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
  0.20 0.21% 95.80 497,712 16:35:00
Bid Price Offer Price High Price Low Price Open Price
94.60 95.60 95.20 93.40 95.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 20.78 17.91 5.58 17.2 304
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:00 UT 2,427 95.80 GBX

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Date Time Title Posts
08/4/202100:09Aberdeen Diversified Income and Growth Trust plc 141

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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 95.60p.
Aberdeen Diversified Income And Growth Trust Plc has a 4 week average price of 91p and a 12 week average price of 91p.
The 1 year high share price is 103p while the 1 year low share price is currently 83p.
There are currently 317,185,238 shares in issue and the average daily traded volume is 767,209 shares. The market capitalisation of Aberdeen Diversified Income And Growth Trust Plc is £303,863,458.
essentialinvestor: Notice their self set benchmark has been altered recently. LIBOR plus 5% (net of fees) annually has been ditched. Was it ever hit?, from memory No. ADIG arguably utterly failed to get even near that. Now replaced by a far wider. income and capital growth over the long term. As they also appear to be struggling with the capital growth bit, perhaps a further change will be necessitated given time - irony intended. I trade this, rather than buying and holding. Buy a few on a bad day, sell on a better one. Not currently at a price I would add any more at, below 91 a share perhaps, if available.
cc2014: If you guys want to sell and drive down the share price, I'm happy to pick up your shares Edit: Sorry that's a bit harsh and I guess I'd be pretty fed up if I'd been sitting in this trade for years. However, what we all have to decide is whether the trade is worth holding onto or we are better off moving on. I guess as you guys are still here, somewhere you view the current fund manager as doing an acceptable job I dunno really. It looks cheap to me. I'm not sure how much of that is to do with the Morningstar rating. I'm for in a comfortable amount now and whilst I would not object to it going to 90p to buy some more, if I find myself topping up all the way down to 85p I'm going to shaking my head as well and questioning my decision process.
essentialinvestor: ADIG finally out of Doric Nimrod Air two, about a 70% capital loss on that?. And not being wise after the event, questioned the 'quality' of that investment here pre pandemic, already significantly lower than book cost pre Covid-19. Morningstar give ADIG a one star rating, perhaps generous.
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.
hugepants: The discount is way too big though. It's nearly 17% compared with the 5% target. I think it will close at some point. They should be cranking up the buybacks. The company has cash and negligible gearing so they can afford to. Discount Management During the year ended 30 September 2020, the shares performed poorly relative to the NAV return with the result that the discount to NAV moved from 7.6% to 17.2% (all figures calculated with debt at fair value and excluding income). The Board is very much 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 latter half of the year under review cannot be regarded as 'normal market conditions' given the extraordinary uncertainties relating to COVID-19, it does not fully excuse the wide discount that prevailed at the end of September 2020. Through the year, the Company remained committed to buying-back shares and a total of 5.65 million shares were repurchased for a value of £5.7 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
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.
speedsgh: And yet still the share price languishes 16% below pre-Covid levels and at a mid-teens discount to NAV.
neilyb675: Aberdeen Diversified Income and Growth Trust (ADIG) has a diversified multi-asset approach, aiming to generate attractive long-term income and capital returns. After a strategic review in October 2020, the manager intends to increase the share of private assets in the portfolio to 45% by Q221 and to 55% over the long term (vs the previous c 43% target). ADIG's investment committee will now be led by Nalaka de Silva, head of private market solutions at Aberdeen Standard Investments (ASI). While ADIG's NAV TR performance has lagged the benchmark in recent years, the shares continue to offer an attractive FY21 yield of 5.8% (based on ADIG's dividend guidance). The manager's plan to maintain or increase dividends should be supported by the lower interest expense post the partial bond repurchase in early November 2020 and the use of revenue reserves. ADIG's NAV TR performance has lagged its benchmark (Libor + 5.5% pa) since the strategy change in March 2017 to an increased focus on less liquid assets. The NAV discount has widened to c 10-22% since end-March 2020 from 5% before the COVID-19 pandemic. The last 12 months (LTM) dividend yield is 5.7%, ahead of its peers. We note that in FY20 dividends were covered by earnings.
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.
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.
Aberdeen Diversified Inc... share price data is direct from the London Stock Exchange
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