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 18-Sep-2014

Ord
Price438.00p
NAV504.88p
Prem/-Disc-13.25%
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 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

July 2014

Market review

Thai equities rose in July on greater political stability and signs of recovery in some areas of the economy.

The junta proposed an interim charter to legitimise its role in governing the country, while also granting the regime amnesty. A law-making body has been established, which will assume the role of parliament, with membership dominated by the military.

The administration also approved the 2015 budget, with 450 billion baht allocated for infrastructure spending. The reduced value-added tax of 7% was also extended for another year.

Exports rose in June, for the first time in four months. Tourism also improved slightly on the previous month, though remains sluggish. However, household debt rose to a record high.

Portfolio Review

There were no significant portfolio changes in July.

Siam Commercial Bank (SCB) and Kasikornbank (KBANK) posted good second-quarter results; SCB’s new mortgages are expected to grow by 7.5% this year, compared with an 11% decline in 2013, while higher loans and fee income boosted KBANK’s bottom line. Furthermore, asset quality at both banks remained resilient, thanks to their diversified loan portfolios.

Meanwhile, smaller institutions, particularly those specialising in auto financing, faced tougher conditions. Tisco Financial Group’s second-quarter profits fell 14% year-onyear, due to losses from repossessed cars and higher non-performing hire-purchase loans. Similarly, Kiatnakin Bank suffered a 51% profit decline as a result of auto-loan losses. That said, as the effects of the first car scheme fade and the economy gradually improves, auto-industry fundamentals should recover.

L.P.N. Development continued to enjoy healthy pre-sales for its new Lumpini Park project and expects the momentum to carry on in the second half, with numerous project launches planned.

Signs of improvement in the healthcare business and medical tourism helped Bangkok Dusit Medical Services maintain its growth target of 11% for the full year.

Outlook

It’s still largely business as usual in Thailand. The military junta has cemented its place at the apex of political power, safeguarding stability for now. We still expect democratic elections in late 2015, though no date has been set. Meanwhile, work has also begun to set the economy’s wheels in motion, including earmarking significant funds to revive stalled infrastructure investment. With that in mind, we believe the economy should steadily improve over coming quarters, which should boost demand and help lift corporate earnings.


Source: Monthly Factsheet Aberdeen Asset Managers Limited