abrdn Asian Income Fund Limited

Targeting the income and growth potential of Asia's most compelling and sustainable companies

Morningstar sustainability rating:   sustainability rating

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Daily prices as of 20 May 2022

Share Price 216.00p

Estimated NAV cum income 247.17p

Estimated NAV ex income 248.35p

Dividend Yield 4.4%

Premium / (Discount) to NAV cum income -12.6%

Premium / (Discount) to NAV ex income -13.0%

Source: Morningstar

About us

Find out more about our investment objective, approach, portfolio and performance.

Insights

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Latest news

An update from our investment manager, Yoojeong Oh - 29 April 2022

We expect continued volatility and uncertainty in capital markets until there is some resolution of the Russia-Ukraine crisis. When that stabilises, the markets will return to the other stress points for Asian equities. The pace of the US Fed’s policy rate increase and comments around the pace of monetary policy normalisation would have an impact on Asia. Although most of Asia is moving towards living with Covid-19, Omicron remains a key risk. China, meanwhile, is seeing renewed market volatility on the back of regulatory risks, particularly in the internet segment. Its exacting Covid-19 stance, and a slump in property demand, are also causing volatility. Given this uncertain outlook, and the expectations of tighter monetary policy and higher interest rates, quality companies with strong balance sheets, not reliant on debt financing, look well set. These companies have robust business franchises, with the ability to pass on inflationary cost pressures, and continue to generate positive cash flows from their operations. This is supportive of continued shareholder returns, including dividends, in 2022 and beyond. Hence, we think the Trust is well positioned, and we remain focused on putting capital to work in investment ideas that will generate sustainable returns and income over the long run.

 

Key people

Yoojeong Oh

Yoojeong Oh

Investment Director

Yoojeong Oh is an Investment Director on the Asian Equities Team at abrdn. Yoojeong joined the company in 2005 and was initially a member of the UK and European Equities Team in London before moving to Singapore.

Yoojeong graduated with an MEng in Engineering, Economics and Management from the University of Oxford and is a CFA® charterholder.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Christina Woon

Christina Woon

Investment Director

Christina Woon is an Investment Director on the Asian Equities Team at abrdn. Christina joined the company in January 2013 as a graduate. Christina holds a Bachelor of Accountancy from Singapore Management University. She is a CFA charterholder.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Flavia Cheong

Flavia Cheong

Head of Equities - Asia Pacific

Flavia Cheong is the Head of Asia Pacific Equities on the Asian Equities team at abrdn, where, as well as sharing responsibility for company research, she oversees regional portfolio construction. Before joining abrdn in 1996, she was an economist with the Investment Company of the People’s Republic of China, and earlier with the Development Bank of Singapore. Flavia graduated with a BA in Economics and an MA (Hons) in Economics from the University of Auckland. She is a CFA charterholder.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Hugh Young

Hugh Young

Chairman of Asia Pacific

Hugh Young is the Chairman for the abrdn business in Asia. He was previously the Head of Asia Pacific for Aberdeen Standard Investments, a main board director and Head of Investments for Aberdeen Asset Management (before its merger with Standard Life plc). Hugh joined the company in 1985 to manage Asian equities from London, having started his investment career in 1980. He founded the company's regional headquarters in Singapore in 1992. Hugh is a director of a number of group subsidiary companies and group-managed investment trusts and funds. Hugh graduated with a BA (Hons) in Politics from Exeter University.

  • Yoojeong Oh

    Yoojeong Oh

    Investment Director

    Yoojeong Oh is an Investment Director on the Asian Equities Team at abrdn. Yoojeong joined the company in 2005 and was initially a member of the UK and European Equities Team in London before moving to Singapore.

    Yoojeong graduated with an MEng in Engineering, Economics and Management from the University of Oxford and is a CFA® charterholder.

    CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

  • Christina Woon

    Christina Woon

    Investment Director

    Christina Woon is an Investment Director on the Asian Equities Team at abrdn. Christina joined the company in January 2013 as a graduate. Christina holds a Bachelor of Accountancy from Singapore Management University. She is a CFA charterholder.

    CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

  • Flavia Cheong

    Flavia Cheong

    Head of Equities - Asia Pacific

    Flavia Cheong is the Head of Asia Pacific Equities on the Asian Equities team at abrdn, where, as well as sharing responsibility for company research, she oversees regional portfolio construction. Before joining abrdn in 1996, she was an economist with the Investment Company of the People’s Republic of China, and earlier with the Development Bank of Singapore. Flavia graduated with a BA in Economics and an MA (Hons) in Economics from the University of Auckland. She is a CFA charterholder.

    CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

  • Hugh Young

    Hugh Young

    Chairman of Asia Pacific

    Hugh Young is the Chairman for the abrdn business in Asia. He was previously the Head of Asia Pacific for Aberdeen Standard Investments, a main board director and Head of Investments for Aberdeen Asset Management (before its merger with Standard Life plc). Hugh joined the company in 1985 to manage Asian equities from London, having started his investment career in 1980. He founded the company's regional headquarters in Singapore in 1992. Hugh is a director of a number of group subsidiary companies and group-managed investment trusts and funds. Hugh graduated with a BA (Hons) in Politics from Exeter University.

Ian Cadby

Ian Cadby

Independent Non-Executive Chairman

Appointed a Director on 11 May 2016 and Chairman on 1 January 2022, he is a Jersey resident board executive and investment manager with over 33 years' experience within the asset management and wealth management industry spanning a number of jurisdictions including Asia. Ian is the former Group CEO of Ermitage Ltd with extensive experience in derivatives trading, board strategy, corporate governance and risk management. Ian is also a director of CQS New City High Yield Fund Limited.

Mark Florence

Mark Florance

Independent Non-Executive Director and Audit Committee Chairman

Appointed a Director on 10 May 2017, he is a Singapore Permanent Resident with over 30 years' experience in corporate finance advisory, mergers and acquisitions, equity capital markets, debt capital markets and debt restructuring in Asia primarily at NM Rothschild & Sons where he was the vice-chairman for S.E. Asia and co-head of Asia. Mark is the chairman of Butterfield Trust (Asia) Limited and is an independent member of the investment committee of renewable energy fund, Climate Investor One and water fund, Climate Investor Two. He has a Bachelor of Commerce (accounting) and a Bachelor of Laws from the University of New South Wales. He also has a Diploma from the Securities Institute of Australia.

Rob Kirkby

Robert Kirkby

Independent Non-Executive Director

Appointed a Director on 1 November 2021, he is s a former advisory partner at KPMG Channel Islands and a fellow of the Institute of Chartered Accountants with a background as a business leader. He is a Jersey resident but has particular experience of, and a continued interest in, China and Hong Kong. Robert has a number of non-executive appointments including being Chair of Trustees of the Durrell Wildlife Conservation Trust, chairman of the audit committees of Digital Jersey Limited and Stonehage Fleming Family & Partners Limited and he is a director of VenCap Channel Islands Limited.

Nicky McCabe

Nicky McCabe

Independent Non-Executive Director

Appointed a Director on 16 May 2018, she was formerly head of product and investment trusts at Fidelity International with experience across the full spectrum of asset management in back office operations, the investment team, proprietary investment, distribution and product management. Nicky is currently a non-executive director of BMO Capital and Income Investment Trust PLC, Artemis Investment Management Limited and Vitality Life Insurance.

Krystyna Nowak

Krystyna Nowak

Senior Independent Non-Executive Director

Appointed a Director on 7 May 2015, she is a partner at Ridgeway Partners and former Managing Director of the Board Practice at Norman Broadbent. Krystyna studied at Oxford University, before joining Citibank, originally in London followed by nine years in Hong Kong and Singapore. Krystyna is also a director of Record PLC.

Hugh Young

Hugh Young

Non-Executive Director

Appointed a Director on 11 November 2005, he is a resident of Singapore and is Chairman Asia for abrdn. Hugh is also a director of Aberdeen New Dawn Investment Trust PLC, Aberdeen Australia Equity Fund Inc., Aberdeen Asia-Pacific Income Investment Company Limited and The India Fund Inc.

  • Ian Cadby

    Ian Cadby

    Independent Non-Executive Chairman

    Appointed a Director on 11 May 2016 and Chairman on 1 January 2022, he is a Jersey resident board executive and investment manager with over 33 years' experience within the asset management and wealth management industry spanning a number of jurisdictions including Asia. Ian is the former Group CEO of Ermitage Ltd with extensive experience in derivatives trading, board strategy, corporate governance and risk management. Ian is also a director of CQS New City High Yield Fund Limited.

  • Mark Florence

    Mark Florance

    Independent Non-Executive Director and Audit Committee Chairman

    Appointed a Director on 10 May 2017, he is a Singapore Permanent Resident with over 30 years' experience in corporate finance advisory, mergers and acquisitions, equity capital markets, debt capital markets and debt restructuring in Asia primarily at NM Rothschild & Sons where he was the vice-chairman for S.E. Asia and co-head of Asia. Mark is the chairman of Butterfield Trust (Asia) Limited and is an independent member of the investment committee of renewable energy fund, Climate Investor One and water fund, Climate Investor Two. He has a Bachelor of Commerce (accounting) and a Bachelor of Laws from the University of New South Wales. He also has a Diploma from the Securities Institute of Australia.

  • Rob Kirkby

    Robert Kirkby

    Independent Non-Executive Director

    Appointed a Director on 1 November 2021, he is s a former advisory partner at KPMG Channel Islands and a fellow of the Institute of Chartered Accountants with a background as a business leader. He is a Jersey resident but has particular experience of, and a continued interest in, China and Hong Kong. Robert has a number of non-executive appointments including being Chair of Trustees of the Durrell Wildlife Conservation Trust, chairman of the audit committees of Digital Jersey Limited and Stonehage Fleming Family & Partners Limited and he is a director of VenCap Channel Islands Limited.

  • Nicky McCabe

    Nicky McCabe

    Independent Non-Executive Director

    Appointed a Director on 16 May 2018, she was formerly head of product and investment trusts at Fidelity International with experience across the full spectrum of asset management in back office operations, the investment team, proprietary investment, distribution and product management. Nicky is currently a non-executive director of BMO Capital and Income Investment Trust PLC, Artemis Investment Management Limited and Vitality Life Insurance.

  • Krystyna Nowak

    Krystyna Nowak

    Senior Independent Non-Executive Director

    Appointed a Director on 7 May 2015, she is a partner at Ridgeway Partners and former Managing Director of the Board Practice at Norman Broadbent. Krystyna studied at Oxford University, before joining Citibank, originally in London followed by nine years in Hong Kong and Singapore. Krystyna is also a director of Record PLC.

  • Hugh Young

    Hugh Young

    Non-Executive Director

    Appointed a Director on 11 November 2005, he is a resident of Singapore and is Chairman Asia for abrdn. Hugh is also a director of Aberdeen New Dawn Investment Trust PLC, Aberdeen Australia Equity Fund Inc., Aberdeen Asia-Pacific Income Investment Company Limited and The India Fund Inc.

 

Financial calendar

Year End 31 December
Accounts Published April
Annual General Meeting May
Dividend Paid February, May, August, November

Trust details

abrdn 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

Launch Date: December 2005

Risk Warning
Risk warning
The value of investments and the income from them can go down as well as up and you may get back less than the amount invested. Please refer to the relevant Key Information Document (KID) prior to making an investment decision. Please be aware of scams that can affect investors.