Aberdeen Asian Smaller Companies Investment Trust PLC
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Investor Warning

Please be aware of scams that can affect investors.

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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 29-Jan-2015

Ord
Price922.00p
NAV985.77p
Prem/-Disc-6.47%
Net Dividend Yield1.41%

3.5% CULS 2019
Price115.00
NAV100.00
Prem/-Disc15.00%


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

 
 
 
 
 

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

December 2014

Market Review

Asian small-cap equities fell in sterling terms in December, hurt by the Russian rouble’s collapse amid the weaker oil price, which ignited fears of contagion emanating from emerging markets. Expectations of an imminent Federal Reserve rate hike and the stronger US dollar also weighed on sentiment. Malaysia, in particular, was depressed by the prospect of lower government revenues due to cheaper oil; severe flooding that displaced thousands; and the third tragic crash of a Malaysia-linked passenger jet in nine months. The ringgit was the region’s worst-performing currency.

Portfolio Review

In December, we took profits from Godrej Consumer Products and AEON Thana Sinsap on the back of relative share price strength.

In portfolio-related news, CDL Hospitality Trusts made its foray into the Japanese market by acquiring two business hotels in Tokyo for S$66 million. These purchases are yield accretive and will provide favourable exposure to the growth in visitor arrivals. Straits Trading made its first property acquisition in China, paying S$142 million for a retail mall in Chongqing.

Outlook

Asia faces a number of risks in 2015. Key among these is China’s slowing economy. While the potential for a credit crisis remains, we believe Beijing has the balance sheet strength to mitigate systemic risk in its financial markets. In India and Indonesia, the pace of reforms is encouraging, although failure to live up to expectations could exasperate investors. Stability has returned to Thailand after the coup but any slip-up by the military could re-ignite unrest. Meanwhile, for many Asian corporates, a more sustainable driver of growth is likely to come from a recovery in the broader global economy, given that they have expanding businesses abroad. This is particularly so for companies in Taiwan and Korea as they are export-oriented.

In the near term, the prospect of a US rate hike and a stronger dollar could compel fund outflows from Asia. But we think the normalisation of American monetary policy is a good thing as it weans markets off speculative capital. Furthermore, Asia is on a firmer footing today to withstand short-term outflows than back in late 2013, when it experienced the first tremors from tapering. In addition, we are likely to see greater monetary policy divergence. Unlike the US, some Asian economies may choose to cut rates to stimulate demand as inflationary pressures ease on the back of lower oil prices. While this is likely to be a volatile year on the macroeconomic front, we remain confident of the quality of our companies, characterised by prudent management, solid finances and good growth prospects. Notwithstanding higher household debt, Asia’s long-term story still holds, buttressed by rising wealth, young populations and pent-up demand for housing, consumer durables, transport and banking services.


Source: Monthly Factsheet Aberdeen Asset Managers Limited