Aberdeen Diversified Inc... Investors - ADIG

Aberdeen Diversified Inc... Investors - ADIG

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Aberdeen Diversified Income And Growth Trust Plc ADIG London Ordinary Share GB0001297562 ORD 25P
  Price Change Price Change % Stock Price Last Trade
0.50 0.53% 94.80 16:35:11
Open Price Low Price High Price Close Price Previous Close
94.20 94.20 95.20 94.80 94.30
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Top Investor Posts

wunderbar: I have a question for investors on this bb, particularly those of you holding ADIG in a standard shares account or ISA. I should start by saying I've bought this stock half a dozen times over the past five years (using same investment platform) and never paid a single penny in annual management fees, never paid any ongoing charges to Investment Manager, only costs incurred have been initial buying costs + stamp duty. However, when I attempted to buy some more ADIG shares this morning during the process a screen popped up with a breakdown of all charges to be incurred (never seen this before) - this time aside from quoting the usual buying/stamp duty costs it also mentioned ongoing charge of 1.8% paid annually to ADIG's Investment Manager. As soon as I saw this I aborted the transaction. Has anyone on here ever incurred such fees? If so how is the fee paid to the Investment Manager, is it taken directly from your standard shares account/ISA? Many thanks.
hugepants: Looking at the 5 year charts on the HL website the discount here is usually in the 5%-10% range. So the current 20% discount is at least twice the norm. Also fyi from the June interims; Discount management policy The Company's discount management policy seeks to maintain the Company's share price discount to NAV (calculated excluding income, with debt at fair value) below 5%, subject to normal market conditions. Unfortunately, as explained in the Investment Manager's Report, we were not in anything like normal market conditions. As the pandemic worries took hold and investor concerns multiplied through March, the Company's share price fell sharply which resulted in the discount (calculated with debt at fair value) widening from 7.6% at 30 September 2019 to 12.1% at 31 March 2020. During the period, the Company bought back 3.1 million shares into treasury at a cost of £3.4 million. The Board will continue to monitor the discount and buy back shares in support of the discount management policy (or undertake share issuance if required) when it believes it is in the best interests of shareholders, whilst also having regard to the prevailing gearing level and the composition of the Company's portfolio.
hindsight: Think better thing than windup is to hand the management over to Ballie Gifford. Then they will go from discount to premium and us value leaning investors can depart while the growth come in
speedsgh: INVESTMENT OBJECTIVE With effect from 11 February 2017, the Company's investment objective was changed to target a total portfolio return of LIBOR (London Interbank Offered Rate) plus 5.5% per annum (net of fees) over rolling five-year periods. Up until 10 February 2017, the Company's investment objective was, over the medium term (five to seven years), to aim to preserve capital in real terms and to grow the dividend at least in line with inflation and to target a total portfolio return of UK Consumer Prices Index plus 4% per annum (before ongoing charges) over a five to seven year cycle. INVESTMENT POLICY The Company invests globally using a flexible multi-asset approach via quoted and unquoted investments. The Company has not set maximum or minimum exposures for any geographical regions or sectors and will achieve an appropriate spread of risk by investing in a diversified portfolio of securities and other assets. Further details of the new investment policy may be found in the Directors' Report. RISK DIVERSIFICATION It is the policy of the Company to invest no more than 15% of its gross assets in other listed investment companies and no more than 15% of its gross assets in any one company. GEARING The Board is responsible for determining the gearing strategy for the Company, with day-to-day gearing decisions being made by the Manager within the remit set by the Board. The Board has set its gearing limit at a maximum of 20% of the net asset value at the time of draw down. Gearing is used selectively to leverage the Company's portfolio in order to enhance returns where and to the extent considered appropriate. INVESTMENT PROCESS The Investment Manager believes that many investors could dramatically improve their long-run returns and / or reduce risk by having a more diversified portfolio. The Investment Manager's aim is to build a genuinely diversified portfolio consisting of a wide range of assets, each with clear, fundamental performance drivers that will deliver an attractive return for the Company's shareholders. The Investment Manager engages all of its research capabilities, including specialist macro and asset class researchers, to identify appropriate investments. The approach, which incorporates a robust risk framework, is not constrained by a benchmark mix of assets. This flexibility ensures that the Investment Manager does not feel compelled to invest shareholders' capital in investments which they believe to be unattractive. The Company's portfolio consists of investments from the widest range of asset classes. The portfolio may include equity-focussed investments, alternative diversifying assets (including, but not limited to, high yield bonds and loans, emerging market debt, asset backed securities, property, infrastructure, commodities, absolute return investments, insurance linked, farmland, royalty-based investments and aircraft leasing) and low return assets such as gold, investment grade credit, tail risk hedging and government bonds. Detailed investment research (including operational due diligence for unquoted funds managed by third parties) is carried out on each potential opportunity by specialist teams within the Investment Manager. The weighting ascribed to each investment in the portfolio reflects the perceived attractiveness of the investment case, including the contribution to portfolio diversification. The Investment Manager also ensures that the weighting is in keeping with their overall strategic framework for the portfolio based on the return and valuation analysis of the Investment Manager's Economic and Thematic Research team. The fundamental and valuation drivers of each investment are reviewed on an ongoing basis. A schematic of the investment process is included in the published Annual Report along with a description of the Investment Manager's risk control process.
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