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Aberdeen ventures forth

Aberdeen Murray Johnstone Private Equity has introduced the Aberdeen growth opportunities venture capital trust.

This aims for long-term capital growth by investing mainly in unquoted smaller companies in the UK. It consists of around 30 holdings across a wide range of sectors.

The fund manager will focus on companies that are already established and are generating revenue but companies in an earlier stage of development will not be ruled out if it is felt they have good growth prospects and the management team is believed to be sound.

The money initially raised will be invested in a portfolio of Aberdeen&#39s Oeics. While the stockmarkets are uncertain, around 85 per cent will go into fixed interest and sterling bonds, with the remainder in cash.

At other times, it is likely this VCT would be popular with investors who have used their Isa allowance and are looking for a tax-efficient investment. However, in the current climate, investing in unquoted companies could be too much of a risk for many. But it could attract high-net-worth investors seeking an alternative.

According to Standard & Poor&#39s, the Aberdeen development capital VCT is ranked fifth out of 35 trusts based on £1,000 invested on a mid-to-mid basis with net income reinvested over one year to September 24, 2001.

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