Aberdeen Asian Income Fund Limited
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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 Income Fund Limited can be recommended by IFAs 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 the company would qualify as an investment trust if the company were based in the UK.

 

Pre-investment Disclosure Document (PIDD)

The Alternative Investment Fund Manager Directive (“AIFMD”) requires Aberdeen Private Wealth Management Limited, as a non-European Union manager of Aberdeen Asian Income Fund Limited, a Jersey-based fund, 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 investments products that do not fall under the existing European Union regime for regulation of certain investment products known as “UCITS”.

Read the PIDD for Aberdeen Asian Income Fund Limited

 
 

Morningstar Ratings

Analyst Rating

Silver Rating No logo

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 26-Nov-2014

Ord
Price204.25p
NAV199.87p
Prem/-Disc2.19%

Warrants
Price118.75p


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

 
 
 
 
 

Trust Details

Aberdeen Asian Income Fund Limited

Registered Office:
1st Floor,
Sir Walter Raleigh House
48 – 50 Esplanade
St Helier,
Jersey
JE2 3QB

Incorporated in Jersey with registered number 91671

 

Aberdeen Asian Income Fund Limited

Objective

The objective of Aberdeen Asian Income Fund Limited is to provide investors with a total return primarily through investing in Asian Pacific securities, including those with an above-average yield. The Company does not expect, at least initially, to have any significant Japanese exposure.

 
 

Aberdeen Asian Income Fund Limited Half-Year Report for the six months ended 30 June 2014
Flavia Cheong, Investment Director, Singapore

In this webcast, Flavia Cheong 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

October 2014

Market Review

Asia’s regional benchmark rebounded in October. While the Federal Reserve ended quantitative easing, the Bank of Japan and European Central Bank expanded stimulus to support growth. This lifted sentiment that had been depressed by poor economic data and growth forecast downgrades initially.

Portfolio Review

In October, we top-sliced China Mobile on relative strength. Proceeds were used to add to Standard Chartered, Indo Tambangrayah Mega and CNOOC on weakness. Standard Chartered’s shares weakened after the third profit warning in a year as the bank delivered its nine-month results. It blamed high impairment charges as some corporate and institutional clients were hurt by weakening commodity markets. Sentiment was also depressed by speculation that US regulators could re-investigate its alleged sanction violations. However, the company has a peerless focus on emerging markets, replete with banking licences and long-term customer relationships, something that cannot be easily replicated. It is an exciting franchise, though we would be unsurprised by a management change.

Singapore banks DBS, OCBC and UOB reported decent results, although loan growth moderated and non-performing loans edged higher amid the economic slowdown. Nevertheless, overall asset quality remained healthy China Mobile’s results were weighed down by the value-added tax and increased tariff subsidies. Encouragingly, 4G subscriber growth and data revenues continued to pick up. Meanwhile, the lower oil price hurt Keppel Corp’s shares. That said, the company’s offshore and marine segment posted resilient earnings backed by a robust order book. The weaker oil price hampered PetroChina’s profitability, but this was mitigated by higher gas prices.

Outlook

The divergence between major central banks’ monetary policies has become more pronounced, although how that translates into global capital flows is uncertain. In Asia, the slowdown in China remains a key concern and should continue to sway market sentiment. Weaker mainland demand has hurt major trading partners, and economic activity could slow further with Beijing trying to prevent runaway credit expansion. Ultimately, that should improve the quality of growth, even if it takes longer to achieve. Meanwhile, falling global oil prices has brought some reprieve to oil importing nations.


Source: Monthly Factsheet Aberdeen Asset Managers Limited