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 WarningPast Performance
Past performance is no guide to future performance.
See latest monthly factsheet below for performance history.
Daily Data
At close 06-Feb-2012
Ord| Price | 178.38p |
| NAV | 172.24p |
| Prem/-Disc | 3.56% |
Warrants
| Price | 56.00p |
Source: Morningstar
NAV = Net Asset Value
Literature
Trust Details
Aberdeen Asian Income Fund Limited
Registered Office:
No.1 Seaton Place,
St Helier,
Jersey
JE4 8YJ
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.
Manager's Monthly Report
January 2012
Market Review
Asian equities posted modest gains in December but ended the year with double-digit losses. Eurozone debt worries and the possibility of further sovereign credit rating downgrades depressed sentiment but losses were mitigated by an injection of liquidity into Europe’s banking system and better-than-expected US economic data.
Regional economies showed further signs of slowing, with Indian industrial output contracting for the first time in more than two years. Chinese factory production and exports decelerated, while forward-looking manufacturing indicators pointed to slowdowns in Taiwan and Korea.
Moderating inflationary pressures allowed central banks to hold or ease policy rates. Australia and Thailand cut benchmark rates, while mortgage rates were loosened for first-time homebuyers in Beijing and Shanghai.
In politics, North Korean dictator KimJong-Il’s death caused uncertainty in regional markets. India had to backpedal after its attempt to open the retail sector faced a backlash, though it did ratify an earlier decision to open up its market to foreign single-brand retailers.
Portfolio Review
In portfolio activity, we introduced Singapore-headquartered conglomerate Keppel Corporation, which has a growing pipeline of business in its key offshore and marine division; and Westfield, a property trust that manages retail properties in Australia, the UK and the US. Conversely, we sold AIA on the strength of its share price.
In corporate news, DiGi.Com was allotted 20MHz of the 4G services spectrum which will be rolled out by 2013. Siam Cement will raise its stake in Thai Plastic & Chemical from 46% to 69% and acquire TPC’s remaining shares following the mandatory tender offer.
Outlook
Asian stock markets will continue to face more of the same external headwinds in the year ahead. Global growth is likely to slow in 2012. Europe appears headed for a recession under the weight of austerity measures, while the US is still deleveraging, despite the recent improvement in short-term economic data. Asia is unlikely to escape these external problems unscathed. Yet, Asia’s long-term prospects remain undiminished. This is because inflationary pressures appear to be ebbing, allowing central banks greater leeway in supporting growth. At the same time, governments in the region are in much better fiscal shape than those in developed countries, affording them the policy tools necessary to stimulate their flagging economies should the need arise.
Source: Monthly Factsheet Aberdeen Asset Managers Limited