Ruth Mitchell

‘Investment is out there’, says Fund Manager

According to a leading investor, businesses should not be disheartened by reports that lack of investment capital is disadvantaging locally based AIM-listed companies.

Barrie Hensby, chief executive at NEL Fund Managers issued this advice in the wake of the XCAP Securities report, which found that a lack of liquidity and difficulties in raising funds were the main problems affecting businesses of this size.

While it is undoubtedly difficult for many businesses to find funding, fund managers in the region are keen to reassure companies that it is possible for them to obtain financial support.

Mr Hensby also expressed his fear that many companies who are keen for their businesses to reach that next level could be wary of putting their plans into action in light of this news.

He was also keen to promote the Finance for Business Growth Fund, which NEL is responsible for. The £20million fund is available for regional businesses who are at the development and growth stages to help them expand operations and create new, sustainable employment opportunities. So fat the company has made 21 investments worth over £3million.

He said: “Whilst we are clearly working in a different market to the regions AIM listed companies, the concerns they’re expressing about access to funding and the impact this has on their capacity to realise their commercial ambitions resonates across every level of business.

“The Finance for Business North East Fund managers have a key role to play in facilitating the private sector led economic recovery that is slowly taking shape, and in helping individual companies achieve their ambitions, whether this is reaching AIM-listed status or simply creating a sustainable, successful company.”

NEL are currently dealing with a number of further applications at different stages of the investment process worth around £1.7 million, and continues to look for suitable clients to add to its investee portfolio.

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