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 21-Jul-2014

Ord
Price413.00p
NAV485.46p
Prem/-Disc-14.93%
Net Dividend Yield1.94%


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

June 2014

Market review

Thai equities rose in June on positive sentiment and a recovery in consumer confidence after the National Council for Peace and Order (NCPO) lifted the nationwide curfew.

Economic signals were less encouraging; rising food and energy prices have put pressure on inflation, while exports declined 2.1% compared to the previous year.

The Bank of Thailand downgraded its 2014 growth forecast to 1.5%. Nevertheless, it seemed confident in an imminent turnaround, upping its projection for 2015 GDP growth to 5.5% from 4.8%.

Portfolio Review

In June, we initiated a position in Bangkok Dusit Medical Services, a domestic-based health care provider with over 30 hospitals in its portfolio. With its solid franchise, Thailand’s competitive edge in providing quality healthcare, and a rapidly ageing population, the company’s long-term outlook is favourable.

Advanced Info Service faltered on the back of heightened regulatory risks and news that China Mobile would buy a stake in rival True Corporation, intensifying competition in the sector.

Electricity Generating (EGCO) will acquire a 41% stake in Masinloc Power Partners, which runs a coal-fired power plant in the Philippines. The move corresponds with the company’s regional expansion plans, at an attractive purchase price.

Thai Reinsurance announced a capital increase of 2.1 billion baht to settle its last batch of flood claims, resulting in around 17% dilution for shareholders. The move was no surprise to the market. Separately, the insurer might reduce its stake in Thaire Life Assurance. Meanwhile, Bangkok Dusit Medical Service’s plan to grow its portfolio to 50 hospitals by the end of 2015 required a small capital increase, via 10 billion baht convertible debentures.

LPN Development’s presales jumped in May on revived consumer confidence. However, sewage problems at its Township Rangsit project will delay necessary environmental permits by up to six months.

Outlook

Thailand’s equity markets have been remarkably resilient this year, despite the political turmoil. Meanwhile, the order imposed by the military leadership, plus its apparent commitment to reviving the tepid economy, has further buoyed sentiment. For now, the risk is that company valuations will outpace fundamentals, particularly in light of the challenging economic conditions. As such, there could be more periods of volatility ahead.


Source: Monthly Factsheet Aberdeen Asset Managers Limited