Aberdeen Development Capital Delivers Total Return of 38- Percent

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ABERDEEN Development Capital, the private equity fund majoring in small Scottish companies, has delivered a total return of more than 38- percent over the past six years, excluding the costs of its current reconstruction, the trust said yesterday.

The trust issued six-year zero dividend preference shares in 1999 and last month offered holders a rollover into new shares after paying out a 58.7- percent return. Realisations included the last slice of a pounds -9.1m book profit on its early-stage investment in FirstGroup, and totalled pounds -12m from investments which had originally cost pounds -6.7m.

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Aberdeen Development Capital Delivers Total Return of 38- Percent

The refinancing of the ZDP shares meant a subdued level of investmen...

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