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ADIG Abrdn Diversified Income And Growth Plc

3.40 (4.46%)
Last Updated: 08:00:22
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Abrdn Diversified Income And Growth Plc LSE:ADIG London Ordinary Share GB0001297562 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  3.40 4.46% 79.60 76.40 79.40 79.60 79.60 79.60 31,898 08:00:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 3.49M -299k -0.0010 -796.00 246.11M
Abrdn Diversified Income And Growth Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker ADIG. The last closing price for Abrdn Diversified Income... was 76.20p. Over the last year, Abrdn Diversified Income... shares have traded in a share price range of 72.40p to 89.80p.

Abrdn Diversified Income... currently has 309,177,359 shares in issue. The market capitalisation of Abrdn Diversified Income... is £246.11 million. Abrdn Diversified Income... has a price to earnings ratio (PE ratio) of -796.00.

Abrdn Diversified Income... Share Discussion Threads

Showing 151 to 175 of 750 messages
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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.

The % discount is more than warranted imv.

If they can fulfill their performance mandate then things may begin to
look a little different.

How many does De Silva hold...

I'm a believer in watch what they do, not what they say.

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!

NAV still trending north here at 117.2p. Yield 5.75%. Discount still 18%-19% though but it will close at some point.
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...

£4.03 bid for John Laing Group. It was a £4.6m position for ADIG at the end of April
Playback of this week's QuotedData presentation by Nalaka de Silva is available here -
No real plans to narrow discount. Very limited returns projected to Dec 2024. 6% or less p.a. Can't see this moving anytime soon. Quite disappointed with the manager who seemed very self-confident yet couldn't really answer where his 6% return on NAV will be coming from.
Hurrah - managed to get in just in time.

How do I attend this event. I registered yesterday, the software said my registration had been sent to the meeting organiser but I have no email giving me a link to attend.

Even clicking on current events does not help me!


Re 152.
I get a similar screen for anything I buy in my SIPP, where I think it may be a legal requirement.
I think that the information comes from the KID/KIID, but I've never found it particularly useful.
The information includes dealing costs and internals.
HP has obviously done the research that we should all have done on ADIG.

colonel a
I think this is a fund of funds kind of trust that means compounded charges, which I dislike, especially if the funds in their portfolio are unit trusts and etfs. If they are close-ended trusts on discount, you may get compounded discounts which if big enough may make the double charges more bearable.
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.
Nobody is exempt from paying the annual management fees, they are deducted from the NAV as they accrue.
Bought just before the close this afternoon, there was not a screen of extra charges just the usual price paid, stamp duty and commission exactly like any other stock.

I have never found any difference between buying inv.trusts and any any other share and always assumed the charges were reflected in the running costs of the trust.

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.

For those existing/prospective shareholders that have lingering questions/doubts over ADIG and its performance/strategy, the QuotedData Specialist Income webinar tomorrow (Weds 12 May) would be the perfect opportunity to find out more. Nalaka de Silva (portfolio manager and chair of the ADIG Investment Committee) is presenting for approx 40mins from 10:10 and those registered can submit questions in advance via email (and possibly online during the webinar?).
gp, point taken.
Explains the constant tap
I regard it as a useful source of income EssentialInvestor but I don't have much invested in it.
I've sold out of HDIV so looking for opportunities,
but ADIG still looks moribund, perhaps a play on a possible wind up vote.

Schroders have sold 5%. Still 5% to go.
Timing is very difficult to get right. I did manage it on Feb 27 last year but by then it was pretty obvious markets were going down. But although most of the stocks I held dropped between 15 and 50% not all did and I haven't bothered to calculate the counterfactual. I know I would have doubled my money with one of the small tech companies had I held it.
Agree. I don't think there are many investment trusts that look cheap now but I think this is probably one of them. Nav=115.25p and yield=5.7%.
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.

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