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 29-Jan-2015

Ord
Price468.00p
NAV535.59p
Prem/-Disc-12.62%
Net Dividend Yield1.71%


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

December 2014

Market review

Thai equities fell sharply in a volatile month for global markets. Oil’s downward spiral, coupled with concerns over a wobbly China, plagued risk appetites.

The domestic economy continued to disappoint. Falling exports, depressed advertising spending, and subdued inflation diverted attention from the more encouraging pick-up in November tourist arrivals.

The Bank of Thailand (BoT) kept interest rates on hold and once again lowered its GDP growth forecast for both 2014 and 2015, to 0.8% and 4.0% respectively, on an uninspiring outlook for exports and domestic activity.

Portfolio Review

There were no major portfolio changes in December.

PTT Exploration and Production faced pressure from plunging oil prices, which could force it to write-off some assets acquired over the past five years. That said, the majority of the company’s resources are gas-based, where pricing should be more resilient. Meanwhile, it announced investment plans of US$24.3 billion over the next five years and expects production to grow by 6% this year.

Conversely, lower energy prices should reduce costs for holdings such as Dynasty Ceramic and Siam Cement. Separately, Siam Cement will acquire Norwegian chemical-research company Norner Holding for 340 million baht, and a 90% stake in Indonesian packaging manufacturer Indoris Printingdo for 290 million baht.

Kiatnakin Bank has entered a 15-year, exclusive partnership with Generali Life Assurance Thailand to distribute life-insurance products primarily to high-net-worth individuals. Meanwhile, AEON Thana Sinsap’s third-quarter performance was weak, despite growth in net interest income, with profits falling 11% year-on-year, due to an increase in provisions.

Outlook

Thailand’s economy is unlikely to make a spectacular recovery over the short-term. Waning exports, sluggish consumption and business spending, and an unenticing environment for foreign direct investment could continue to weigh on growth. That said, a sustained recovery in tourism, prolonged low oil prices, and a pick-up in government investment should help the economy improve on 2014’s tepid performance at least. Meanwhile, recent market volatility could continue for a period, as uncertainty over the world economy plays on global investor nerves. However, domestic support for equities should provide a buffer against external shocks, particularly if the BoT boosts liquidity with an interest rate cut.


Source: Monthly Factsheet Aberdeen Asset Managers Limited