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American Capital, Ltd. Message Board

  • yando1946 yando1946 Mar 24, 2006 10:50 AM Flag

    ACAS CEO's response to critics

    You can click on hyper link or just read from news below what the CEO has to say about critics:

    http://www.forbes.com/free_forbes/2006/0410/018.html?partner=yahoomag

    Fad-Free Investing
    In "Buyout Bubble" (Mar. 13) you mention American Capital as being among various outfits "happy to take your money," implying we take advantage of average Americans as part of "an investment fad." As a business-development company we deploy capital provided by public shareholders to make long-term, private investments in promising middle-market businesses to help fund their growth. Any investor can purchase shares of American Capital with a small initial investment and enjoy the liquidity, transparency and independent governance associated with a public company. This does not add up to a fad.

    Your story further states that American Capital "pays out 2% of its assets annually in management fees." In fact, we are an internally managed fund and pay no one a management fee. All fees that are charged to portfolio companies as a result of financings benefit our shareholders, unlike at most private equity firms, where a significant proportion of such fees is pocketed by the managing general partner.

    Finally, American Capital's five-year total annualized return to shareholders is 19%, assuming reinvestment of dividends, beating the S&P 500, which had a less than 1% annualized return over the same period, including reinvestment of dividends. American Capital has outperformed 90% of all public companies with $1 billion or more in market capitalization over the eight and a half years that we've been public.

    MALON WILKUS
    Chief Executive
    American Capital Strategies (nasdaq: ACAS - news - people )
    Bethesda, Md.

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    • This is the part I really like !

      <Finally, American Capital's five-year total annualized return to shareholders is 19%, assuming reinvestment of dividends, beating the S&P 500, which had a less than 1% annualized return over the same period, including reinvestment of dividends. American Capital has outperformed 90% of all public companies with $1 billion or more in market capitalization over the eight and a half years that we've been public.
      >

 
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