Interim Management Statement

RNS Number : 2397C

Aberdeen New Dawn Invest Trust PLC

28 August 2008

 



Aberdeen New Dawn Investment Trust PLC

Unaudited Interim Management Statement - 3 months to 31 July 2008

To the members of Aberdeen New Dawn Investment Trust PLC

This unaudited interim management statement 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 interim management statement relates to the period from 1 May 2008 to 31 July 2008, and contains information that covers this period, and up to the date of publication of this interim management statement, unless otherwise specified.

Investment objective

To provide shareholders with a high level of capital growth through equity investment in the Asia Pacific countries excluding Japan.

Benchmark

MSCI AC Asia Pacific ex Japan (Sterling adjusted). This benchmark includes Australia and New Zealand.

Material events 

On 28 August 2008 the Company held its Annual General Meeting at which all resolutions were passed. The special business included resolutions to allow the Company to issue shares (up to 10% of the issued share capital without pre-emption); to buy back shares (up to 14.99% of the issued share capital); and, to adopt new Articles of Association.  

The Company's final dividend of 6.0p per Ordinary share was approved by shareholders and will be paid on 1 September 2008.

With effect from 28 August 2008 Mr Richard Clough has retired as a non executive Director of the Company.

For latest NAV and share price information please refer to the trust's website, www.newdawn-trust.co.uk.

Ten largest equity holdings at 31 July 2008

	%
Aberdeen Global-India Opportunities*	11.7
Oversea-Chinese Banking Corp	4.1
United Overseas Bank	3.9
Samsung Electronics Pref	3.7
QBE Insurance	3.6
Rio Tinto	3.6
Swire Pacific B	3.2
Jardine Strategic Holdings	3.2
Taiwan Semiconductor	2.9
Singapore Telecommunications	2.8
Aberdeen Global-India Opportunities*	11.7
Oversea-Chinese Banking Corp	4.1
United Overseas Bank	3.9
	______
Total	42.7
Total investments	52

*excluded for the purposes of calculating the investment management fee.

Country allocation as at 31 July 2008

Country	%
Singapore	24.3
Hong Kong	16.6
India	12.6
Korea	9.3
Australia	7.8
Taiwan	6.2
China	5.0
Thailand	4.2
Malaysia	3.6
Other Asia	2.9
Indonesia	2.4
Philippines	2.2
Sri Lanka	1.3
Pakistan	0.4
Cash	1.2
	_____
Total	100.0

General description of Company's financial position and performance as at 31 July 2008

	£m
Gross Assets	149.4
Debt	9.7
Prior charges	-
Gearing*	6.9

*Gearing is expressed as a percentage of gross assets divided by shareholders' funds

Cumulative performance (%)

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	31/07/2008
Share Price	494.0	1.1	-13.3	-3.8	-3.4	24.3	131.6
NAV	551.2	-1.6	-13.9	-7.4	-5.1	38.8	132.6
MSCI AC Asia Pacific ex Japan		-2.1	-14.2	-7.9	-8.8	41.7	119.8

Discrete performance (%)

	31/07/2008	31/07/2007	31/07/2006	31/07/2005	31/07/2004
Share Price	-3.4	20.4	6.8	62.6	14.6
NAV	-5.1	31.5	11.2	45.4	15.2
MSCI AC Asia Pacific ex Japan	-8.8	39.2	11.6	44.7	7.2

Total Return; NAV to NAV, Net Income Reinvested, GBP

Source: Aberdeen Asset Managers Limted, Factset, Financial Times and Fundamental Data

NAV returns based on NAVs excluding income and with debt valued at par

Please note that past performance is not necessarily a guide to the future and that the value of investments and the income from them may fall as well as rise. Investors may not get back the amount they originally invested.

For Aberdeen New Dawn Investment Trust PLC

Aberdeen Asset Management PLC, Secretary

28 August 2008

 

END

 

 

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