Aberdeen New Dawn (ABD) has provided peer-group-beating performance during 2019 (an NAV total return of 18.4% versus a peer group average of 15.2%). Despite this, and also despite offering one of the lowest ongoing charges ratios amongst its peers, its discount to NAV remains broadly unchanged and is still, peculiarly, one of the widest in the Asia Pacific sector (ABD is trading on a discount of 10.6% versus a sector average of 7.9%)… Read more
The manager has shifted its approach to investing in China, giving it greater flexibility to allocate more to direct Chinese stocks, and the trust has benefitted strongly, as China’s domestic ‘A share’ market has performed well during the last 12 months. Assuming that the manager continues to provide an attractive level of performance, relative to competitors, ABD’s discount could narrow towards the peer group average, and possibly beyond, thereby providing an additional source of return for investors who are patient.
Capital growth from Asia Pacific ex Japan
ABD aims to provide shareholders with a high level of capital growth through equity investment in the Asia Pacific countries, excluding Japan. ABD holds a diversified portfolio of securities in quoted companies spread across a range of industries and economies. ABD is benchmarked against the MSCI All Countries Asia Pacific ex Japan Index (in sterling terms).
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