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ADIG Abrdn Diversified Income And Growth Plc

76.40
0.20 (0.26%)
Last Updated: 09:49:09
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
  0.20 0.26% 76.40 75.60 79.40 79.60 76.40 79.60 147,276 09:49:09
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 3.49M -299k -0.0010 -764.00 236.21M
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 £236.21 million. Abrdn Diversified Income... has a price to earnings ratio (PE ratio) of -764.00.

Abrdn Diversified Income... Share Discussion Threads

Showing 201 to 223 of 750 messages
Chat Pages: Latest  18  17  16  15  14  13  12  11  10  9  8  7  Older
DateSubjectAuthorDiscuss
10/11/2021
17:46
The latest factsheet.
hugepants
22/10/2021
16:00
I bought in yesterday. I'm happy with the risk/reward here and I tend to buy trusts like this with a view to holding for a long time simply for the dividend.
rcturner2
22/10/2021
15:42
I've sold out over the last couple of days.

I can't actually give a good reason other than the market generally feels a bit high and is making me feel excessively nervous. Additionally the rise in yield is nagging away at me too.

GLA. I honestly think the discount to NAV should be lower but it's had a very long time to adjust and it just isn't happenning.

cc2014
22/9/2021
08:13
In case anyone missed it...

Third Interim Dividend -

The Board of Aberdeen Diversified Income and Growth Trust plc (the "Company") announces that it is declaring a third interim dividend in respect of the year to 30 September 2021 of 1.38 pence per share on the Ordinary shares of the Company in relation to the quarter ended 30 June 2021.

The third interim dividend will be paid on 28 October 2021 to shareholders on the register on 1 October 2021. The ex-dividend date is 30 September 2021...

speedsgh
22/9/2021
07:46
101 bid ... now that is a sight for sore eyes
scallywagkid
17/9/2021
10:11
The NAV makes 122p which is nice.
cc2014
17/9/2021
08:15
yes announced 1Sept.xd24Sept.The latest divi. to be paid was announced 10June xd 17June.
krowelet
15/9/2021
12:45
Q3 dividend announcement due. It was beginning of sept last year.
hugepants
14/9/2021
16:14
Would be good to pass and hold on to 100p. We just don't seem to be able to firm up at that level.
rich1952
14/9/2021
12:17
Latest portfolio holdings out for August. Looks like TF ABS fund trimmed again from 7.4% to around 6.7%
cc2014
07/9/2021
17:11
ABS investments in TF will include a large proportion of FRN's...useful should interest rates rise
8w
07/9/2021
12:44
I've done a bit of work on this and think it could be a buy. Looks like the NAV did very badly in autumn 2018 but this should shortly drop out of the 3y numbers - optically this will make performance look better and should help.

From what I can tell the main thing that weighed on earlier returns was the big position in catastrophe insurance linked instruments, and the excessive and expensive gearing. Neither of these should be an issue going forward and of course we have a new manager.

The other thing that hasn't helped is they have been very slow establishing the positions in the private real asset funds - it takes quite a long time for these things to get invested and start to produce returns. The good news is these now seem to be up and running and should do well hopefully.

Regarding the ABS investments, I am pretty relaxed about these as I believe they are mainly senior tranches on very comfortable LTVs so very low risk (would probably need a 30% fall in house prices for these to be at risk).

riverman77
07/9/2021
12:25
NAV now 121.54.

Market can remain irrational longer than I can remain patient.

I'm hold on for the moment though.

cc2014
03/9/2021
11:24
The NAV continues to increase but the discount to NAV is growing resulting in the share price clawing it's way up. Plenty of buyers but some very determined sellers and 100p seems to be a barrier for the moment.


I have just taken a look at the July factsheet and I'd delighted to see they have trimmed the Twenty Four Asset Backed Opportunties Fund (mostly Residential MBS and CLO I think) from 8.0% to 7.4% compared with June.

I like this move as I perceive this market to be near a high and ADIG have done well from it over the last year. It would be great if they sold the whole lot and used the cash to buy back more shares.

cc2014
23/8/2021
14:56
Spec, wish I had bought some NSI, looked at that so many times as well,
but the % spread out me off - in other words excuse making!.

When working in sales many moons ago missed my first ever monthly target and attempted
to offer an explanation to my then manager - he replied ..excuses, bullsh1t, reasons!!.
Never missed another one.

My area area at the time was the wife of a Michael Page main board director,
remember her telling me you could put your house on this, that was circa 1993,
the share price was 76 pence from memory.

essentialinvestor
23/8/2021
08:35
Investment objective (effective from AGM date of 23 February 2021)
The Company seeks to provide income and capital appreciation over the long term
through investment in a globally diversified multi-asset portfolio.

Performance measure
NAV total return (defined as change in NAV plus dividends reinvested) of 6% per annum
over a rolling five year period.

cc2014
23/8/2021
08:09
Spec, thanks for the view and happen to share your circumspection.

I keep ADIG on a watchlist and get the 99% of the market being priced for perfection rational.

essentialinvestor
23/8/2021
05:52
Thanks @HP - valid points, CLO exposure isn't huge, but the key point to me is it's there, and how many realise it's there. I'd say same for high-yield bonds/EM bonds.

Something else you've said and so have I - a number of the funds have cash weightings. ADIG are paying fees on holdings partly in cash, and you're paying ADIG's on top. Which circles round to wondering how sustainable and consistent the 6% target is, when not fully invested.

Again, portfolio feels like generally risky (with lots of it, to give the illusory comfort of diversification) coupled with some very low risk. But you can make that yourself, and know what's in (tho not at 18% discount). I just don't buy that ADIG is a fairly certain earner.

(HL thinks 5% geared btw - not much, & may be wrong, vs the indirectly held cash).

@EI - indeed. Perhaps because the super-low interest rate trade has partially run its course, unless we're going lower than 0.1%. Eg renewables sector.

Not anti-ADIG, but think the hugely spread portfolio is largely spread across the same risk (likely interest rate risk), whilst masquerading as low risk and diversified. The judgement is whether the discount compensates, but the manager's confidence that it'll go to par seems unwarranted.

spectoacc
22/8/2021
22:35
Why has NAV growth been so stagnant over the last 12 months when current conditions

could not be more supportive across multiple asset classes.


An approx 2% NAV gain over August 2020 levels.

essentialinvestor
22/8/2021
22:01
After reading some of the above posts I had to double check I hadn't invested in some dodgy loan fund lol. This is a multi-asset trust and at the last fact sheet date (end June 2021) the portfolio split was;

Private Markets 41.9% (infrastructure, private equity, real estate etc)
Fixed Income and Credit 27.8% (bonds, loans etc)
Listed Alternatives 20.9% (listed stuff like bpcr, supr, resi, prsr, ukw etc)
Equities 10.9%
Net Cash -1.5%

Whatever clos they own will be included in Fixed Income & Credit which includes stuff like TwentyFour Asset Backed Fund, Neuberger CLO fund (4.5% of the folio). They also have some emerging market bonds. TwentyFour fund is the largest investment at 9% of the folio. fyi it comprises 63% bonds, 26% cash and 11% other. So it may include some clos in "other". Total exposure to clos is obviously low versus the total NAV though.


The plan going forwards is to increase exposure to private markets to 50% and reduce the others

Personally I'm happier holding something like ADIG (which is also ungeared) than a common garden equity trust just now. Most equity trusts seem to have fully recovered to pre-pandemic levels. Some are much higher.

hugepants
20/8/2021
14:45
Ha ha thanks both. Not sure how I've not ploughed through ADIG before.

Been out, back to finish the de Silva presentation:


Likens ADIG to RIT & SMT - he should be so lucky.

"Should be trading close to par in a couple of years".

"Stable and consistent private markets portfolio".

"£80bn of assets under management [the group] and can drive costs down".

Currency hedged back to Sterling, a cost risk in itself (as shown by those caught out by margin requirements).


Grudgingly like him but fear he's wrong - strategy seems scattergun, and mostly taking on similar sorts of risk. Which isn't to say it won't do well, but basically "Buy everything esoteric that promises a high yield, and consider yourself diversified because you've bought so much of it".

If the choice was money in the bank at less than 1%, or ADIG on a big discount yielding 5.5%, you'd probably punt ADIG.

But seems too much difficult-to-quantify risk to me, even beyond opaque CLOs. I'm still not entirely sure what it holds, particularly within the funds. Again, wonder how many holders had an idea of the CLO side.

I think they'll consistently pay the dividend, but his "longer term capital gains" may be anything but, and hence the discount remain. He's optimistic on the income covering the divi soon - and could well be right - but we've seen with a lot of the renewable ITs what can happen to capital values.

Struggling to reach a conclusion - "not bad, not for me (at the moment)" I think. Good luck holders :)

Does at least have scale, & will look again on dips, or change opinion on a dime.

spectoacc
20/8/2021
12:27
My post is in jest Tiltonbuy. I thought a bit of humour would brighten up the day.
cc2014
20/8/2021
12:18
CC2014,

Specto is by no means a stranger to trusts, and the only surprising thing is that he hasn't been on this door step before. We don't always agree on the merits of certain funds, but I take his views very seriously.

tiltonboy
Chat Pages: Latest  18  17  16  15  14  13  12  11  10  9  8  7  Older

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