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-Feb-2015

Ord
Price458.25p
NAV532.32p
Prem/-Disc-13.91%
Net Dividend Yield1.75%


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.

 
 
 
 
 

Portfolio Holdings Disclaimer

Holdings are subject to change at any time. Holdings should not be relied upon in making investment decisions and should not be construed as research or investment advice regarding specific securities. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or in part.

 
 

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

January 2015

Market review

Thai equities rose in January, alongside regional peers, as the surprisingly generous terms of the European Central Bank’s (ECB’s) quantitative easing programme buoyed sentiment. Former premier Yingluck Shinawatra was impeached over the controversial rice-pledging scheme and banned from politics for five years, with criminal charges possible. This will undoubtedly rile her supporters; however, martial law should quell any unrest. Consumer prices contracted in January compared to the previous year, while exports fell 0.4% in 2014. Economic growth expectations for 2015 were revised down to 3.9%.

Portfolio Review

There were no major portfolio changes in January.

Large banks were resilient in the fourth quarter; Siam Commercial Bank and Kasikornbank’s profits rose 4% and 5% respectively, on improved net interest and fee income. However, smaller banks came under pressure from the sluggish economy and the residual effects of the first-car buyer scheme. Kiatnakin Bank’s profits were down 53% year-on-year, as unusually high provisions overshadowed decent earnings growth. Higher provisions also weighed on Tisco Financial Group’s full-year results, although fourth-quarter performance was better than expected.

Siam Cement’s fourth-quarter profits rose by 11% year-on-year, driven by good demand for chemicals. Separately, the company will sell its 10% stake in Michelin Siam Group, one of Thailand’s largest tyre manufacturers, to parent Michelin Group (France), resulting in a one-off, after tax gain of 1.6 billion baht.

PTT Exploration and Production suffered a sizeable fall in fourth-quarter earnings, largely due to a US$997 million impairment charge on its Montara and oil sands projects. This was no surprise, given the plunge in oil prices. However, full-year sales were up by 10% and its balance sheet remains robust. Meanwhile, the company is on the lookout for attractive acquisition opportunities.

Outlook

Investors have shown scant regard for Thailand’s listless economy over recent months, with January no exception. Equities powered ahead on anticipation that emerging markets might also benefit from the ECB’s largesse. Meanwhile, net oil importers continued to gain from flagging global commodity prices; this is certainly good for Thailand, given it spends close to 10% of GDP on energy imports. Its current account surplus should widen markedly, which is reassuring for the baht if regional currencies come under pressure from US monetary tightening. That aside, if the growth outlook continues to disappoint - forecasts for 2015 GDP have already been cut - investors may be compelled to ‘take stock’.


Source: Monthly Factsheet Aberdeen Asset Managers Limited