Interim Management Statement

RNS Number : 7527R

Aberdeen New Dawn Invest Trust PLC

27 August 2010

 



Aberdeen New Dawn Investment Trust PLC

Unaudited Interim Management Statement - 3 months to 31 July 2010

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 2010 to 31 July 2010, 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 25 August 2010, 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 adopting new Articles of Association of the Company. Mr Bradley retired as a Director of the Company with effect from the conclusion of the AGM.

The Company's final dividend of 10.0p per Ordinary share was approved by shareholders and will be paid on 27 August 2010.

Ten largest equity holdings at 31 July 2010

	%
Aberdeen Global-India Equity*	14.0
Jardine Strategic Holdings	4.5
Oversea-Chinese Banking Corp.	4.2
Samsung Electronics	3.9
Standard Chartered	3.8
Rio Tinto	3.6
Swire Pacific 'B'	3.2
United Overseas Bank	3.2
City Developments	3.1
Singapore Telecommunications	3.1
Total	46.6

Source: Aberdeen Asset Managers Limited

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

Country allocation as at 31 July 2010

Country	%
Hong Kong	21.4
Singapore	19.2
India	15.1
Australia	9.9
Korea	6.4
Thailand	5.1
China	4.5
Taiwan	4.1
Malaysia	3.3
Other Asia	3.0
Sri Lanka	3.0
Philippines	2.4
Indonesia	1.9
Pakistan	0.1
Cash	0.6
Total	100.0
Source: Aberdeen Asset Managers Limited

General description of Company's financial position and performance as at 31 July 2010

	£m
Gross Assets	204.3
Debt	10.6
Prior charges	NIL
Gearing*	5.5%

Source: Aberdeen Asset Managers Ltd

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

Cumulative performance (%)

	as at 31/07/10	1 month	3 months	6 months	1 year	3 years	5 years
Share Price	749.0p	4.1	3.5	19.0	34.6	50.3	93.4
NAV†	805.9p	2.5	0.9	17.8	34.6	42.2	107.9
MSCI AC Asia Pacific ex Japan		2.7	-5.5	9.2	22.9	20.7	87.5

Discrete performance (%)

	31/07/10	31/07/09	31/07/08	31/07/07	31/07/06
Share Price	34.6	15.6	-3.4	20.4	6.8
NAV†	24.6	11.3	-5.1	31.5	11.2
MSCI AC Asia Pacific ex Japan	22.9	7.7	-8.8	39.2	11.6

Total Return; NAV to NAV, net income Reinvested, GBP. Share price total return is on a mid-to-mid basis. NAV returns based on NAVs excluding income and with debt valued at par.

†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

27 August 2010

 

END

 

 

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