Aberdeen New Dawn 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 New Dawn 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 New Dawn 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 New Dawn 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 20-Nov-2014

Net Dividend Yield1.98%

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


Trust Details

Aberdeen New Dawn Investment Trust PLC

Registered Office:
Bow Bells House,
1 Bread Street,

Registered in England and Wales as an Investment Company Number 2377879


Aberdeen New Dawn Investment Trust PLC


To provide shareholders with a high level of capital growth through equity investment in the Asia Pacific countries excluding Japan. In addition, it is the Investment policy of the Company to invest in no more than 15 per cent of its gross assets in other listed investment companies (including listed investment trusts).


Aberdeen New Dawn Investment Trust PLC Annual Report for year ended 30 April 2014
James Thom, Senior Investment Manager

In this webcast James Thom gives an update on a wide range of subjects including performance, a sector breakdown, the twenty largest investments and an outlook for the Trust.

Click here to listen to the presentation.



Manager's Monthly Report

September 2014

Market Review

Asian equities fell in September as signs of recovery in America fortified the US dollar and renewed expectations of a sooner-than-expected rate hike, which dimmed the appeal of regional assets. Disappointing economic news from China also hurt sentiment, as did protests in Hong Kong demanding more electoral freedom.

Portfolio Review

In September, we participated in the rights issue of OCBC as it came at an attractive 25% discount and will help shore up the lender’s balance sheet after its acquisition of Wing Hang Bank. Against this, we took partial profits from ASM Pacific Technology on price strength.

In portfolio-related news, HSBC agreed to pay a US$550 million fine to US regulators for mortgage-backed securities that Fannie Mae and Freddie Mac purchased between 2005 and 2007, when the bank was under the previous leadership. We believe that the current management has taken steps to prevent similar occurrences.

PTT Exploration and Production plans to acquire a 20% stake in an offshore oil block in Brazil. The risks should be acceptable, given that the project is in the middle stages of exploration.

BHP Billiton is considering a secondary listing in London for its non-core assets due to the level of investor interest. It is encouraging that management is listening to shareholders and moving quickly to address their concerns.

Meanwhile, Chinese e-commerce group Alibaba made a solid debut in what was the world’s largest IPO ever. We had meetings with the company but decided not to invest in it due to concerns over its corporate structure and management’s control over the board.


Looking ahead, the anticipated end to US quantitative easing in October and higher interest rates in 2015 could scare more capital out of the region. Chinese growth remains uncertain, with slower activity posing risks to the property sector, provincial government finances and corporate balance sheets. At the extreme, this could heighten social unrest. Nevertheless, Beijing’s coffers are deep and a closed capital account makes it less vulnerable to flighty foreign funds. In Hong Kong, the pro-democracy protests have disrupted business and risk becoming protracted if a compromise cannot be reached. In India and Indonesia, recent events have highlighted how factional politics can thwart the new governments’ reform agendas. On the plus side, these same governments have the people’s mandate, which over the long term should give them the confidence to carry out much needed restructuring. Policymakers are also more proactive than before, having taken steps to help buffer against potentially higher interest rates. At the corporate level, we observe efforts to boost margins through cost cuts and reorganisation, although this has yet to translate into a broader trend of improving profitability across the region.

Source: Monthly Factsheet Aberdeen Asset Managers Limited