Share Name Share Symbol Market Type Share ISIN Share Description
Aberdeen Diversified Income And Growth Trust Plc LSE:ADIG London Ordinary Share GB0001297562 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 99.00 223,924 13:56:44
Bid Price Offer Price High Price Low Price Open Price
98.40 99.00 99.00 99.00 99.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 20.78 17.91 5.58 17.7 314
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:02 UT 4,598 99.00 GBX

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Date Time Title Posts
30/7/202106:11Aberdeen Diversified Income and Growth Trust plc 174

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Aberdeen Diversified Inc... (ADIG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-07-30 15:35:0299.004,5984,552.02UT
2021-07-30 15:26:4698.914,0003,956.34O
2021-07-30 15:07:5098.916,0235,957.35O
2021-07-30 14:19:5998.2050,45449,545.83O
2021-07-30 14:19:0398.2061,10760,007.07O
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Aberdeen Diversified Inc... Daily Update: Aberdeen Diversified Income And Growth Trust Plc is listed in the General Financial sector of the London Stock Exchange with ticker ADIG. The last closing price for Aberdeen Diversified Inc... was 99p.
Aberdeen Diversified Income And Growth Trust Plc has a 4 week average price of 96.80p and a 12 week average price of 93.40p.
The 1 year high share price is 103.50p while the 1 year low share price is currently 85.60p.
There are currently 317,185,238 shares in issue and the average daily traded volume is 328,595 shares. The market capitalisation of Aberdeen Diversified Income And Growth Trust Plc is £314,013,385.62.
hugepants: It looked for a while that the discount was beginning to close here but its back up to 17% with NAV at 119.3p. The NAV is now pretty much where it was pre-pandemic but the share price is more than 10% lower. Feels really low risk with that discount, diversification, negligible gearing and above average yield. De Silva looks to be doing a bit better than the previous shower that were running this trust but not reflected in the share price!
cc2014: Share price finally creeping up consistently. Funny how I'm now looking at it and thinking I should have bought more whilst at the time I didn't want to overcommit. Indeed I'm still looking and thinking I should buy more but I shall resist. The discount is too large but I'm not convinced De Silva can consistently turn 6% although I will be satisfied with say 5.5%. Not sure he can do that either but as long as it doesn't go below 5% it won't concern me.
wunderbar: Thanks to everyone who responded to my question re ADIG management fees. Having watched Nalaka De Silva’s presentation I've noted some key points. Performance measure: NAV total return (defined as change in NAV plus dividends reinvested) of 6% per annum over a rolling five year period. The growth element will come from Private and Alternative markets. The goal is to reposition the fund as follows: Private Markets 45%, Listed Alternatives 20%, Fixed Income & Credit 25%, Equities 10%. Following info taken from the Earnings slide: How does the portfolio translate to Earnings? As the portfolio transitions the predictability of earnings will become clearer as we gain more exposure to contracted cash flows from Infrastructure Assets and Credit Investments (>65% of Earnings Per Share). Additional earnings will be sourced from alternative income sources such as Emerging Market Debt, Specialised Finance and Royalties. We believe these reliable income streams will support ADIG’s ability to continue to pay sustainable dividends. A question was posed to De Silva asking if there was any kind of discount target (re NAV), he said the boards objective would be to get within 5% (currently c.18%). De Silva himself said he hopes to see ADIG “trading at close to par in a couple years time". He went on to say, “I’m pretty happy to be a fairly boring dividend play for a short period of time while we grow and provide some stability for investors”. END. As I’ve said before I’m very happy for ADIG to keep plodding on, steady as she goes, boring dividend play indeed. Who can complain with the stock generating almost 6% yield at current price. Talking of which we’ve seen a steady rise of a few pence over the last week or so, almost touching 98p now (noting 6 month trading range 92p-100p). Given the large discount to NAV (117p) I’d expect the gap to reduce considerably within 6-12 months, perhaps even touching 105p-110p. However, should De Silva’s reboot strategy fail to have any meaningful impact on NAV or share price in the next 12-18 months then both he and the board of directors will have some explaining to do, especially as the previous Aberdeen manager oversaw a c.20% decline in share price over a 5 year period, truly diabolical. Of course it’s still early days noting the change of investment strategy only became effective from AGM date of 23 February 2021. Whilst I’ve always viewed ADIG an income stock, by virtue of having the word ‘growth’ in its title it’s about time this stock actually did what it says on the tin… GROWS!
speedsgh: HTTPS:// You’ll have probably heard me say a number of times that one of the great strengths of the investment companies sector is its ability to adapt to changing circumstances. This week, I thought I would look at two funds that have not fulfilled their potential but have been revamping their investment approach – JPMorgan Multi Asset Growth & Income (MATE) and Aberdeen Diversified Income & Growth (ADIG). The prize, if they can demonstrate real improvement, could be considerable... ... The changes at ADIG, which were approved by its shareholders in February this year, involved a change of portfolio manager to Nalaka de Silva, the adoption of the same objective as MATE – 6% per annum over rolling five-year periods, a commitment to a progressive dividend with top-up from reserves if necessary, and a repositioning of the portfolio to include a greater proportion of private market (unlisted) investments. The trust also redeemed a large chunk of its expensive debt. What ADIG hasn’t done yet is sort out its discount, which at the time of writing stands close to 19%. The shift to greater unlisted exposure complicates this and probably prevents the adoption of an active buyback policy. The board may be hoping that an improvement in returns does the job, but for an investment company looking to deliver low volatility returns, discount volatility is unhelpful...
hugepants: ASI, ADIG’s investment manager, is paid an annual management fee of 0.5% of net assets up to £300m and 0.45% thereafter. Investments in ASI funds that invest directly in alternative assets, such as infrastructure or property, are charged at the lowest institutional rate, while fees charged on ASI funds that do not invest directly in alternatives are waived or rebated to ADIG. There is no performance fee. Management fees and financing costs are charged at a ratio of 60% to capital and 40% to revenue (with effect from 1 October 2018; previously 65:35). At end-FY20, ADIG’s ongoing charges were 0.84%, unchanged compared to end-FY19.
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.
cc2014: I am getting very indecisive over this one. Every day the bid seems to creep up during the day only for at some point someone to come along and sell a chunck of shares and stop it rising. It was originally my plan to keep 2/3rds of my shares regardless and flip the other third at some price I hadn't yet determined between 97-99p. Only as I write this I keep looking at the NAV and wonder whether I may find myself selling at say 97p only to see the share price go to say 105p which is what I think is closer to where it should be.
cc2014: I honestly don't know what to do... herewith my thoughts. I have already bought a small amount at an average of 93.6 inc. stamp duty and all costs. So, I'm looking at the share price and discount and thinking it's a good price. But what I can see is a stream of regular sellers who are providing stock every day to Aberdeen to buy back. Now these buy-backs should be closing the discount and discouraging the sellers but they clearly aren't because the sellers want to sell for whatever reason. I suspect the sellers may be selling due previous mistakes made by the fund manager but that's all in the past and I've been through the underlying holdings and I'm comfortable enoough. However, my views on this aren't going to stop the sellers selling it down further, if that's their mindset. Further we now have some drip selling as bond yields are rising. All the above doesn't really put my off buying any more, albeit it would be nice if the share price would pop down to 90p for half an hour so I can load up and then immediately bounce to 95p. However, what is putting me off is the strength of the indicies worldwide. I know from the holdings ADIG isn't as senstitive to a general sell-off as most but some form of pull-back has to be on the cards sometime because the Dow and S&P cannot keep going up forever 8 days out of 10. The pattern just isn't consistent with what usually happens. Any decent long term rally requires a test of support but we aren't doing that. So, I will keep my powder dry because if the say the Dow pulls back to a mere 31,000 I think everything will go with it regardless of whether it should or not. It's a mad world we live in right now.
cc2014: Share prices fell overnight in the East while we were sleeping, which is the danger here. If we get a pullback in markets (generally) of say 5% which in my imho would not be unreasonable, will the sharprice fall or will the NAV close? I'd bet on the share price falling. I am watching. I'd like something around 92-93p to entice me to press the buy button. I don't think that very likely but there again this market is mad. Who knows where it is going next, but I fear more than anything we haven't had a proper pullback in months since all this retail money came into the market and I wonder how many stops will fire once it starts falling. Not, that I think there's much speculative retail money in ADIG but if the market starts falling everything will go with it. Who knows. If you had asked me yesterday I'd have said I'd got no chance at 93p and it would require a big sell-off and distressed sellers. Today it's only 3 percent away which looks do-able.
wunderbar: I've been meaning to comment on this thread for ages and now finally getting round to it. This stock comes in for a lot of flack but I'm actually a big fan. Why? Because it's boring as hell, decidedly dull, it just keeps plodding on and pays a generous dividend, currently c.6%. I've bought multiple tranches of this stock ranging from 84p to 109p, first in 2016 (when it was known as British Assets Trust / BlackRock Income Strategies Trust) and the rest in past 12 months including today @ 90p. My average is c.97p so slightly down but nothing to be overly concerned about. During many months of Covid induced volatility ADIG has actually been the rock of my portfolio, star performer in terms of resilience/stability - unlike certain other stocks I own which saw values plummet 50-80% before recovering on vaccine news. And not to mention ADIG has continued paying quarterly dividends throughout Covid/Lockdown whereas many blue chip stocks suspended payments altogether this year. I understand a longstanding issue with this trust is poor capital growth over the years. It's true many other trust's have seen good/stellar growth in past 10 years (pre Covid crash) whilst ADIG has suffered significant capital erosion during same period. I hasten to add timing is crucial, anyone buying at top of cycle will always inevitably suffer. This snippet recently caught my eye, courtesy of Citywire/Numis (28 October) "ADIG NAV total returns have been 4% over the last three years, versus 24% for the MSCI AC World index". Needless to say the trust's Fund Managers have failed miserably during this time. This is one of the oldest trust's around, formed in 1898! I Googled ADIG's share price chart over maximum period dating back to March 1995 when share price was 87p, fast forward 25 years and today it's just 90p. Tells its own story - this is purely an income stock thanks to the perennially generous dividend rather than a capital growth stock. Mind you if you tallied up all the dividends over the years that'd be quite a sum. On a final note some of you asked why the share price dropped sharply today, at one point falling 5.4% or 5p @ 88p before slight recovery. Quite remarkable given it briefly touched 96p first thing in morning (thus falling 8% in just a few hours - and there's me saying this stock has been stable!). Whilst I couldn't find a specific reason I did go on to discover approximately 15 of the top 20 fallers today were Investment Trusts, so it's definitely sector related. Come tomorrow if there's a continuation of this downward pressure I might consider topping up again.
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