Aberdeen Asian Income Fund Limited
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Investor Warning

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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 02-Mar-2015

Ord
Price197.00p
NAV202.80p
Prem/-Disc-2.86%

Warrants
Price118.75p


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 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

January 2015

Market Review

A wave of monetary policy easing buoyed Asian stock markets in January, as central banks in India and Singapore as well as their counterparts in Europe, Turkey and Canada moved to boost economic growth. Paring gains was Switzerland’s decision to end its cap on the franc against the euro, which caused global risk aversion to spike, albeit briefly.

Portfolio Review

In January, we pared the positions in United Overseas Bank, Oversea-Chinese Banking Corp, Taiwan Semiconductor Manufacturing, POS Malaysia, China Mobile and DFCC Bank bonds. Proceeds were used to top up Yingde Gases bonds.

In portfolio-related news, Keppel made an offer to privatise its 55%-owned property subsidiary Keppel Land. We view the opportunistic move, at a time when valuations are depressed, as a bid to diversify from the relatively weak offshore and marine (O&M) sector. That said, the conglomerate, whose full-year results met expectations, continued to grow its O&M business with contract wins despite the sector’s challenging outlook. Additionally, the infrastructure division continued to be streamlined. We remain sanguine about the group’s prospects as it aims to bolster its three core businesses amid the tough operating backdrop. Standard Chartered will exit its underperforming cash equity, equity research and equity capital markets businesses, cutting about 200 jobs in Asia. It also closed its Swiss private banking business. We view these as logical steps in the lender’s plans to save US$400 million this year and better align its resources to its core strategy.

Outlook

Most signs point to a potentially looser policy environment in the medium term. Recent patchy US economic data could ease pressure on the Federal Reserve to hike interest rates by the first half of 2015. Murky outlooks for growth and inflation in both Europe and Japan could also precipitate more stimulus by the ECB and Bank of Japan, although we feel this would only soften the political will for crucial reforms. In China, authorities have reiterated their desire to pursue quality growth while maintaining an appropriate rate of expansion, an oblique reference to tougher times ahead, albeit cushioned by more targeted easing measures. Such rhetoric is likely to continue driving markets despite still-weak economic data. On the other hand, further shocks in the oil and currency markets could upend the uptrend. We are of the view, however, that lower oil prices are a good thing for Asia on the whole as it helps reduce costs for businesses and consumers alike, which should ultimately boost spending and induce investment. For now, earnings growth is likely to remain muted but companies with financial muscle and prudent management should be well placed to ride the region’s recovery over the long term.


Source: Monthly Factsheet Aberdeen Asset Managers Limited