.3% |
| Foresight VCT | 6.6% | 9.4% | 8.4% | 6.9% | 28.2% | 1.4% |
| Foresight Enterprise VCT | -1.3% | 7.2% | 6.4% | 4.7% | 18.8% | 0.5% |
| Foresight Technology VCT | -6.9% | -1.7% | -2.9% | 6.6% | -1.2% | – |
| Foresight Ventures VCT | 0.0% | -8.4% | -14.2% | -1.3% | 13.5% | -16.9% |
| Gresham House Income & Growth VCT | 0.6% | -0.3% | 6.9% | -16.1% | 43.6% | 23.0% |
| Gresham House Income & Growth 2 VCT | 4.7% | -0.1% | 7.0% | -21.3% | 50.9% | 17.5% |
| Maven Income & Growth VCT | -0.3% | 3.1% | -4.6% | 2.6% | 10.7% | 0.7% |
| Maven Income & Growth VCT 3 | -1.5% | 3.9% | -4.4% | -0.8% | 15.5% | 0.8% |
| Maven Income & Growth VCT 4 | -1.7% | 2.5% | -4.7% | -2.1% | 12.5% | 3.9% |
| Maven Income & Growth VCT 5 | 0.2% | 6.4% | -4.7% | 1.3% | 13.5% | 2.1% |
| Northern Venture Trust | -0.3% | 4.4% | 6.4% | -11.0% | 16.4% | 14.1% |
| Northern 2 VCT | -0.5% | 3.9% | 6.4% | -7.5% | 17.5% | 10.0% |
| Northern 3 VCT | -0.6% | 3.5% | 6.3% | -8.1% | 18.7% | 8.0% |
| Octopus Apollo VCT | 4.3% | -1.3% | 8.4% | 8.8% | 19.8% | 6.8% |
| Octopus Future Generations VCT | 0.0% | -5.2% | -1.5% | – | – | – |
| Octopus Titan VCT | 0.0% | -14.6% | -13.0% | -23.4% | 20.7% | 7.7% |
| Pembroke VCT | 0.4% | -0.9% | -7.4% | 0.4% | 19.8% | 3.7% |
| ProVen VCT | 1.4% | 1.2% | 3.7% | -6.9% | 12.7% | 2.4% |
| ProVen Growth & Income VCT | -0.5% | -1.6% | 3.5% | -8.8% | 20.2% | -1.0% |
| Puma VCT 13 | -2.0% | -2.6% | 0.3% | 14.1% | 16.4% | 23.3% |
| Puma Alpha VCT | -7.7% | -9.4% | -2.1% | 4.4% | 15.8% | – |
| Hargreave Hale AIM VCT | 0.9% | -5.3% | -16.0% | -32.8% | 16.1% | 26.6% |
| Maven Renovar VCT (formerly Amati AIM VCT) | 1.4% | -2.0% | -24.7% | -26.7% | 1.9% | 37.2% |
| Octopus AIM VCT | 0.0% | -2.6% | -12.4% | -31.9% | 8.5% | 23.4% |
| Octopus AIM VCT 2 | 0.9% | -1.9% | -12.1% | -31.3% | 8.8% | 24.2% |
| Unicorn AIM VCT | 4.4% | -5.2% | -3.3% | -26.6% | 20.4% | 22.5% |
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.
Alex Davies
Chief Executive
Alex was a board director at Hargreaves Lansdown, where he worked for 15 years. He was responsible for building Hargreaves Lansdown into the biggest direct-to-consumer SIPP provider in the UK with more than 150,000 clients and over £12 billion under management. He is a keen investor with a portfolio of shares, funds, student property, EIS and VCT investments.