Aberdeen Asian Income Fund Limited

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

Morningstar sustainability rating:

Daily prices as of {{asOfDate}}

Annual General Meeting (AGM) and Online Shareholder Presentation

The Board has been monitoring closely the ongoing impact of the Covid-19 pandemic upon the arrangements for the Company's upcoming AGM on 12 May 2021. It is very difficult to predict the extent to which regulations limiting public gatherings will be relaxed in the near future and travel will be permitted again. Therefore, in order to provide certainty, whilst encouraging and promoting interaction and engagement with our shareholders, the Board has decided to hold an interactive Online Shareholder Presentation which will be held at 10.30 a.m. on Tuesday 27 April 2021.

At the presentation, shareholders will receive updates from the Chairman and Investment Manager and there will be the opportunity for an interactive question and answer session. The online presentation is being held ahead of the AGM to allow shareholders to submit their proxy votes prior to the AGM and I would encourage all shareholders to lodge their votes in advance in this manner.

Read the annual results announcement

Latest news

An update from our investment manager, Yoojeong Oh - 19 March 2021

Inflation is emerging as a cause for concern on the back of improving economic prospects, reflected in rising bond yields. If yields rise much more quickly than justified by economic recovery, financial conditions may tighten and pose challenges to both policymakers and corporates. In Asia, positive trends in the results season thus far point to a rebound in corporate earnings this year. In addition, both governments and central banks have continued to provide further support for economies. All this underpin the recovery story, as well as Asian stock valuations which remain reasonably attractive compared to developed markets, such as the US.

We think that in an environment of rising inflation and input costs, companies with stronger balance sheets and pricing power, such as those that we own, should perform better as they will likely be able to support dividend payout as well as pass costs through to their customers and protect margins. We remain watchful of macroeconomic developments and their potential impact on the portfolio, and continue to monitor the earnings and guidance from our holdings across the region. While we track market developments closely, we adopt a long-term investment perspective. We believe many of the changes sparked by the pandemic are here to stay, including faster adoption of cloud computing, e-commerce and 5G networks. In addition, Asia’s burgeoning middle class will fuel rising demand for healthcare services and wealth management, while the region’s urbanisation and infrastructure needs remain vast. We remain focused on quality Asian companies that will benefit from a recovery and are best-placed to capitalise on these structural growth opportunities. Their robust balance sheets and healthy cash levels underpin their ability to pay dividends to shareholders. Hence, we will stay disciplined in putting capital to work on our best ideas that will generate sustainable returns and income
over the long run.

Read our latest article: Income investors need to broaden their horizons

The year ahead for Asia

Read the Company's latest Regulatory News Service (RNS) announcements

Key literature

Latest Factsheet

Annual Report

Interim Report

Savings Plan/ISA Brochure

Latest Edison Research Note

Read all literature

Key people

Yoojeong Oh

Investment Director

Yoojeong Oh is an Investment Director on the Asian Equities Team at Aberdeen Standard Investments. Yoojeong joined Aberdeen 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

Investment Manager

Christina Woon is an Investment Manager on the Asian Equities Team at Aberdeen Standard Investments. Christina joined Aberdeen Asset Management 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

Head of Equities - Asia Pacific

Flavia Cheong is the Head of Asia Pacific Equities on the Asian Equities team at Aberdeen Standard Investments, where, as well as sharing responsibility for company research, she oversees regional portfolio construction. Before joining Aberdeen Asset Management 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

Chairman of Asia Pacific

Hugh Young is the Chairman for Aberdeen Standard Investments 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 Singapore-based ASI Asia in 1992 as the regional headquarters. 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

Investment Director
Yoojeong Oh is an Investment Director on the Asian Equities Team at Aberdeen Standard Investments. Yoojeong joined Aberdeen 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

Investment Manager
Christina Woon is an Investment Manager on the Asian Equities Team at Aberdeen Standard Investments. Christina joined Aberdeen Asset Management 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

Head of Equities - Asia Pacific
Flavia Cheong is the Head of Asia Pacific Equities on the Asian Equities team at Aberdeen Standard Investments, where, as well as sharing responsibility for company research, she oversees regional portfolio construction. Before joining Aberdeen Asset Management 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

Chairman of Asia Pacific
Hugh Young is the Chairman for Aberdeen Standard Investments 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 Singapore-based ASI Asia in 1992 as the regional headquarters. 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.

Charles Clarke

Chairman

Charles was appointed to the Board on 29 March 2012. He is a Jersey residentially-qualified graduate chartered accountant and former senior partner of KPMG in the Channel Islands who has previously worked for KPMG in Kuala Lumpur. Charles has a portfolio of independent NED appointments and runs an offshore corporate governance consultancy.

Ian Cadby

Non-Executive Director

Ian was appointed to the Board on 11 May 2016. He is a Jersey residentially-qualified 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 Florance

Audit Committee Chairman

Mark was appointed to the Board on 10 May 2017. He is a Singapore Permanent Resident with over 25 years' experience in corporate finance advisory, mergers and acquisitions, equity capital markets, debt capital markets and debt restructuring in Asia at Arthur Andersen and NM Rothschild & Sons Limited. He is on the board of Butterfield (Singapore) Pte Limited and is an independent member of the investment committee of renewable energy fund, Climate Investor One and water fund, Climate Investor Two.

Nicky McCabe

Non-Executive Director

Nicky was appointed to the Board 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 Fidelity Special Values Investment Trust PLC, Bristol University, Artemis Investment Management Limited, Vitality Life Insurance and the charity Tomorrow's People.

Krystyna Nowak

Senior Independent Director

Krystyna was appointed to the Board on 7 May 2015. She is a partner at Ridgeway Partners and former Managing Director of the Board Practice at Norman Broadbent. She studied at Oxford University, before joining Citibank, originally in London followed by nine years in Hong Kong and Singapore.

Hugh Young

Non-Executive Director

Hugh was appointed to the Board on 11 November 2005. He is a resident of Singapore and is ASI's managing director of the Asia Pacific Region and responsible for all the Standard Life Aberdeen Group's operations in Asia. He is also a director of Aberdeen New Dawn Investment Trust PLC, Aberdeen Australia Equity Fund Inc., Aberdeen Asia-Pacific Income Investment Company Limited, Aberdeen Standard Asia Focus PLC (Alternate) and The India Fund Inc.

Charles Clarke

Chairman
Charles was appointed to the Board on 29 March 2012. He is a Jersey residentially-qualified graduate chartered accountant and former senior partner of KPMG in the Channel Islands who has previously worked for KPMG in Kuala Lumpur. Charles has a portfolio of independent NED appointments and runs an offshore corporate governance consultancy.
Ian Cadby

Non-Executive Director
Ian was appointed to the Board on 11 May 2016. He is a Jersey residentially-qualified 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 Florance

Audit Committee Chairman
Mark was appointed to the Board on 10 May 2017. He is a Singapore Permanent Resident with over 25 years' experience in corporate finance advisory, mergers and acquisitions, equity capital markets, debt capital markets and debt restructuring in Asia at Arthur Andersen and NM Rothschild & Sons Limited. He is on the board of Butterfield (Singapore) Pte Limited and is an independent member of the investment committee of renewable energy fund, Climate Investor One and water fund, Climate Investor Two.
Nicky McCabe

Non-Executive Director
Nicky was appointed to the Board 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 Fidelity Special Values Investment Trust PLC, Bristol University, Artemis Investment Management Limited, Vitality Life Insurance and the charity Tomorrow's People.
Krystyna Nowak

Senior Independent Director
Krystyna was appointed to the Board on 7 May 2015. She is a partner at Ridgeway Partners and former Managing Director of the Board Practice at Norman Broadbent. She studied at Oxford University, before joining Citibank, originally in London followed by nine years in Hong Kong and Singapore.
Hugh Young

Non-Executive Director
Hugh was appointed to the Board on 11 November 2005. He is a resident of Singapore and is ASI's managing director of the Asia Pacific Region and responsible for all the Standard Life Aberdeen Group's operations in Asia. He is also a director of Aberdeen New Dawn Investment Trust PLC, Aberdeen Australia Equity Fund Inc., Aberdeen Asia-Pacific Income Investment Company Limited, Aberdeen Standard Asia Focus PLC (Alternate) 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

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

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.