Interim Management Statement

RNS Number : 0598A

Aberdeen All Asia Inv Tst PLC

26 January 2011

 



Aberdeen All Asia Investment Trust PLC

Interim Management Statement

To the members of Aberdeen All Asia Investment Trust PLC (the 'Company'):

This Interim Management Statement ("IMS") has been produced solely to provide additional information to shareholders as a body to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied upon by any other party or for any other purpose.

This IMS relates to the period between 1 October 2010 and its date of publication and contains information that covers this period, unless otherwise specified.

Investment objective

To generate capital growth from a concentrated portfolio of companies domiciled, operating or generating revenue in the Asia Pacific region including Japan.

Benchmark

MSCI All Countries Index Asia Pacific (including Japan).

Material events

No shares were bought back by the Company between 1 October 2010 and the date of this IMS.

On 2 December 2010, the Company sent its Half-yearly Report for the six months to 30 September 2010 to shareholders.

The Company's existing £7m multi-currency facility with Standard Chartered Bank expired on 25 January 2011, and the Company has concluded an agreement with Standard Chartered Bank to increase this facility to £10m and to extend it by two years.

The Board is not aware of any other portfolio transactions or events which have occurred during the period which would have a material impact on the financial position of the Company.

For the latest Manager commentary please refer to the Factsheet published each month on the Company's website, www.all-asia.co.uk, where the most recent Net Asset Value ('NAV') of the Company and share price may also be found.

Ten largest equity holdings at 31 December 2010

	Country	%
Canon	Japan	3.7
Rio Tinto	Australia	3.5
Oversea-Chinese Banking Corp.	Singapore	3.3
Samsung Electronics	Korea	3.2
Swire Pacific 'B'	Hong Kong	3.1
Fanuc	Japan	3.0
Takeda Pharmaceutical	Japan	3.0
Jardine Strategic Holdings	Hong Kong	2.8
QBE Insurance	Australia	2.8
Standard Chartered	United Kingdom	2.8
		__________
Total		31.2
		__________
Total number of investments		56
		__________

Country allocation as at 31 December 2010

	Company	Regional Index
	%	%
Japan	22.1	39.5
Hong Kong	15.6	5.1
Singapore	14.3	3.1
India	10.7	5.0
Australia	9.5	15.7
Korea	5.6	8.7
China	4.0	10.9
Taiwan	3.8	7.2
Thailand	3.6	1.1
Malaysia	3.5	1.8
United Kingdom	2.8	0.0
Philippines	2.0	0.3
Indonesia	0.5	1.5
New Zealand	0.0	0.2
Cash	2.0	-
	__________	__________
Total	100.0	100.0
	__________	__________

General description of the Company's financial position and performance as at 31 December 2010

Gross Assets	£60.5m
Debt	£3.5m
Prior charges	Nil
Gearing#	106.1%

# Gearing expressed as a percentage of gross assets, including current year revenue, divided by shareholders' funds.

Cumulative performance (%)

	As at							Since AAM takeover (10/11/06)
	31/12/10	1 month	3 months	6 months	1 year	3 years	5 years
Share Price	314.5p	7.2	8.4	23.5	28.2	32.3	37.4	49.8
NAV #	364.0p	6.5	10.0	19.1	28.8	34.9	52.2	60.2
MSCI AC Asia Pacific (inc. Japan)		6.6	10.0	18.2	20.9	20.0	38.6	41.0

Discrete performance (%)

Year ending	31/12/10	31/12/09	31/12/08	31/12/07	31/12/06
Share Price	28.2	49.1	(30.8)	14.4	(9.2)
NAV #	28.8	39.7	(25.0)	15.4	(2.3)
MSCI AC Asia Pacific	20.9	22.7	(19.2)	12.7	2.5

# Excluding current year revenue.

Total return; NAV to NAV, net income reinvested, GBP.  Share price total return is on a mid-to-mid basis. Dividend calculations are to reinvest as at the ex-dividend date.

Source: Aberdeen Asset Managers, Factset and Morningstar.

Disclosure:

Since 10 November 2006, Aberdeen All Asia Investment Trust PLC has been managed by Aberdeen Asset Management ("AAM"). Historical performance (cumulative and discrete) are based on prices and net asset values under Gartmore Investment Limited to 9 November 2006; thereafter AAM.

Please note that past performance is not necessarily a guide to future performance. The value of shares may go down as well as up, and an investor may not get back the amount  invested.

For Aberdeen All Asia Investment Trust PLC

Aberdeen Asset Management PLC, Secretary

26 January 2011

 

END

 

 

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