On 9 August 2025, the Authorised Fund Manager (AFM) of VT Gravis Funds ICVC, VT Gravis Real Assets ICVC, VT Gravis Clean Energy Income Fund, VT Gravis Digital Infrastructure Income Fund, VT Gravis UK Listed Property Feeder Fund, VT Gravis UK Listed Property (PAIF) Fund and VT Gravis UK Infrastructure Income Fund, will change from Valu-Trac Investment Management Limited (“Valu-Trac”) to Thesis Unit Trust Management Limited (“Thesis”).

Gravis Advisory Ltd ("Gravis") will continue to act as Investment Manager and there will be no change to the investment management of the Funds as a result of the changes. The annual management charge and ongoing charges figure in respect of each Fund will remain unchanged, with Gravis continuing to absorb any costs that would cause the Funds to have ongoing charges (excluding underlying collective investment undertaking holding charges) in excess of the annual management charge for each Fund.

Action required

No action is required, unless investors hold shares through the Valu-Trac ISA. If they hold shares through the Valu-Trac ISA, details of the action required, including how to transfer the plan to the Thesis ISA (which will be processed free of charge), can be found on the links at the bottom of this page.

Any existing mandates and direct debits for regular investments which investors have in place with Valu-Trac will also terminate. Thesis will contact investors separately with regards the establishment of revised mandates including new direct debit and regular investing instructions.

Fund names

As a result of the change of AFM, the Funds will also have slight change to their names as outlined below.

A link to the letter sent to registered investors in the VT Gravis UK Infrastructure Income, VT Gravis Clean Energy Income and VT Gravis Digital Infrastructure Income Funds is available here.

A link to the letter to registered investors in the VT Gravis UK Listed Property (PAIF) Fund can be found here, and the letter to unitholders of the VT Gravis UK Listed Property (Feeder) Fund can be found here.

Commenting on the change, Cameron Gardner, Head of Distribution, said: “We have enjoyed working with Valu-Trac over the last 9 years and wish the team all the best for the future. Following Gravis onboarding the Bloomberg AIM order management system and transitioning to investment manager for the VT Gravis Funds in late 2024, we conducted a review of our service providers. We regard the offering from Thesis Unit Trust Management Limited (TUTMAN) as AFM, together with Northern Trust’s Integrated Trading Solutions service ($1.6 trillion of assets under management), to be the optimum platform for our future growth. This will provide Gravis with improved trading and back-office capabilities, and alignment and integration of systems, whilst minimising operational risk.”

Important information

This article is issued by Gravis Advisory Limited (“GAL” or the “Firm”)), which is authorised and regulated by the Financial Conduct Authority. GAL’s registered office address is 24 Savile Row, London, United Kingdom, W1S 2ES. The company is registered in England and Wales under registration number 09910124.

VT Gravis Clean Energy Income, VT Gravis Digital Infrastructure Income and VT Gravis UK Infrastructure Income are sub-funds of VT Gravis Funds ICVC, which is a UK UCITS scheme and an umbrella company for the purposes of the OEIC Regulations.

VT Gravis UK Listed Property (PAIF) Fund is a sub-fund of VT Gravis Real Assets ICVC, which is a non-UCITS retail scheme and an umbrella company for the purposes of the OEIC Regulations. The Fund is a Property Authorised Investment Fund (“PAIF”).

Valu-Trac Investment Management Limited is the Authorised Corporate Director of VT Gravis Real Assets ICVC and VT Gravis Funds ICVC and GAL is the investment manager of the Funds.

Any decision to invest in a Fund must be based solely on the information contained in the Prospectus, the latest Key Investor Information Document and the latest annual or interim report and financial statements.

GAL does not offer investment advice and this article should not be considered a recommendation, invitation or inducement to invest in a Fund. Prospective investors are recommended to seek professional advice before making a decision to invest.

Your capital is at risk and you may not get back the full amount invested. Past performance is not a reliable indicator of future results. Prospective investors should consider the risks connected to an investment in a Fund, which include (but are not limited to) exchange rate risk, counterparty risk, inflation and interest rate risk and volatility. Please see the Risk Factors section in the Prospectus for further information.

This article has been prepared by GAL using all reasonable skill, care and diligence. It contains information and analysis that is believed to be accurate at the time of publication but is subject to change without notice. It is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. Any recipients outside the UK should inform themselves of and observe any applicable legal or regulatory requirements in their jurisdiction.