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
 
 
Money Observer Awards 2015
 
 

Daily Data

At close 23-Apr-2015

Ord
Price888.00p
NAV1000.41p
Prem/-Disc-11.24%
Net Dividend Yield1.46%

3.5% CULS 2019
Price113.63
NAV100.00
Prem/-Disc13.63%


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

 
 
 

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.

 
 
 
 

Portfolio Holdings Disclaimer

Holdings are subject to change at any time. Holdings should not be relied upon in making investment decisions and should not be construed as research or investment advice regarding specific securities. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or in part.

 
 

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 Annual Report for the year ended 31 July 2014
Christopher Wong, Senior Investment Manager

In this webcast, Christopher Wong gives an update on a wide range of subjects including the Trust’s performance, the geographic and sectoral positioning of the portfolio for the Trust.

Click here to listen to the presentation

 

 

Manager's Monthly Report

March 2015

Market Review

The small-cap equities benchmark rose in sterling terms in March, but key Asian markets diverged. China and Hong Kong gained after Beijing indicated it was open to further stimulus. Conversely, India was hampered by weaker business sentiment and Middle East tensions.

Portfolio Review

There were no major portfolio changes in March.

Earnings news was largely mixed. Aeon Malaysia’s fourth-quarter results were hampered by the company’s investment into new stores, although the property management division benefited from the contributions of new malls. Fashion retailer Giordano’s full-year earnings declined, although profitability improved in the second half as sales recovered in most markets except Korea and the Middle East. The business continues to be cash generative and its balance sheet remains healthy. Cement maker Holcim Indonesia saw profits decline given operational delays, higher costs exacerbated by the weaker rupiah and a hike in royalty fees to its parent.

Elsewhere, Yoma Strategic received the first of two major approvals for the long-awaited lease extension of its Landmark Development in downtown Yangon.

Outlook

Familiar concerns remain. In China, the effects of the slowdown are reverberating through the corporate sector and deflationary threats are rising. Given Beijing’s anti-corruption crackdown and caution surrounding new infrastructure projects, growth is unlikely to pick up. However, the government’s initiative to better connect China to other countries along the Silk Road could help revive the economy. Reforms being rolled out across the region also offer some optimism, although implementation could be long drawn and fraught. Thus, short-term policy measures will likely dictate market direction. Meanwhile, we should see further divergence as central banks everywhere, including China, Japan and Europe, appear to be more accommodative, except in the US. Yet, the normalisation of Fed policy is based on the assumption of a sustainable US recovery, which should bode well for export-led economies in Asia. That said, the region still boasts some of the world’s fastest-growing countries, despite slower expansion. Policymakers have tried to fix structural weaknesses and the region seems better able to withstand short-term fund outflows. At the corporate level, there are few signs of an earnings recovery, but companies are making progress in cutting costs to operate more efficiently. We remain confident in the region’s prospects, given favourable demographics and the anticipated improvement in corporate profitability.


Source: Monthly Factsheet Aberdeen Asset Managers Limited