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abrdn Asian Income Fund Ltd - closed-end fund concentrated on Asian equities - Net asset value per share ends first half at 240.04 pence, sliding from 262.76p six months earlier and down from 257.62p at the same point a year prior.
NAV total return in six months to June 30 negative 6.9%, while MSCI AC Asia Pacific ex Japan Index returns negative 5.8% and MSCI AC Asia Pacific ex Japan High Dividend Yield Index gains 1.8%.
Blames underperformance on rebound in the Chinese market in June where its investment manager has maintained an underweight position.
"The first half of 2022 was another unsettling period for stock markets, following an eventful Covid-dominated 2021," Chair Ian Cadby says. "This short-term weakness is disappointing after last year's robust performance, but longer-term results remain encouraging."
Notes it remains on for 9.75p target dividend per share for 2022. Has already declared two quarterly dividends of 2.3p each.
Current stock price: 216.60 pence
12-month change: down 5.8%
By Paul McGowan; paulmcgowan@alliancenews.com
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