Aberdeen Asian Smaller Companies Investment Trust PLC
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Investor Warning

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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 18-Aug-2014

Net Dividend Yield1.08%

3.5% CULS 2019

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

Registered in England and Wales as an Investment Company Number 3106339


Aberdeen Asian Smaller Companies Investment Trust PLC


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

June 2014

Market Review

Asian small-cap equities continued to benefit from the assurance of loose monetary policy in June, but gains were pared by still patchy economic data and escalating violence in Iraq. The Thai market did well after the nationwide curfew was lifted, while the military junta began approving stalled investment and infrastructure projects. Indonesia lagged as polls showed market-friendly presidential nominee Jokowi losing ground to his rival Prabowo ahead of the election.

Portfolio Review

There were no major changes to the portfolio in June. Earnings news was mixed. Both Sri Lankan conglomerates John Keells and Aitken Spence recorded healthy earnings growth, while China’s Green Dragon Gas saw significantly improved profitability. Conversely, AEON Malaysia’s net profits fell on continued expansion in capital expenditure, despite higher sales, while Guinness Anchor missed our forecast. In other corporate news, Pacific Basin is no longer putting the company’s harbour towage business up for sale. Yoma Strategic, the Singapore-listed Myanmar company will proceed with the purchase of the 10-acre landmark development site in Yangon. Yoma will fund this via a share placement.


Global growth prospects and central bank policy will remain key themes for quite some time. In the West and Japan, deflationary trends linger, with authorities likely to keep policy loose. In China, risks in the property sector persist, while further bond and wealth management product defaults cannot be ruled out as the government reins in shadow banking in pursuit of better-quality growth. Territorial disputes between China and its neighbours could also cloud the region’s outlook. Against this backdrop, a premature tightening of policy, particularly by the Fed, would unsettle markets, as will a bigger-than-expected slowdown in Chinese growth. We believe though that Beijing has deep enough pockets to prevent sectoral problems from infecting the wider economy. Despite the uncertainty, we remain upbeat about Asia’s prospects and believe good value can still be found on a long-term basis. Our strategy is unchanged, with a focus on fundamentally sound companies that have the ability to emerge stronger from the current cyclical slowdown.

Source: Monthly Factsheet Aberdeen Asset Managers Limited