Net Asset Value(s)

RNS Number : 0015V

Aberdeen Diversified I&G Trust PLC

03 April 2019

 

Aberdeen Asset Management PLC announces the unaudited net asset values (NAVs) of Aberdeen Diversified Income and Growth Trust plc as at close of business on 2 April 2019.  Unless otherwise disclosed, the NAVs have been calculated in accordance with the recommendations of the Association of Investment Companies.  In particular: (1) financial assets have been valued on a fair value basis using bid prices, or, if more appropriate, a last trade basis; (2) debt is valued at par and, where applicable, debt is also separately valued at market value (3) diluted NAVs are disclosed where applicable (for this purpose, treasury shares are excluded for the purposes of calculation); and (4) provisions for performance fees are included where applicable.

Aberdeen Diversified Income and Growth Trust Undiluted *	Excluding Income	123.48p	Ordinary
Aberdeen Diversified Income and Growth Trust Undiluted *	Including Income	125.42p	Ordinary
Aberdeen Diversified Income and Growth Trust with Debt at Fair Value *	Excluding Income	116.67p	Ordinary
Aberdeen Diversified Income and Growth Trust with Debt at Fair Value *	Including Income	118.62p	Ordinary

*       With effect from 31 March 2019 and in accordance with its accounting policies and UK Accounting Standard FRS 102, the Company has recognised a deferred tax asset of £2,457,000 arising as a result of the likelihood that excess management expenses of £6,800,000 will be utilised in the following accounting periods.

This deferred tax asset has been recognised as the Company has reasonable expectations of generating taxable income in future periods in excess of deductible expenses in respect of that period. The rationale for recognition now is based upon specific factors, notably that the Company has progressively utilised losses on a year-by-year basis. The Board is of the opinion that following the change of investment objective and policy in 2017 and the increased diversification of asset classes within the Company's portfolio there is now reasonable certainty that future profits will include taxable elements that will enable offset of thus far unutilised management expenses.

 

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