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 27-Apr-2015

Ord
Price198.50p
NAV217.36p
Prem/-Disc-8.68%
Net Dividend Yield1.81%


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 New Dawn Investment Trust PLC

Registered Office:
Bow Bells House,
1 Bread Street,
London
EC4M 9HH

Registered in England and Wales as an Investment Company Number 2377879

 

Aberdeen New Dawn Investment Trust PLC

Objective

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 Half Year Report for the six months ended 31 October 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

March 2015

Market Review

Key Asian stock markets diverged in March. China and Hong Kong rose after Beijing indicated it was open to further stimulus. Conversely, Australia lagged, while India was hampered by weaker business sentiment and Middle East tensions.

Portfolio Review

In earnings news, Jardine Strategic met expectations as good results from both its property and smaller units offset weakness in its retail and Indonesian businesses. Swire Pacific’s profits were driven by its property division. In comparison, earnings at PetroChina’s exploration and production segment fell on cheaper crude. Encouragingly, losses in the chemicals segment narrowed.

Standard Chartered’s profits weakened amid further write-downs, margin pressure and increased regulatory costs. The bank will continue to trim costs, beef up its capital base and target a 10% return on equity in the medium term. Unprofitable businesses will also be axed. We feel BHP Billiton’s proposal to spin off South32 could help unlock value and allow the miner to focus on its core businesses. About a third of BHP’s current operations will be injected into the new entity, while the miner is expected to save about US$100 million a year in costs.

In portfolio activity, we introduced two holdings. China Resources Enterprise is a multiformat retailer in China and Hong Kong. It partnered global brewer SABMiller to form a joint venture that is a leader in the beer segment. While the current environment in China is challenging, we are encouraged by the company’s robust operating cash flow and solid balance sheet. MTR is a Hong Kong rail operator with expanding businesses in the region, particularly in China. We like its healthy operating cash flow and unique rail-and-property model that allows it to be among the largest land owners in Hong Kong.

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