Interim Management Statement

RNS Number : 4956B

Aberdeen New Dawn Invest Trust PLC

04 March 2014

 



Aberdeen New Dawn Investment Trust PLC

Unaudited Interim Management Statement - 3 months to 31 January 2014

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 November 2013 to 31 January 2014, 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

The Company announced its Half-Yearly Results on 17 December 2013, and the Half-Yearly Report was posted to shareholders at the end of December 2013.

The borrowings at the period end represented HKD154.1m (the equivalent of £12.1m) drawn in Hong Kong Dollars, USD8.68m (the equivalent of £5.3m) and GBP £2.5m (total GBP equivalent £19.9m). 

Ten largest equity holdings at 31 January 2014

	%
Aberdeen Global-Indian Equity Fund*	11.3
Samsung Electronics Pref	5.0
Jardine Strategic	4.2
Oversea-Chinese Banking Corp.	4.2
Rio Tinto	4.1
HSBC	3.6
BHP Billiton	3.5
Taiwan Semiconductor	3.4
United Overseas Bank	3.1
Ayala Land	3.0
Total	45.4

Source: Aberdeen Asset Managers Limited

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

Country allocation as at 31 January 2014

Country	%
Hong Kong	21.4
Singapore	19.7
India	12.4
Australia	11.7
Korea	6.1
United Kingdom	4.9
Taiwan	4.9
China	4.7
Thailand	4.1
Sri Lanka	3.0
Philippines	3.0
Malaysia	2.5
Indonesia	0.9
New Zealand	--
Cash	0.7
Total	100.0

Source: Aberdeen Asset Managers Limited

General description of Company's financial position and performance as at 31 January 2014

	£m
Gross Assets	237.7
Debt	19.9
Cash	2.3
Net gearing*	8.1%

Source: Aberdeen Asset Managers Limited

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

Cumulative performance (%)

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	31/01/2014
Share Price	153.3p	-5.4	-14.8	-18.9	-18.3	-8.4	113.2
NAVA	174.9p	-4.5	-11.6	-12.6	-12.1	0.2	120.1
MSCI AC Asia Pacific ex Japan		-4.3	-9.3	-5.8	-7.5	0.8	99.3

Discrete performance (%)

Year ending:	31/01/2014	31/01/2013	31/01/2012	31/01/2011	31/01/2010
Share Price	-18.3	26.8	-11.6	42.9	62.9
NAVA	-12.1	17.6	-3.1	34.8	63.0
MSCI AC Asia Pacific ex Japan	-7.5	13.7	-4.1	24.8	58.4

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 par.

^A Including 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

4 March 2014

 

END

 

 

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