Abrdn Asia Focus Share Discussion Threads

[davebowler] 14/2/2018 13:29

13% discount to NAV

[davebowler] 12/2/2018 11:14

8 Feb NAV Aberdeen Asian Smaller Cos Investment Trust Fully Diluted Including Income 1175.04p Ordinary

[davebowler] 09/1/2018 16:15

8 Jan Aberdeen Asian Smaller Cos Investment Trust Fully Diluted Including Income 1200.17p

[davebowler] 20/12/2017 11:34

18 Dec NAV Aberdeen Asian Smaller Cos Investment Trust with Debt at Fair Value Including Income 1220.30p

[the oak tree] 27/10/2017 21:05

In the papers:



Exert:

“..........City Union Bank benefited from [Indian] Prime Minister Narendra Modi’s demonetisation policy that drove consumers holding cash to place them in bank deposits instead and Tisco Financial was lifted by improving asset quality that outpaced that of the larger lenders,” the report said.

“Separately, Tisco bought Standard Chartered’s Thai retail operations, which will be integrated into the group. The move, which we view positively, is in line with its long-term strategy.”

Trust chairman Nigel Cayzer said India generally is presenting good investment opportunities for the trust, thanks to an “acceleration in economic growth”.

China, on the other hand, is less attractive “owing to concerns over corporate governance and quality of smaller companies there”.

Mr Cayzer added that the trust’s board is proposing a 12p final dividend for the year, which would take the total to 16p per share.

If approved by shareholders that would represent a 52 per cent increase on the 10.5p paid out in 2016.

The board is also proposing to pay a special dividend of 4p per share.

[davebowler] 13/10/2017 11:53

12 Oct NAV Aberdeen Asian Smaller Cos Investment Trust Fully Diluted Including Income 1221.62p

[davebowler] 04/10/2017 11:09

2nd Oct Aberdeen Asian Smaller Cos Fully Diluted NAV Including Income 1199.36p

[davebowler] 22/6/2017 16:13

21 Jun NAV Aberdeen Asian Smaller Cos Investment Trust with Debt at Fair Value Including Income 1282.83p Ordinary

[tiltonboy] 20/6/2017 19:55

I cleared out the 129p offer today, and buying them for precisely the reasons you mention DB. First started buying them at 113p.

[chinahere] 20/6/2017 16:39

Great. Am interested.

[chinahere] 20/6/2017 16:39

Cheers. So assuming they don't go bust we get 3.5p dividend per annum for each one held and for two years we can exchange them at the rate of 8.3 CULS per ordinary share regardless of the underlying share price?

[davebowler] 20/6/2017 16:27

Price is £1.29 x 8.3 = £10.71 plus a higher div and protection down to £1 per pref share.

[chinahere] 20/6/2017 16:16

Edit. Just read this so is the conversion price fixed in time ?:

"The Conversion Price (being the nominal amount
of CULS required to convert into one Ordinary Share) will be rounded down to the nearest 5 pence, and
will be set at a 15 per cent. premium to the unaudited NAV (including income) per Ordinary Share on
Monday, 14 May 2012."

So what was that figure? Davebowler is it £1.29 * 8.3 then?

[chinahere] 20/6/2017 16:13

It doesn't look like a good way to get into AAS to me. I had a look at the prospectus and I read it that they convert at nominal price into a premium on the ordinaries NAV. Am I right? Here's their text illustration:

"By way of illustration, had the Conversion Price been set by
reference to the unaudited NAV (including income) per Ordinary Share at 18 April 2012 of 718.56p, the
Conversion Price would have been 825p and a holder of £1,000 nominal of CULS would have been
entitled to 121 Ordinary Shares on conversion of their CULS"

[davebowler] 20/6/2017 13:20

AASC is a cheaper way into this at its current price of £1.29 as it can convert to AAS
at the rate of 8.3 AASC to 1 AAS.Plus there is the higher div and protection too offered by the convertibles.

[the oak tree] 20/6/2017 12:19

Wonder how the new merger will affect performance? I'm assuming it's part of the group announced today. 12% discount is cheap imho

[davebowler] 20/6/2017 12:06

16th June NAV Aberdeen Asian Smaller Cos Investment Trust Fully Diluted Including Income 1219.73p Ordinary

[davebowler] 09/6/2017 13:58

8 Jun NAV Aberdeen Asian Smaller Cos Investment Trust Fully Diluted Including Income 1211.79p Ordinary

[davebowler] 10/4/2017 13:17

7 Apr NAV Aberdeen Asian Smaller Cos Investment Trust Fully Diluted Including Income 1214.17p

[the oak tree] 06/4/2017 18:30

Ah I meant building up.....

[the oak tree] 06/4/2017 04:37

I agree it's quite a discount buying up. Too many chase the last great performing IT. This will have its time again.....

[davebowler] 05/4/2017 14:49

4 Apr NAV Fully Diluted AAS Including Income 1202.92p

[davebowler] 17/1/2017 10:13

Still, the AACS look better value as they offer downside protection (£1 buyback in 2 yrs), some gearing , and twice the yield.