Caledonia announces private capital returns of -18%

The net asset value total return for the whole portfolio (including quoted equities and PE fund investments) is down from +10.9% on 31 March 2019, to -8.1%.

In the report, the firm said the majority of its portfolio companies continue to trade normally with a "low degree of disruption" from Covid-19. Buzz Bingo and Liberation Group leisure venues are currently closed, but the firm has seen good progress online from Buzz Bingo.

In 2019, the firm completed the acquisition of a minority holding in Stonehage Fleming, a provider of family office services, completed at a cost of £90m.

Net assets for the company dropped 10.7% from £2bn in 2019 to £1.787m in 2020.

Caledonia's private equity fund investments have seen strong underlying performance, according to the report, but have had a drop in full-year returns of 2.8% following a £86m Covid-19-related valuation adjustment.

Despite various negative metrics, the listed company will pay a dividend of 61.1p per share in August 2020, representing a 3% increase on the previous year.

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