Edison issues review on Aberdeen Asian Income Fund

RNS Number : 3925J

Aberdeen Asian Income Fund Limited

16 August 2019

 

London, UK, 16 August 2019

Edison issues review on Aberdeen Asian Income Fund (AAIF)

Aberdeen Asian Income Fund (AAIF) aims to generate an above-average level of income and long-term capital growth, even in challenging times, from a diversified portfolio of Asia Pacific equities. Data from the fund's manager Aberdeen Standard Investments (ASI) Asia highlight the importance of income in the region; since 2000, c 50% of share price total returns have been from reinvested dividends and corporates are supportive of dividend growth. AAIF has generated double-digit NAV and share price total returns over the last decade and currently offers a 4.4% dividend yield. The dividend is well covered and the fund has c 0.9x the FY18 annual distribution in revenue reserves.

AAIF's current 9.0% share price discount to cum-income NAV compares with the average discounts of 8.8%, 8.0%, 6.5% and 2.2% respectively over the last one, three, five and 10 years. There is scope for the discount to narrow given the fund's performance track record and its two closest peers in the AIC Asia Pacific Income sector are consistently rated more highly. AAIF has increased its dividend for the last 10 consecutive years and currently yields 4.4%.

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