Skip to main content
PRIVATE EQUITY
 

News Room

Aberdeen Growth VCT I results – a healthy position in volatile markets

The Board of Aberdeen Growth VCT I have announced the Company's results for the year ended 31 January 2008. This further consolidates the notable turnaround in performance, with increased NAV and yield, since the change of lead fund manager on this fund in 2004, with an increase of 22.2% in NAV total return over that period. Among the highlights are:

  • NAV total return relatively stable at 79.72p per share (pps) at year end, fractionally down 1.8% over the year.
  • Net Asset Value (NAV) at year end of 69.8pps.
  • Further repositioning of the portfolio during the year towards later stage, yielding assets.
  • Strong level of new investment activity; 10 new unlisted investments and 15 new AIM/PLUS investments completed during the reporting period.
  • Successful exits from unlisted companies during the year plus receipt of deferred consideration generated a gain of 1.9pps.
  • Net realised gains from AIM/PLUS stocks of 2.9pps for the year.
  • Further dividends proposed of 2.0pps bring total for year to 4.0pps.
  • The 4.0pps means shareholders will have received 11.92pps in tax-free dividends since the Company's launch.
  • Net dividend of 4.0pps is equivalent to a yield of 5.3% to a higher-rate taxpayer from an equity investment; if the initial tax relief of 20% is taken into account, the effective annual yield rises to 6.7%.

S Share issue

The Company successfully raised £5 million in the S Share issue, increasing the size of the overall capital base by approximately 60% without a corresponding increase in costs, thereby improving the efficiency of the Company.

Supporting Information:

  • Highly diversified generalist VCT, with multi-asset private equity and AIM portfolios.
  • Access to around 900 investment opportunities per annum – supporting the Manager's strategy of finding suitable private equity transactions which offer growth and a healthy running yield, in tandem with an actively managed AIM business.

Get Adobe readerOur downloads are formatted as PDF documents. In order to view these links please make sure you have Adobe Acrobat Reader installed on your computer.