Interim Management Statement

RNS Number : 0369N

Aberdeen New Dawn Invest Trust PLC

25 August 2011

 



Aberdeen New Dawn Investment Trust PLC

Unaudited Interim Management Statement - 3 months to 31 July 2011

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 2011 to 31 July 2011, 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 24 August 2011, 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) and to buy back shares (up to 14.99% of the issued share capital), and increasing the limit on Directors' fees as set out in the Company's Articles of Association from £150,000 to £200,000.

The Company's final dividend of 12.50p per Ordinary share was approved by shareholders and will be paid on 26 August 2011.

Ten largest equity holdings at 31 July 2011

	%
Aberdeen Global-India EquityA	13.5
Jardine Strategic	4.6
Oversea-Chinese Banking Corp.	4.6
Rio Tinto	4.2
Samsung Electronics Pref	3.6
Swire Pacific 'B'	3.3
United Overseas Bank	3.2
Taiwan Semiconductor	3.2
Standard CharteredB	3.2
Singapore Telecommunications	3.1
Total	46.5

Source: Aberdeen Asset Managers Limited

^A excluded for the purposes of calculating the investment management fee.

^B UK listed.

Country allocation as at 31 July 2011

Country	%
Hong Kong	20.0
Singapore	18.2
India	14.7
Australia	10.9
Korea	6.2
Thailand	5.3
Taiwan	4.9
China	4.3
United Kingdom	4.2
Sri Lanka	2.8
Malaysia	2.5
Other Asia	2.5
Philippines	2.0
Indonesia	1.1
Pakistan	0.1
Cash	0.3
Total	100.0

Source: Aberdeen Asset Managers Ltd

General description of Company's financial position and performance as at 31 July 2011

	£m
Gross Assets	244.9
Debt	11.5
Prior charges	NIL
GearingC	4.9%

Source: Aberdeen Asset Managers Ltd

^C Gearing is expressed as a percentage of gross assets, which includes current year revenue, divided by shareholders' funds.

Cumulative performance (%)

	as at 31/07/11	1 month	3 months	6 months	1 year	3 years	5 years
Share Price	857.3p	-0.8	-2.4	-3.5	16.0	80.5	109.9
NAVD	919.1p	-0.3	0.2	0.9	15.4	72.9	116.0
MSCI AC Asia Pacific ex Japan		-1.8	-2.3	1.2	15.7	53.1	94.4

Discrete performance (%)

	31/07/11	31/07/10	31/07/09	31/07/08	31/07/07
Share Price	16.0	34.6	15.6	-3.4	20.4
NAVD	15.4	34.6	11.3	-5.1	31.5
MSCI AC Asia Pacific ex Japan	15.7	22.9	7.7	-8.8	39.2

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.

^D Excluding current year revenue.

Source: Aberdeen Asset Managers Limited, Factset 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

25 August 2011

 

END

 

 

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