Shore Capital reports mixed funds results

Shore Capital reported mixed results in some of its funds on Tuesday, updating the market on the performance of the funds managed by Shore Capital and group subsidiary Puma Investment Management to 31 May, other than those where monthly statistics are not available.

The AIM-traded firm said the Puma VCT VII fund had no return in May, a 0.1% return in the January to May period, a total return of 32.1% since inception, and an internal rate of return of 8.9% per annum.

It said the Puma VCT 8 fund’s return in May was 0.1%, though it made a loss of 1.3% in the five months to the end of May, a total return of 34.2% and an internal rate of return of 11.5% pa.

The Puma VCT 9 and Puma VCT 10 funds both made losses of 0.1% in May, and losses over the five month period of 1.6% and 1.7% respectively.

Total returns on the two funds since inception were in turn 33.6% and 30.4%, with the internal rate of return 14.4% and 18.6% pa.

“Total funds under management as at 31 May 2016 were £850m, equivalent at that date to $1,250m,” Shore Capital’s board said in a statement.