Octopus AIM VCT 2 PLC - venture capital trust investing in AIM-traded companies - Total return in six months that ended May 31 is negative 8.8%, compared to negative 20% a year earlier and negative 28% in all of financial 2022. Net asset value per share falls by 24% to 53.9 pence on May 31 from 70.5p a year before and by 13% from 61.6p on November 30. Cuts interim dividend by 14% to 1.8p from 2.1p.

The recent six months have been ‘a frustrating period for smaller company investors’, the investment manager comments. ‘Good growth companies trading robustly have seen their share prices and ratings fall as investors have shied away from taking risks.’ Looking ahead: ‘The balance of the portfolio towards profitable companies remains, and the investment manager is confident that there will continue to be sufficient opportunities to invest our funds in good companies seeking more growth capital at attractive valuations which we expect will result in improved future returns.’

The VCT holds 85 companies, down from 92 a year before.

Current stock price: last traded at 50.35p

12-month change: down 23%

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