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129: Why the bear view of AIM is overdone | Oliver Bedford of Hargreave Hale AIM VCT

24 Feb 2026 / Podcast Tax Advantaged

By Dr Brian Moretta

You don’t need to look too hard to find negative views about the AIM market, but is it overdone? Oliver Bedford, Lead Manager of the Hargreave Hale AIM VCT, certainly thinks so and, in this episode, we give him a chance to make his case.

Amongst other topics, we talk about:

  • The challenges AIM has gone through;
  • How undervalued AIM is;
  • Why Britain is not broken;
  • Listing in London versus elsewhere;
  • The impact of private equity;
  • Why IPOs are not a good goal in themselves;
  • Why it’s the companies not the macro picture that will change;
  • How the valuation gap doesn’t need to fully close to outperform;
  • The recent changes to VCT rules.

Oliver has thought about the issues deeply and that shows in the considered perspective that he brings. Enjoy!

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Links

Read more on the Hargreave Hale AIM VCT website.

Suggested book

The Undoing Project by Michael Lewis

Hillbilly Elegy by J.D. Vance

Bio

Oliver Bedford BSc MCSI, Lead Manager of Hargreave Hale AIM VCT, graduated from Durham University with a degree in chemistry. He served in the British Army for nine years before joining the Investment Manager in 2004. After initially working as an analyst in support of the VCT, Oliver was appointed as co-manager in 2011 and then lead manager in 2019.

Disclaimer

Please note this podcast/interview does not constitute a financial promotion and is provided for informational purposes and should not be construed as an invitation or offer to buy or sell any investments. Please be aware that investments into unquoted companies are high risk, long term and illiquid investments.  Your capital is at risk. Past performance is not a reliable indicator of future performance.  Target returns are not guaranteed and forward looking statements are illustrative only and must not be relied upon. Investors should only invest on the basis of reading the full offer documentation. Listeners must make their own independent decisions and obtain their own independent advice regarding any information, projects, securities, tax treatment or financial instruments mentioned herein.