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.

 

Pre-investment Disclosure Document (PIDD)

The Alternative Investment Fund Manager Directive (“AIFMD”) requires Aberdeen Fund Managers Limited, as the alternative investment fund manager of Aberdeen New Thai Investment Trust PLC, to make available to investors certain information prior to such investors’ investment in the Company.

The AIFMD is intended to offer increased protection to investors in investment products that do not fall under the existing European Union regime for regulation of investment products known as “UCITS”.

Read the PIDD for Aberdeen New Thai 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 26-Nov-2014

Ord
Price447.00p
NAV515.29p
Prem/-Disc-13.25%
Net Dividend Yield1.79%


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 2014
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.

 

 

Manager's Monthly Report

October 2014

Market review

Thai equities were flat in October, bringing to an end the eight-month rally that had been driven mainly by relief at the return of relative stability after months of political turmoil. Economic signals were largely disheartening. Consumer confidence dropped for the first time since May’s coup, while auto production slid further in September. The government responded with a 364.5 billion baht stimulus package, including subsidies for rice and rubber farmers.

On the other hand, September exports were surprisingly robust, rising by 3.2% compared to the previous year, while imports accelerated by 14.4%. This was of little comfort to government forecasters, who lowered their expectations for economic growth from 2% to 1.4%.

Portfolio Review

There were no significant portfolio changes in October. Results were mixed. Large banks were resilient: Kasikornbank and Siam Commercial Bank both reported good profit growth. However, conditions remained challenging for smaller banks. Tisco Financial and Kiatnakin Bank came under particular pressure from their exposure to the sluggish auto sector.

PTT Exploration and Production’s US dollar profits declined 23% year-on-year, mainly due to write-offs on Australasian and Kenyan projects. However, the recently announced petroleum concession bidding should prove beneficial given it is Thailand’s sole exploration and production firm. Siam City Cement also suffered flagging profits on higher costs and lower non-core income, despite better sales.

The lure of neighbouring markets appears to have taken hold among many Thai companies. Ratchaburi Electricity Generating and its partners plan to develop three coal-fired power plant projects in Myanmar, while Bumrungrad Hospital aims to open more referral offices in Myanmar, Cambodia and Indonesia in an effort to meet next year’s 10% revenue growth target. Meanwhile, Bangkok Dusit Medical Services has partnered with a US-based academic hospital to improve healthcare quality, while it is also investigating opportunities in Myanmar and Laos.

Outlook

Anxieties over Thailand’s fragile economy might finally have caught up with equities. Investors could continue to feel discouraged by lacklustre consumption and recurrent downgrades to growth expectations. This means market gains in the short-term could be limited, particularly given the impressive returns over the last few months. That said, the government seems eager to remedy the malaise by spending its way out. Its most recent stimulus measures, alongside the accelerated budget disbursement, should set some wheels in motion. However, infrastructure investment will be the key to a more sustainable recovery over the longer-term.


Source: Monthly Factsheet Aberdeen Asset Managers Limited