The new Puma VCT 9 will run a similar investment strategy to, and be managed by the same team, as the previous Puma VCTs, seeking to preserve capital while producing regular, tax-free dividends to shareholders. Qualifying investments will be in established unquoted companies, primarily in the form of secured loans.

As with all Puma VCTs, which are limited life, planned exit vehicles, the directors can convene an extraordinary general meeting after the fifth anniversary of the fund for the shareholders to vote on entering into solvent liquidation. Puma believes this to be the most efficient route to return capital to shareholders and avoids them having to sell their shares on the secondary market.