Aberdeen 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 16 Sep 2021

Share Price 226.00p

Estimated NAV cum income 257.80p

Estimated NAV ex income 255.12p

Dividend Yield 4.0%

Premium / (Discount) to NAV cum income -12.3%

Premium / (Discount) to NAV ex income -11.4%

Latest news

An update from our investment manager, Yoojeong Oh - 25 August 2021

Despite renewed outbreaks of Covid-19, regulatory pressures, particularly in China, and niggling worries over inflation and rising rates, we see reasons to be optimistic about Asian equities. While regulatory risks persist, we believe that capitalism is not dead in China; the authorities would want to strike a good balance between promoting innovation and achieving its political goals. In particular, we prefer high-quality companies that have strong links to domestic consumption. Being in line with the strategic aims of Chinese authorities, the sector should be better positioned to withstand regulatory headwinds.

Meanwhile, US-China geopolitical tensions will continue to drive Beijing’s push for self-sufficiency, which in turn presents investment opportunities, whether in the domestic consumption sector, tech, or green energy. We continue to position our portfolio around structural growth themes such as these that will weather the near-term uncertainties.

Lastly, despite coronavirus-related disruptions, corporate earnings growth across Asia remains likely to rebound this year, led in particular by the robust tech hardware sector. Vaccination rates are now accelerating across the region and should gradually lead to easing restrictions and further economic reopening. This would help mitigate inflationary pressures tied to near-term supply chain bottlenecks. As stock-pickers, we remain focused on companies with pricing power and the ability to pass through cost pressures. We also maintain our preference for companies with robust balance sheets and healthy cash levels to underpin dividend payouts.

Key people

Yoojeong Oh

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

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

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

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

    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

    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

    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

    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

Charles Clarke

Chairman

Appointed a Director on 29 March 2012 and appointed Chairman on 16 May 2018, he is a Jersey resident 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

Ian Cadby

Non-Executive Director

Appointed a Director on 11 May 2016, 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

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. Mark is on the board 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.

Nicky McCabe

Nicky McCabe

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 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.

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 ASI. 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.

  • Charles Clarke

    Charles Clarke

    Chairman

    Appointed a Director on 29 March 2012 and appointed Chairman on 16 May 2018, he is a Jersey resident 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

    Ian Cadby

    Non-Executive Director

    Appointed a Director on 11 May 2016, 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

    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. Mark is on the board 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.

  • Nicky McCabe

    Nicky McCabe

    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 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.

  • 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 ASI. 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

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.