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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Abrdn Asian Income Fund Limited | LSE:AAIF | London | Ordinary Share | GB00B0P6J834 | ORD NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -4.00 | -1.82% | 216.00 | 32,737 | 08:19:13 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 216.00 | 220.00 | 216.00 | 216.00 | 216.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Mgmt Invt Offices, Open-end | 16.3M | 8.74M | 0.0538 | 40.15 | 357.57M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 10:44:16 | O | 18 | 220.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 20/11/2024 | 17:15 | UK RNS | abrdn Asian Income Fund Limited Transaction in Own Shares |
| 20/11/2024 | 12:13 | UK RNS | abrdn Asian Income Fund Limited Net Asset Value(s) |
| 19/11/2024 | 17:17 | UK RNS | abrdn Asian Income Fund Limited Transaction in Own Shares |
| 19/11/2024 | 13:08 | UK RNS | abrdn Asian Income Fund Limited Net Asset Value(s) |
| 18/11/2024 | 17:17 | UK RNS | abrdn Asian Income Fund Limited Transaction in Own Shares |
| 18/11/2024 | 13:46 | UK RNS | abrdn Asian Income Fund Limited Gearing disclosure |
| 18/11/2024 | 13:19 | UK RNS | abrdn Asian Income Fund Limited Net Asset Value(s) |
| 15/11/2024 | 17:33 | UK RNS | abrdn Asian Income Fund Limited Transaction in Own Shares |
| 15/11/2024 | 13:04 | UK RNS | abrdn Asian Income Fund Limited Net Asset Value(s) |
| 14/11/2024 | 17:19 | UK RNS | abrdn Asian Income Fund Limited Transaction in Own Shares |
Abrdn Asian Income (AAIF) Share Charts1 Year Abrdn Asian Income Chart |
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1 Month Abrdn Asian Income Chart |
Intraday Abrdn Asian Income Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 14/11/2024 | 13:03 | Aberdeen Asian Income Fund | 353 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 10:44:16 | 220.00 | 18 | 39.60 | O |
| 10:36:31 | 219.50 | 1,133 | 2,486.94 | O |
| 10:36:03 | 218.20 | 7,500 | 16,365.00 | O |
| 10:30:07 | 219.37 | 4,209 | 9,233.45 | O |
| 10:02:08 | 219.52 | 1 | 2.20 | O |
| Top Posts |
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Posted at 21/11/2024 08:20 by Abrdn Asian Income Daily Update Abrdn Asian Income Fund Limited is listed in the Mgmt Invt Offices, Open-end sector of the London Stock Exchange with ticker AAIF. The last closing price for Abrdn Asian Income was 220p.Abrdn Asian Income currently has 162,532,706 shares in issue. The market capitalisation of Abrdn Asian Income is £351,070,645. Abrdn Asian Income has a price to earnings ratio (PE ratio) of 40.15. This morning AAIF shares opened at 216p |
Posted at 14/11/2024 13:03 by davebowler htTPs://www.abrdn.co |
Posted at 24/10/2024 10:33 by davebowler Fund managers’ reportMarket and portfolio review Asian markets posted decent returns in September, supported by the start of the US Federal Reserve’s (Fed) policy easing cycle but with most of the gains occurring in the last few trading days of the month, largely driven by a sharp rally in China. The Fed cut its policy rates on 18 September, opening a window for the People’s Bank of China (PBOC) to implement a more aggressive and coordinated monetary policy combination, including rate cuts and lending facilities for equity purchases and buybacks. This was reinforced by a Politburo meeting on 26 September following which we saw a loosening of housing policies. Stocks in Thailand also outperformed the region as the government initiated some economic stimulus policies. In India, the market was flat and underperformed despite the World Bank raising its full-year GDP forecast for the country. Taiwan also ended the month flat while the Korean market was one of the few across the region to remain in negative territory, continuing its volatile trend this year. In corporate news from our holdings, China’s Autohome announced that it has decided to pursue a US$200 million (£150 million) share repurchase programme over the next 12 months. Together with annual dividends, it brings Autohome’s annual shareholder return up to a decent 13.7%. In terms of portfolio activity in September, we initiated a new position in China Construction Bank (CCB) the second-largest state-owned enterprise (SOE) bank in China, with a strong and stable retail deposit base and low funding costs. Its retail book is heavily weighted to lower-risk mortgages with some skew towards infrastructure loans. Within state-owned banks, CCB has its advantages in retail deposit and mortgages. Along with prudent management, CCB continues to stand out as a relatively better player. Conversely, we exited our holding in Auckland International Airport in view of better opportunities elsewhere. Outlook As we head into the final months of 2024, we’ve seen stocks across Asia rebound on the back of the Fed’s rate cut and China’s fresh stimulus. The question now is whether the Chinese authorities follow through with fiscal measures aimed at boosting the demand side and reviving consumer sentiment and consumption. Other key areas of focus would include rising geopolitical risks in the Middle East, where Iran’s missile strike has increased the risk of a broader escalation, with direct conflict between Iran and Israel now more likely. Oil prices have spiked in response to the fragile and rapidly evolving situation, and we are monitoring developments closely. In the US, it remains a tight race between Donald Trump and Kamala Harris in the run-up to the 5 November presidential election, with the outcome bringing implications around trade, tariffs and foreign policy to Asia. Returning to Asia, India continues to be a bright spot given the positive macro backdrop. Valuations remain full, but we continue to see opportunities from a selective bottom-up approach in high quality companies benefitting from structural tailwinds. We are also positive about the longer-term outlook of the technology sector, albeit sentiment across the tech supply chain has weakened because of concerns about the risk of a US recession and weakness in the smartphone and PC segments. Longer term, we see structural growth in generative artificial intelligence (AI), which might mean multi-year structural demand for data centre content and infrastructure upgrades, boding well for the advanced semiconductor sector. We continue to believe that Asia remains home to some of the highest quality and most dynamic companies in the world. The region continues to offer rich pickings, underpinned by long-term structural growth trends such as the rising middle classes, rapid adoption of emerging technologies and continued urbanisation, enabling bottom-up stock pickers like us to deliver sustainable returns over the long term. We have continued to tighten the quality characteristics of our portfolio, introducing and adding to names with greater near-term earnings visibility and steady cash flow generation, while actively reducing and exiting names where earnings are less visible. More broadly, we maintain our conviction in our holdings and their ability to navigate the various crosswinds buffeting markets, given their quality and fundamentals, which we believe will deliver good dividends for shareholders over the long run. |
Posted at 23/9/2024 09:12 by davebowler Fund managers’ reportMarket and portfolio review Asian equities closed flat in August in sterling terms following a volatile start to the month. Global markets fell sharply following the US Federal Reserve’s decision to keep rates unchanged, triggering recession concerns, and an unwinding of yen carry trades after the Bank of Japan’s rate increase and a sharp rise in the yen. Subsequently, however, markets rebounded thanks to more reassuring economic news in the US and growing hopes of a soft landing for its economy, while most Asian currencies rose against the US dollar. Across the region, Southeast Asia outpaced North Asia and India. Indonesia, one of the most rate-sensitive stock markets in Asia, was boosted by rising expectations of Fed policy easing, while Thai stocks rose on better-thanexpected GDP growth. In North Asia, stocks in Hong Kong outperformed their peers in mainland China, as more resilient earnings lifted internet names and high-yielding stocks drew interest. The gains in mainland China were more modest following mixed economic data. Meanwhile, the market in Korea was a key laggard as memory stocks were weighed down partially by concerns over Nvidia’s revenue guidance. Indian stocks also underperformed on the back of soft quarterly earnings and GDP growth that reached its lowest in five quarters. There were positive reports from a number of our holdings in August, especially in the financial sector. Hong Kong-based insurer AIA announced positive interim figures which showed the business remains strong, with good momentum in its key Chinese market. The company set itself a new operating profit after tax target over three years and the interim dividend was raised by 5% with a further US$2 billion (£1.53 billion) allocated to its share buyback scheme. Second-quarter results from Singapore banking group DBS were again easily the best out of the country’s three main banks. The performance was driven by a stable net interest margin, strong fees and resilient asset quality. The dividend was maintained and the outlook for the group was positive with expectations of mid-to-high single digit full-year profit growth. CEO Piyush Gupta announced that he will be retiring and DBS’ head of institutional banking, Tan Su Shan, will take over. She’s already proven to be competent, and we don’t anticipate any significant change in strategy in the short term. Meanwhile in Australia, both Commonwealth Bank of Australia (CBA) and National Australia Bank (NAB) posted decent results. For CBA, the main positives were less pressure on profit margins and good growth in the balance sheet. NAB saw similar underlying trends with strong loan growth and an improving net interest margin. Also in Australia, mining giant BHP reported better-than-expected free cashflow for the year to June and announced an unchanged final dividend. Elsewhere, Chinese internet group Tencent reported second-quarter growth in online gaming revenue along with net profits which comfortably beat expectations. The latter was mainly due to a higher share of profits from associates, which is likely to include PDD, and lower taxes. Second-quarter net profit at Taiwan-based electronics manufacturer Accton Technology was ahead of consensus. The gross profit margin was slightly lower than expected but is forecast to improve in the second half of the year In terms of portfolio activity in August, we exited our holding in Keppel Infrastructure Trust in view of better opportunities elsewhere. Outlook September has historically been a difficult month for markets, and the first few days have borne that out. Technology stocks have turned volatile again, after a sharp drop in Nvidia’s share price and renewed concerns over AI-related stock valuations. Geopolitics simmer in the background, as it appears a dead heat for Donald Trump and Kamala Harris heading into the US presidential elections in November. At the same time, US rate cut expectations are rising, which is likely to support investor appetite in Asia as the US-Asia yield differential narrows. Market sentiment is likely to remain volatile over the short term against a still-uncertain backdrop, and we have continued to tighten the quality characteristics of our portfolio, introducing and adding to names with greater near-term earnings visibility and steady cash flow generation, while actively reducing and exiting names where earnings are less visible. More broadly, we maintain our conviction in our holdings and their ability to navigate the various crosswinds buffeting markets, given their quality and fundamentals, which we believe will deliver good dividends for shareholders over the long run. |
Posted at 14/5/2024 12:26 by essentialinvestor Dave, what I like about AAIF is the more significant NAV discount v SOI (similar portfolios) plus a nice and growing dividend.The cherry on top is their current large NAV accretive buy backs. |
Posted at 13/5/2024 15:06 by davebowler AASC is also giving a divi of 2.25% plus at 96p pays out in one year 100p and also gives the holder the right to convert into ord. AAS shares at 293p.The AAS share price is only 3% below that level currently, at 284p, and trades about 14% below its NAV of 332p. |
Posted at 10/5/2024 13:52 by essentialinvestor AAIF ooks outstanding value v SOI atm?. |
Posted at 08/5/2024 14:02 by davebowler Time: 9.30am - 10.30amDate: Monday, 3rd June 2024 Location: Virtual and in-person (280 Bishopsgate, near Liverpool Street station) CPD: Certificates available Presenter: FM Please join lead fund manager Yoojeong Oh for an update on the abrdn Asian Income Trust. There is both a virtual and in-person option where we will be offering breakfast in our London office; please specify your preference when registering. Yoojeong will be providing investors with an update on the Trust as well as how the portfolio is currently positioned. Yoojeong is typically based in Singapore so this will be an opportune time for you to meet her and ask any questions that you may have. The Trust targets income and capital growth by investing in quality Asia-Pacific companies across the market cap spectrum. Environmental, social and governance (ESG) analysis is embedded in the research process. The Trust's strategic underweight to China has been significant contributor to performance and the Trust's management fee is one of the lowest in the peer group. If the registration link in the box does not work for you, please register by emailing abrdn.Investment.Tru We hope that you can join us |
Posted at 17/1/2024 12:25 by gateside With the dividend increase and the fall in the share price today, AAIF now yields 6% |
Posted at 24/11/2023 16:51 by davebowler Fund managers’ reportMarket and portfolio review Asian markets remained weak in October, in common with global equities, as investors turned more risk averse due to a spike in bond yields, concerns about higher-for-longer interest rates and the most recent conflict in the Middle East. Sentiment on China remained cautious despite better GDP and export data, fresh policy measures including 1 trillion yuan (£112 billion) in planned government bond issuance and improving US-China dialogue with a Biden-Xi meeting now seen as possible in November. Elsewhere, the Indonesian market was among the weakest in the region as trade data fell by more than expected year-on-year, and the central bank unexpectedly raised rates by 25 basis points. Downbeat updates from Tesla, GM and Ford weighed on the Korean market because of concerns over slowing demand for electric vehicles that will also affect the supply chain. The Indian market fell by less than the wider region, and Taiwan also proved resilient as exports to all its markets rose in September, reinforcing a recovery in technology exports. In corporate news, many of our holdings reported earnings in October that were in line with our expectations despite the challenging global macroeconomic backdrop. It was good to see resilient performances across a range of different sectors. In the technology sector, both Samsung Electronics and Taiwan Semiconductor Manufacturing Company (TSMC) reported better-than-expected third-quarter results. At TSMC, the company saw some stabilisation in demand which provided some confidence that the semiconductor cycle was near the bottom and 2024 should see more healthy growth generally. Samsung’s results also gave a clear signal that earnings were steadily improving. In Taiwan, the Fair Trade Commission (FTC) approved the merger of Taiwan Mobile and Taiwan Star Telecom Corp (TStar). The FTC imposed three conditions on the new merged entity, including the protection of customer rights, the improvement of service and network quality, and the promotion of fair market competition. The deal will now go to the Taiwan Stock Exchange for approval and the merger is due to be completed by the end of the year. Third-quarter figures from Singapore’s United Overseas Bank showed growth in net interest income and a good recovery in fees. Low to mid-single digit profit growth might still be achievable in 2024 and the dividend yield should hold above 6%. In the same sector, TISCO Financial Group (TISCO) beat expectations with a 5.8% rise in third-quarter net profits and said it will maintain its dividend in 2024, even if net profits fall, by increasing the dividend payout ratio. The half-yearly dividend payment was also expected to continue. Mining giant BHP reported a stronger-than-expect third quarter despite the usual scheduled maintenance in the first quarter across most assets. Copper production, iron ore shipments and nickel production were all better than expected, but coal production was much weaker. There were no major portfolio changes in October. As part of our ongoing ESG engagement, we engaged with Rio Tinto to discuss proposed changes to its remuneration policy, which are due to be tabled at the 2024 Annual General Meeting. We had questions about several aspects of the proposals, especially those related to performance measures and vesting thresholds for the long-term incentive plan, as well as the share deferral requirements for the annual bonus. We will continue our engagement in order to seek further clarification on those matters and to reiterate our views. Outlook We still see significant potential for China’s economy and market to spring back, given that much of the bad news has been priced in, while a fundamental recovery is gathering pace. The rollout of more supportive policies in a coordinated manner sends a strong signal to the market that the government is intensifying its effort to prop up the economy. The government's decision to raise the budget deficit to around 3.8% of GDP and approve a 1 trillion yuan sovereign bond issue bodes well for the economy and stock market in the months ahead. Outside of China, the rest of Asia is benefiting from global supply chain diversification. India is in the early stages of a cyclical upswing. As AI-related apps and chips start to proliferate, rising demand will boost the region’s semiconductor and consumer electronics segments. Asian valuations remain attractive versus markets like the US, along with expectations of better earnings performance in the fourth quarter and early 2024. There is also dividend support. Dividends of companies in the regional MXAPJ benchmark have been growing steadily, with Asia having the best dividend growth across major markets compared with pre-Covid levels. In addition, Asia’s 2024 dividend growth is likely to be healthy. Consensus estimates suggest that MXAPJ dividend growth is set to accelerate from a forecast 0.3% for 2023 to an expected 6.7% for 2024, led by consumer services, insurance, and staples retail. At the portfolio level, a “higher for longer” rate environment could pressure growth stocks and we have a relatively lighter positioning here. We remain focused on ensuring our conviction is appropriately reflected in our positioning. We are finding the most attractive opportunities around these structural themes: Aspiration, Building Asia, Digital Future, Going Green, Health & Wellness and Tech Enablers. We continue to favour fundamental themes, which we believe will deliver good dividends for shareholders over the long run. |
Posted at 27/2/2023 12:22 by davebowler 31 Jan Monthly Report -Fund managers’ report Market and portfolio review The recovery in Asian markets, which began in November after China made its surprise reopening announcements, continued to gather pace into the new year, with the Chinese stock market rising 9% in UK sterling terms in January. Expectations that China’s reopening would boost demand for everything from consumer electronics to travel and commodities pulled a number of other Asian markets up with it, most notably the export-oriented markets of Taiwan and South Korea and the commodity-heavy market of Australia. These markets saw double-digit gains over the month, and underpinned the benchmark MSCI AC Asia Pacific Ex Japan Index’s 6% rise in sterling terms. The Indian market was among the weaker ones in the region in January, partly due to investors switching to China to take advantage of the reopening of its economy. Australian equities made a strong start to 2023 as investor sentiment improved on encouraging inflation data and better-than-expected GDP growth in the US. In corporate news, Taiwan Semiconductor Manufacturing Company (TSMC) published good fourth-quarter results during the month which showed betterthan-expected profit margins due mainly to favourable foreign exchange rates as well as cost reductions. TSMC guided for first-half revenues in 2023 to fall, followed by some recovery in the second half. Profit margins should be maintained, and the long-term growth target remains unchanged. Third quarter results from Indian IT group Infosys showed sales growth which was more resilient than expected. The company’s order book continued to grow and management raised its forecast for revenue growth in 2023. A US$1.1 billion share buyback, begun in December, was more than half way to completion. In the mining sector, BHP published an operational review covering the second half of 2022 in which it revealed that its dividend in the first half of 2023 would C Expressed as a percentage of average daily net assets for the year ended 31 December 2021. The Ongoing Charges Figure (OCF) is the overall cost shown as a percentage of the value of the assets of the Company. It is made up of the Annual Management Fee and other charges. It does not include any costs associated with buying shares in the Company or the cost of buying and selling stocks within the Company. The OCF can help you compare the annual operating expenses of different Companies. D With effect from 1 January 2020 the management fee was moved to a tiered basis: 0.85% of the average value of net assets up to £350 million and 0.65% of the average value of net assets in excess of £350 million. E Calculated using the Company’s historic net dividends and month end share price. F Net gearing is defined as a percentage, with net debt (total debt less cash/cash equivalents) divided by shareholders’ funds. G The ‘Active Share’ percentage is a measure used to describe what proportion of the Company’s holdings differ from the benchmark index holdings. be lowered to 86 cents. This was due to an increase in working capital, and cash needed to fund the takeover of OZ Minerals. It also said that the cost of mining coal and iron ore had increased, albeit offset partly by higher market prices for iron ore. Third quarter results from Rio Tinto were good with volumes up 20% year-on-year, although the absence of further price increases disappointed the market. Investors remain concerned about increasing supply-side capacity. In the real estate sector, CapitaLand India Trust (CLINT) agreed to buy an IT park in Bangalore through a forward purchase arrangement. It will provide funding towards the development of the project, which includes two buildings with a net leasable area of 1.5 million square feet. To give an idea of the potential boost to dividends the company said that if it had completed the acquisition on 1 January 2021 and held the interest in building through to 31 December 2021, that would have yielded expected dividends of 7.84 cents after the acquisition. In key portfolio activity, we introduced two new stocks. Telstra is the leading telecommunications carrier in Australia, providing a full suite of voice, mobile, data and internet products as well as pay-TV services. The company also has an attractive dividend yield. Autohome is the main online destination for automobile consumers in China. It delivers comprehensive, independent and interactive content to automobile buyers and owners. The core business benefits from the powerful network effect of a classifieds business. Outlook China remains pivotal to Asia’s economic recovery, and, with China’s fasterthan-expected reopening, we think this bodes well for the region’s prospects in 2023. China seems to be achieving herd immunity fast, and we are seeing economic activity gain traction. The recovery is being led by greater demand for services, but we also hope to see a recovery in durable goods consumption, which will support China’s economy. The central government remains focused on supporting economic growth. The property market remains weak, but policy support is growing, and, without ‘zero-Covid to see sales recover gradually this year. Meanwhile, China’s reopening could boost tourism revenues in ASEAN particularly, given the significant contribution of Chinese tourists’ dollars to these economies. Many economies, particularly those in South-East Asia, are still bouncing back after their post-Covid-19 reopening, which should support earnings growth. In Singapore, we see resilient conditions and a sustained re-opening underpinning domestic demand and corporate earnings, albeit accompanied by rising price pressures and interest rates. Meanwhile, valuations remain attractive. Against this backdrop, we have positioned the portfolio to weather near-term risks, while keeping in mind longterm secular trends across Asia. Our focus remains on quality companies with sustainable business models, strong cash flows and access to structural growth drivers across Asia, as these support growth in both capital and shareholder return. We continue to favour fundamental themes like consumption, technology and green energy, which we believe will deliver good dividends for shareholders over the long run. |
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