Interim Management Statement

RNS Number : 3000M

Aberdeen New Dawn Invest Trust PLC

22 August 2013

 



Aberdeen New Dawn Investment Trust PLC

Unaudited Interim Management Statement - 3 months to 31 July 2013

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 2013 to 31 July 2013, 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 21 August 2013, 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), to amend the articles and sub-divide each of the Ordinary shares of 25p into five Ordinary shares of 5p.  This is expected to occur on the close of business on 2 September 2013.

The Company's final dividend of 12.0p per Ordinary share was approved by shareholders and will be paid on 23 August 2013.

Ten largest equity holdings at 31 July 2013

	Country	%
Aberdeen Global-Indian Equity*	India	10.2
Samsung Electronics Pref	Korea	4.7
Oversea-Chinese Banking Corp.	Singapore	4.5
Jardine Strategic	Hong Kong	4.3
QBE Insurance	Australia	3.7
HSBC	Hong Kong	3.6
Taiwan Semiconductor	Taiwan	3.4
Ayala Land	Philippines	3.3
Rio Tinto	Australia	3.2
BHP Billiton	Australia	3.1
Total		44.0

Source: Aberdeen Asset Managers Limited

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

Country allocation as at 31 July 2013

Country	%	Index %
Hong Kong	21.2	9.6
Singapore	19.9	5.2
Australia	11.7	25.1
India	11.2	6.1
Korea	5.5	14.3
Taiwan	5.4	11.2
China	5.2	17.9
Thailand	4.3	2.6
United Kingdom	5.1	-
Philippines	3.3	1.0
Sri Lanka	2.8	--
Malaysia	2.4	3.7
Other Asia	--	--
Indonesia	1.1	2.8
New Zealand	-	0.4
Cash	0.9	-
Total	100.0	100.0

Source: Aberdeen Asset Managers Ltd

General description of Company's financial position and performance as at 31 July 2013

	£m
Gross Assets	271.8
Debt	21.3
Gearing*	8.4%

Source: Aberdeen Asset Managers Ltd

*Net gearing is expressed as a percentage of gross assets, which includes current year revenue, less cash/cash equivalents divided by shareholders' funds.

Cumulative performance (%)

	as at 31/07/13	1 month	3 months	6 months	1 year	3 years	5 years
Share Price	951.0p	5.5	-3.2	0.8	21.1	35.7	111.1
NAVA	1005.6p	1.2	-3.3	0.5	12.4	30.3	95.2
MSCI AC Asia Pacific ex Japan		2.2	-5.5	-1.9	11.4	22.3	61.8

Discrete Performance

Year to	31/07/2013	31/07/2012	31/07/2011	31/07/2010	31/07/2009
Share Price	21.1	-3.4	16.0	34.6	15.6
NAVA	12.4	0.3	15.6	34.8	11.2
MSCI AC Asia Pacific ex Japan	11.4	-5.2	15.7	22.9	7.7

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. NAV returns based on NAVs with debt valued at fair value.

^AIncluding current year revenue.

Source: Aberdeen Asset Managers Limited, Lipper and Morningstar

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

22 August 2013

 

END

 

 

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