13 Nov 2017 11:54
London, UK, 13 November 2017
Edison issues review on Aberdeen New Thai Investment Trust (ANW)
Aberdeen New Thai Investment Trust (ANW) is the only London-listed investment trust focused on Thailand. Launched in 1989, the managers have a long history of investing in the country, as well as the resources to support its bottom-up focus on identifying quality stocks to build a concentrated, yet diversified portfolio to generate long-term capital growth. This approach has delivered solid absolute performance with lower than market beta over three and five years. Thailand's economic recovery is proving stronger than expected, with scope to become more broad-based, which could support investment opportunities. The fund is currently trading at a wider than average discount to cum-income NAV of 16.6% and the board is committed to narrow this discount.
ANW currently trades on a discount to cum-income NAV of 16.4%, wider than its ten year average of 15.3%. The dividend yield of 1.9% is high amongst peers, reflecting strong revenue income from its underlying, cash-generative investments. Meanwhile, the board is committed to narrowing the company's discount to NAV and has been actively promoting ANW and conducting share repurchases.
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