Aberdeen Asian Smaller Companies Investment Trust PLC
  (BST)
» Investment Trust Centre
» UK Home

Investor Warning

Please be aware of scams that can affect investors.

Read our investor warning

 

NMPI Status

The Company currently conducts its affairs so that securities issued by Aberdeen Asian Smaller Companies Investment Trust PLC can be recommended by financial advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream pooled investment products (NMPIs) and intends to continue to do so for the foreseeable future.

The Company’s securities are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are securities in an investment trust.

 

Pre-investment Disclosure Document (PIDD)

The Alternative Investment Fund Manager Directive (“AIFMD”) requires Aberdeen Fund Managers Limited, as the alternative investment fund manager of Aberdeen Asian Smaller Companies Investment Trust PLC, to make available to investors certain information prior to such investors’ investment in the Company.

The AIFMD is intended to offer increased protection to investors in investment products that do not fall under the existing European Union regime for regulation of investment products known as “UCITS”.

Read the PIDD for Aberdeen Asian Smaller Companies Investment Trust

 
 

Morningstar Ratings

Analyst Rating

Gold Rating

Fund Rating

5 Star Rating
 
 

Risk Warning

The value of investments and the income from them may go down as well as up and investors may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Please refer to the Key Facts documents contained in the ISA/Share Plan Brochure & Application form for general and specific investment risks attaching to the individual trusts.

Read the detailed Risk Warning
 

Past Performance

Past performance is not a guide to future results.
See latest monthly factsheet below for performance history.

 
 

Daily Data

At close 30-Oct-2014

Ord
Price969.50p
NAV981.16p
Prem/-Disc-1.19%
Net Dividend Yield1.03%

3.5% CULS 2019
Price116.50
NAV100.00
Prem/-Disc16.50%


Source: Morningstar, NAV = Net Asset Value, excluding income.

 
 
 
 
 

Trust Details

Aberdeen Asian Smaller Companies Investment Trust PLC

Registered Office:
Bow Bells House
One Bread Street
London
EC4M 9HH

Registered in England and Wales as an Investment Company Number 3106339

 

Aberdeen Asian Smaller Companies Investment Trust PLC

Objective

To maximise total return to Shareholders over the long term from a portfolio of smaller quoted companies (with a market capitalisation of up to approximately US$1 billion at time of investment) in the economies of Asia and Australasia, excluding Japan.

 
 

Aberdeen Asian Smaller Companies Investment Trust plc Half Year Report for the six months to 31 Jan 2014
Christopher Wong, Senior Investment Manager

In this webcast Christopher Wong gives an update on a wide range of subjects including performance, a sector breakdown, top twenty largest investments and an outlook for the Trust.

Click here to listen to the presentation

 

 

Manager's Monthly Report

September 2014

Market Review

Asian small-cap equities fell in September as signs of recovery in America fortified the US dollar and renewed expectations of a sooner-than-expected rate hike, which dimmed the appeal of regional assets. Disappointing economic news from China also hurt sentiment, as did protests in Hong Kong demanding more electoral freedom.

Portfolio Review

There were no major changes to the portfolio in September.

To improve liquidity, brewer Multi Bintang Indonesia will split its stock by 100 to 1, which will increase the amount of shares available for trading. Meanwhile, Indonesian regulators capped deposit rates for big domestic banks to rein in intense competition. This should, in turn, lead to lower lending rates and healthier credit growth. Standing to gain are mid-sized lenders such as Bank OCBC.

Results were generally encouraging. Notable beneficiaries of a better operating environment were Philippines’ Asian Terminals and Thailand’s Hana Microelectronics. In Hong Kong, Aeon Stores benefited from a turnaround in its China operations. Conversely, Giordano continued to struggle with sluggish sales, but its healthy balance sheet should help it withstand the headwinds in the Chinese retail sector.

Outlook

Looking ahead, the anticipated end to US quantitative easing in October and higher interest rates in 2015 could scare more capital out of the region. Chinese growth remains uncertain, with slower activity posing risks to the property sector, provincial government finances and corporate balance sheets. At the extreme, this could heighten social unrest. Nevertheless, Beijing’s coffers are deep and a closed capital account makes it less vulnerable to flighty foreign funds. In Hong Kong, the pro-democracy protests have disrupted business and risk becoming protracted if a compromise cannot be reached. In India and Indonesia, recent events have highlighted how factional politics can thwart the new governments’ reform agendas. On the plus side, these same governments have the people’s mandate, which over the long term should give them the confidence to carry out much needed restructuring. Policymakers are also more proactive than before, having taken steps to help buffer against potentially higher interest rates. At the corporate level, we observe efforts to boost margins through cost cuts and reorganisation, although this has yet to translate into a broader trend of improving profitability across the region.


Source: Monthly Factsheet Aberdeen Asset Managers Limited