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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
  0.50 0.56% 89.30 398,074 16:35:01
Bid Price Offer Price High Price Low Price Open Price
88.80 89.80 90.00 88.80 88.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 18.88 16.87 5.14 17.4 283
Last Trade Time Trade Type Trade Size Trade Price Currency
16:25:32 O 4,459 88.979 GBX

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Date Time Title Posts
25/1/202312:01Aberdeen Diversified Income and Growth Trust plc 318

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

Trade Time Trade Price Trade Size Trade Value Trade Type
16:25:3388.984,4593,967.57O
16:25:1589.8010.90O
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16:02:0289.3025,00022,325.00O
15:56:5388.981,000889.79O
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Posted at 07/2/2023 08:20 by Aberdeen Diversified Inc... Daily Update
Aberdeen Diversified Income And Growth Trust Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker ADIG. The last closing price for Aberdeen Diversified Inc... was 88.80p.
Aberdeen Diversified Income And Growth Trust Plc has a 4 week average price of 86.60p and a 12 week average price of 86.60p.
The 1 year high share price is 104p while the 1 year low share price is currently 83.20p.
There are currently 317,185,238 shares in issue and the average daily traded volume is 383,594 shares. The market capitalisation of Aberdeen Diversified Income And Growth Trust Plc is £283,246,417.53.
Posted at 24/1/2023 18:40 by thrugelmir
See no need to send any message to the board. There's an active share buy back scheme in place. Mopping up shares at a reasonable price takes time. Meanwhile there's a covered dividend of around 6% to enjoy.
Posted at 24/1/2023 16:15 by spectoacc
A pain voting nominee holdings. More so since I don't hold any ADIG ;)

But otherwise agree.

Posted at 10/1/2023 16:10 by hohum1
87p bid - share price reaction to the new DCM statement was exactly what you’d expect. Vote against continuation!
Posted at 06/1/2023 11:42 by hugepants
essential I agree ADIG has been awful but that doesn't mean it's NAV should be questioned just because the RCP NAV is.
Posted at 06/1/2023 11:07 by essentialinvestor
Disagree HP, although there has been a marked change in portfolio allocation, RIT has been a stellar long term performer.
Now past performance is no ..etc and none of us have a crystal ball obvs.

ADIG has failed to deliver time and time again, since the new remit - the change since the British Assets Trust days.

Share price around £1.40, in 2015 at the time of the first mandate change. It's woeful.

Posted at 06/1/2023 10:56 by hugepants
At a quick glance the portfolio weightings look similar between ADIG and RCP ie. private markets, fixed income and credit, listed equity, yet the charts are very different. RCP chart looks a bit more like a PE fund post-covid whereas ADIG more like a fixed income. I think Id be more confident in ADIG's NAV.
Posted at 03/1/2023 16:11 by hugepants
They've been selling stuff. Net cash is now 6.6%

https://uk.advfn.com/stock-market/london/aberdeen-diversified-inc-ADIG/share-news/Aberdeen-Diversified-I-G-Trust-PLC-Gearing-disclos/89895113

Posted at 28/9/2022 17:50 by wunderbar
I previously described ADIG as the rock of my portfolio given its low volatility in previous market turmoil. And up until mid-August it was doing what it is does best, plodding along in its usual boring fashion. Unfortunately it has succumbed to the latest market mayhem which has seen the stock plummet 6% in the space of a week and 8% over the month [sp closed at 90.8p, intraday low 88p]. The timing of this fall couldn’t have come at a worse time for ADIG’s management team noting financial year end is 30 September. In essence ADIG’s yearly performance has been derailed at the last minute and unless the share price rebounds sharply in next couple of days then results for 2022 will read as very poor, showing a share price decline of 9% over the year [vs 100p, y/e 2021], discount to NAV widening to over 20% [17.9%] and NAV falling to c.116p [122p].

Since portfolio manager Nalaka De Silva's investment strategy was implemented 18 months ago [c.98p] the share price has fallen 7%. Prior to recent falls the share price had spent most of the year bobbling between 98-101p, not really gaining any traction. The large discount to NAV continues to be a major problem despite buybacks. The board have stated they are targeting a discount of less than 5% [subject to normal market conditions] but this currently stands at over 20% [vs 12 month average 16.85%]. As for the NAV, there's been no sign of any growth in past 12 months which goes against the trust's objective. As ever I can’t complain re dividend income but I am getting increasingly impatient with the ongoing discount to NAV and general lack of growth in asset values.

On announcing his new strategy in Feb 2021, De Silva said “Private Equity/Market investments won’t yield/bring instant rewards, I’d expect these to start bringing in a generous income/return on equity within 3-5 years”. All being well these investments will start bearing fruit within the next couple of years, and in doing so should considerably narrow the steep discount to NAV. However, if there's no real progress come the end of his five year plan then both Nalaka De Silva and chairman Davina Walter will have a lot of explaining to do. Bottom line is both NAV and shareprice need to significantly improve or I'd expect heads to roll.

On a final note, this decline will be particularly frustrating for shareholders as we are now back to where we were almost two years ago. I topped up at 90p hoping the market sees sense in due course. Whilst ADIG is now my biggest holding I'm looking to cut my stake by 50% around the 100p mark. In fact I’m looking to divest 50% of my portfolio in the next 12-24 months simply as a de-risk measure. With the BOE base rate predicted to rise to 5.5% by next summer I suspect many investors will start moving funds into fixed rate savings offering returns equal to [if not better than] typical dividend yields [current FTSE100 average yield is 4.18%], all without the stress or worry of incurring significant capital losses as demonstrated by many stocks this year.

Posted at 01/8/2022 13:20 by spectoacc
I still can't get excited about ADIG.

Https://www.trustintelligence.co.uk/investor/articles/fund-research-investor-aberdeen-diversified-income-growth-retail-jul-2022-c025f40c-d237-4dd9-9291-0a27bc7cb2b4

1.76% ongoing charge (is that right? HL figs, Edison different), uncovered divi (but not by much). Looks the usual vehicle to direct more money into the manager's own funds (ABRDN, in this case, but they all do it - Schroders, Columbia, JPM etc), whilst trying to persuade you that you have "access" to their network/skill. Really? What, like the performance of ABDN's share price?

Opaque, less frequently valued things like property. A yield that looks great until RPIX hit 11.8% the other month.

Discount - that's the only thing that may draw me in.

@tiltonboy - persuade me! Their equity picks look mostly fairly safe. But other than discount, a bag over my head, and risk, what am I getting here?

Edit - Edison's p.6 peer group comparison rather painful, not sure I'd pit ADIG against the genuine wealth preservers like PNL, CGS, RICA. Strip out the two JPM's with short records, and they're bottom (6th of 6) over 3yrs, 5yrs, and 4th out of 6 over a year.

Https://www.edisongroup.com/wp-content/uploads/2022/07/GB0001297562ADIGReview180722_final.pdf

"The trust’s ongoing charges are lower than the peer average
and it does not charge a performance fee" - be interested to know why HL think it's far higher.

Posted at 09/12/2021 20:19 by speedsgh
Annual Financial Report - HTTPS://www.investegate.co.uk/aberdeen-diversified--adig-/rns/annual-financial-report/202112090700040251V/

[excerpt]

Earnings and Dividend

A major component of the proposition to investors remains a dependable and regular dividend. Total dividends paid during the year represented a yield of 5.5% based on the year end share price of 100.0 pence. The Board confirmed, as part of the strategic review, its intention to continue to pay at least the current level of dividend. In addition, to cover the period before the new Private Markets' investments start to make distributions, the Board is prepared to use its revenue reserves, which have been built up by the Company over many years, to support the dividend policy as required, which also provides shareholders with a level of comfort regarding regular income payments.

Three interim dividends of 1.38 pence per share were paid to shareholders in March, July and October 2021. The Board is declaring a fourth interim dividend of 1.38 pence per share to be paid on 20 January 2022 to shareholders on the register on 24 December 2021. The ex-dividend date is 23 December 2021. Total dividends for the year are 5.52 pence per share, 1.5% higher than the 5.44 pence per share paid in respect of the year ended 30 September 2020. After the payment of dividends during the year, £1.1m was drawn down from the Company's revenue reserves.

For the year to 30 September 2022, the Board currently intends to declare four quarterly dividends of 1.40 pence per share or 5.60p per share in total, which will be the equivalent of an increase of 1.4% on the 5.52p paid for the year under review. As in previous years, the Board intends to put to shareholders at the Annual General Meeting ("AGM") on 22 February 2022 a resolution in respect of its current policy to declare four interim dividends each year.

Discount and Treasury share policy

During the year ended 30 September 2021, the shares performed broadly in line with the NAV return. The Company's discount (calculated with debt at fair value) narrowed from 19.3% at 30 September 2020 to 17.9% at 30 September 2021. The Board is fully aware that this level of discount is inconsistent with the previously stated policy which is to seek to maintain the Company's share price discount to NAV (excluding income, with debt at fair value) at less than 5%, subject to normal market conditions. Whilst the past year cannot be described as 'normal', it does not fully excuse the wide discount that prevailed at the year end.

Throughout the year, the Company continued to buy back shares and a total of 8.0 million shares were repurchased at a cost of £7.7 million. The Board, however, feels that in order for the share buy-back to be truly effective performance improvement from the portfolio is an absolute priority, so it will continue to make some allowances for both market conditions and the changes to the portfolio that are set out in this Report. The Board will continue to monitor the discount on a daily basis and buy-back shares into treasury, or undertake share issuance if required, when it believes it is in the best interests of shareholders to do so, while also having regard to the prevailing gearing level and the composition of the Company's portfolio.

[continues]

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