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 WarningPast Performance
Past performance is no guide to future performance.
See latest monthly factsheet below for performance history.
Daily Data
At close 21-Feb-2012
Ord| Price | 669.50p |
| NAV | 681.74p |
| Prem/-Disc | -1.80% |
| Net Dividend Yield | 1.42% |
Source: Morningstar
NAV = Net Asset Value
Literature
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
The investment objective of the Company is 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$750m at time of investment) in the economies of Asia and Australasia, excluding Japan.
Manager's Monthly Report
February 2012
Market Review
Asian stock markets rallied in January, buoyed by speculation that China may loosen monetary policy and the US Federal Reserve’s pledge to hold interest rates at a low until 2014. Asian small caps tracked their large cap counterparts higher.
Although China’s fourth-quarter GDP expanded at its slowest pace in two and a half years, it exceeded market forecasts, whereas Korea’s marginal expansion failed to meet market expectations.
The IMF downgraded global growth prospects, even as India lowered its official growth forecast.
Portfolio Review
There were no major portfolio changes during the month. In portfolio-related news, LPI Capital’s earnings for 2011 improved because of higher premiums; the Malaysian insurer announced an interim dividend of 50 sen per share. Meanwhile, Aberdeen, along with other key shareholders, voted against re-electing Ng Ser Miang as chairman of WBL. We feel shareholder returns were less than optimal.
Outlook
Looking ahead, it is uncertain if the bright start to 2012 is sustainable. Short-term jitters remain, particularly in Europe, where a lasting solution to the sovereign debt crisis is still elusive. Meanwhile, the recovery of the global economy is tenuous. Adding to these worries is the political tension in the Gulf, which could trigger a spike in the oil price if supplies are disrupted. In the longer term, however, Asia’s prospects are still upbeat. Policymakers, backed by ample reserves and receding inflation, will be better positioned to support their economies through expansionary fiscal as well as monetary policies.
Source: Monthly Factsheet Aberdeen Asset Managers Limited
Awards
- Aberdeen Asian Smaller Companies Investment Trust PLC won the Association of Investment Companies award for Best Factsheet, 2011