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 27-Aug-2015

Ord
Price748.50p
NAV805.69p
Prem/-Disc-7.10%
Net Dividend Yield1.74%

3.5% CULS 2019
Price110.00
NAV100.00
Prem/-Disc10.00%


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

Investor warning: Please be aware of scams that can affect investors. Read the full warning here.

 

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

July 2015

Market Review

Asian SmallCap equity markets continued to fall in July. China hogged the spotlight again as local equities declined sharply, despite upbeat GDP data and the government’s support measures. Other headwinds included ongoing jitters over Greece and falling commodity and energy prices. Market declines were exacerbated by a rout in regional currencies amid expectations of a Fed rate hike later this year.

Portfolio Review

In July, we topped up our holding in Kingmaker on price weakness given its attractive valuation. In earnings news, most Thai banks reported deteriorating asset quality during the second quarter. Our holding Tisco Financial’s profits rose marginally as higher provisions counterbalanced better net interest margin and non-interest income.

Indian IT support services company CMC faced margin pressure in its customer and IT enabled services divisions. Pharmaceutical firm Sanofi India, on the other hand, reported a solid quarter. Castrol India benefited from lower base oil prices, although it is still waiting for a pickup in infrastructural spending.

Outlook

Despite the blitz of supportive measures from Beijing, the decline in Chinese markets has raised questions over the efficacy of these measures as a sustainable long-term solution. How markets will perform remains uncertain, but a further correction would not be surprising, given that economic activity is expected to be subdued. Indeed, the mainland’s muted growth outlook continues to be a major concern that is likely to weigh on Asian markets in the medium term. Nevertheless, regional economies are still growing at rates not seen elsewhere in the developed world. Governments here have many options at hand, including monetary and fiscal measures, to prop up their economies should the need arise. Infrastructure spending should also offer impetus for growth, provided projects do not get derailed by political bickering. The key is to invest in companies with management who possess the financial nous to weather the current slowdown and reap the rewards of Asia’s robust fundamentals over the long term. The region is not trading at prohibitive valuations, and remains attractive relative to developed market peers.


Source: Monthly Factsheet Aberdeen Asset Managers Limited