Aberdeen New Thai Investment Trust PLC
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Investor Warning

Please be aware of scams that can affect investors.

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NMPI Status

The Company currently conducts its affairs so that securities issued by Aberdeen New Thai Investment Trust PLC can be recommended by financial advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream Pooled investment products (NMPIs) and intends to continue to do so for the foreseeable future.

The Company’s securities are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are securities in an investment trust.

 
 

Morningstar Ratings

Analyst Rating

Morningstar bronze award

Fund Rating

4 star Rating
 
 

Risk Warning

The value of investments and the income from them may go down as well as up and investors may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Please refer to the Key Facts documents contained in the ISA/Share Plan Brochure & Application form for general and specific investment risks attaching to the individual trusts.

Read the detailed Risk Warning
 

Past Performance

Past performance is not a guide to future results.
See latest monthly factsheet below for performance history.

 
 

Daily Data

At close 22-Apr-2014

Ord
Price383.50p
NAV445.63p
Prem/-Disc-13.94%
Net Dividend Yield1.83%


Source: Morningstar, NAV = Net Asset Value, excluding income.

† Basis of calculation for Net Asset Value Beginning in mid-January 2007, the onshore and offshore currency rates for the Thai Baht diverged following the introduction of exchange controls in Thailand on 18 December 2006. With effect from 23 March 2007, this divergence had reached a material level such that the Trust opted to calculate and publish subsequent daily net asset values using the onshore Thai Baht rate to value Baht-denominated assets. This replaces the offshore rate used historically.

 
 
 
 
 

Trust Details

Aberdeen New Thai Investment Trust PLC

Registered Office:
Bow Bells House,
1 Bread Street
London
EC4M 9HH

Registered in England and Wales as an Investment Company Number 02448580

 

Aberdeen New Thai Investment Trust PLC

Objective

To provide shareholders with a high level of long-term, above-average capital growth through investment in Thailand.

 

Aberdeen New Thai Investment Trust PLC Half Yearly Report for the six months ended 31 August 2013
Orsen Karnburisudthi, Senior Investment Manager

In this webcast, Orsen Karnburisudthi gives an update on a wide range of subjects including performance, a sector breakdown, the twenty largest investments and an outlook for the Trust.

Click here to listen to the presentation.

 
 

Investing in a balanced Asian economy

October 2013


 

 

Manager's Monthly Report

February 2014

Market review

Thai stocks rose in February in tandem with regional markets, despite increasing tensions on the political front and lacklustre fourth-quarter GDP growth that edged 0.6% higher from the previous year.

Exports fell in January and consumer confidence slid to its lowest level in two years, reflected in the 46% year-on-year drop in car sales. Meanwhile, even the previously resilient tourist industry has begun to suffer from protracted political unrest; the Tourism Authority estimates the industry could lose US$2.7 billion in revenue over the next six months if the turmoil continues.

Portfolio Review

There were no significant changes to the portfolio in February.

Fourth-quarter earnings season dominated corporate news, with results proving mixed. BEC World’s income was up on rate hikes, while Big C Supercenter posted unexpectedly high profits, underpinned by improved margins and new stores, even as same-store sales declined.

Healthy sales and good cost controls boosted Hana Microelectronics’ performance. The adverse effects of the 2011 floods, which decimated one of Hana’s main factories, are now well behind it and the company should benefit from an uptick in global demand for electronics this year.

Central Pattana posted robust profits on the back of decent rental income and growth in new malls. Customer traffic improved at all of its malls except CentralWorld Shopping Plaza, which was hampered by ongoing protests.

Conversely, Siam City Cement’s results were weak due to higher expenses, maintenance shutdowns and a one-off loss. Our utilities holdings, including Ratchaburi Electricity, Electricity Generating and Eastern Water Resources, all reported softer earnings. Both electricity companies suffered waning demand and maintenance shutdowns, while seasonal rains provided an abundant alternative for Eastern Water’s customers.

Outlook

Tensions in Thailand’s drawn-out political saga dissipated slightly when anti-government protestors withdrew from Bangkok’s streets and regrouped at one site. This should help tourism and hopefully quell escalating violence. Demonstrators have simply changed tack though, focusing on disrupting government ministries and boycotting any business with a whiff of Shinawatra ownership. A number of companies have taken a share price hit and lost customers, including our holding, Advanced Info Service (AIS), despite Thaksin Shinawatra having sold the business in 2006. While we acknowledge there could be short-term distaste for AIS, we remain confident in its fundamentals and longer-term prospects.


Source: Monthly Factsheet Aberdeen Asset Managers Limited