Aberdeen New Thai Investment Trust PLC
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Investor Warning

Please be aware of scams that can affect investors.

Read our investor warning

 

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 29-Oct-2014

Ord
Price445.00p
NAV504.53p
Prem/-Disc-11.80%
Net Dividend Yield1.80%


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 Annual Report for the Year Ended 28 February 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

September 2014

Market review

Thai equities were resilient again in September in local currency terms, despite disappointing economic news.

Exports missed expectations in August, declining 7.4% year-on-year. The automotive sector remained soft, with production and domestic sales dropping significantly.

As expected, the Bank of Thailand kept interest rates on hold. It lowered its forecast for next year’s economic growth to 4.8% from 5.5%, due to expectations of lacklustre exports and a muted recovery for tourism.

The government plans to accelerate budget spending in the fourth quarter to kickstart the economy.

Portfolio Review

There were no significant portfolio changes in September.

PTT Exploration and Production (PTTEP) will acquire a 20% stake in a Brazilian offshore oil block from Shell at an undisclosed price. The risks appear acceptable, with the project already at the exploration stage and led by Petrobras, which holds a 65% stake. PTTEP will also spend US$3.3 billion on seven such projects in Myanmar.

BEC World was granted a temporary extension for the continued broadcast of its analogue channel, given the impasse with the Thai broadcasting regulator NBTC. As a compromise, NBTC offered to waive the 4% revenue-sharing fee. However, BEC wanted confirmation that no laws would be broken if its Channel 3 analogue content was broadcast via a licensed digital TV station.

The court ruling ordering Banpu to pay US$1 billion in damages to its former partners in a case linked to the Hongsa power plant in Laos was overturned on appeal. This is positive for Banpu, whose shares have been under pressure from the seven-year old lawsuit. However, it is likely the plaintiffs will now take the case to the Supreme Court.

Bangkok Dusit Medical Services will invest 6 billion baht from its successful bond offering in six new buildings at its flagship hospital, increasing total bed capacity by around 5%.

Outlook

The buoyant Thai equity market appears at odds with an economy that cannot quite get on its feet. Optimism over better private and business spending and benign inflation have been overshadowed by a slump in crucial exports and sluggish tourist arrivals. Meanwhile, the extended rally in share prices means there is considerable potential for volatility ahead. That said, the government’s 100 billion baht stimulus package, and accelerated distribution of the 2015 budget, should inject some life into the economy and, consequently, company bottom lines.


Source: Monthly Factsheet Aberdeen Asset Managers Limited