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What are zero dividend preference shares (ZDPs or zeros)?

Zero dividend preference shares (ZDPs or zeros for short) offer capital growth with a predetermined redemption value, paid from the assets of the trust at wind-up. Zeros are the first class of share to be paid out when the trust is wound up. However, any loans will need to be repaid first, so returns still rely on the performance of the trust's investments and your capital is at risk.

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