Aberdeen New Thai Investment Trust PLC

Selecting quality companies from the dynamic Thai market

Daily prices as of 17 Sep 2021

Share Price 441.00p

Estimated NAV cum income 484.68p

Estimated NAV ex income 474.86p

Dividend Yield 4.3%

Premium / (Discount) to NAV cum income -9.0%

Premium / (Discount) to NAV ex income -7.1%

Latest news

Proposals for the Reconstruction and Voluntary Winding-up of the Company

The Board is pleased to announce a proposal for the reconstruction and voluntary winding-up of the Company, a partial cash exit opportunity and a rollover into Aberdeen Emerging Markets Investment Company which, following its own extensive review process, is adopting an investment policy of investing directly in the equities of Chinese companies.

Key benefits of the Proposals:

- Exposure to investing directly in Chinese equities, which the Board sees as underserved despite China being the world’s second largest economy;
- Access to the highly successful Aberdeen Standard Investments equities team specialising in China, locally based in Shanghai and Hong Kong, supported by the team in Singapore;
- Combination with Aberdeen Emerging Markets Investment Company to help improve liquidity and reduce fixed costs per share and;
- Partial cash exit opportunity to provide shareholders the ability to realise part (or potentially all) of their investment.

For full details, please find a link to the announcement below.

About us

Quality companies: for us, a high quality company is one with a strong competitive position, robust financial characteristics and an experienced management team. We look for stocks that are attractively valued with healthy dividend yields.

Long-term resilience: we believe our portfolio of companies can demonstrate resilience in the context of the complicated Thai political situation. We are fortunate to have excellent access to company management and an experienced team based on the ground in Thailand to help with this analysis.

Excellent regional prospects: many of Thailand's companies have a wider regional exposure, trading increasingly with, and investing in, nearby fast-growing countries like Cambodia, Laos, Myanmar and Vietnam. Thailand's position as a regional hub gives sufficient diversity, but often less vulnerability to global dislocations.

Key people

Orsen Karnburisudthi

Orsen Karnburisudthi

Investment Manager

Orsen Karnburisudthi is an investment manager on the Thailand equity team. Orsen joined Aberdeen in 2006 from Kasikornbank PCL, a Thai commercial bank, where he was responsible for coverage of the bank's large corporate accounts. Previously, Orsen worked for Merrill Lynch Investment Managers as an investment analyst covering south-east Asian stocks. Prior to that, Orsen was an equity analyst at SBC Warburg (now UBS Securities) in Bangkok.

Orsen graduated with a BS in Economics from The Wharton School of the University of Pennsylvania, a MBA from Sloan School of Management, Massachusetts Institute of Technology. Orsen is a Chartered Financial Analyst charterholder.

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute

  • Orsen Karnburisudthi

    Orsen Karnburisudthi

    Investment Manager

    Orsen Karnburisudthi is an investment manager on the Thailand equity team. Orsen joined Aberdeen in 2006 from Kasikornbank PCL, a Thai commercial bank, where he was responsible for coverage of the bank's large corporate accounts. Previously, Orsen worked for Merrill Lynch Investment Managers as an investment analyst covering south-east Asian stocks. Prior to that, Orsen was an equity analyst at SBC Warburg (now UBS Securities) in Bangkok.

    Orsen graduated with a BS in Economics from The Wharton School of the University of Pennsylvania, a MBA from Sloan School of Management, Massachusetts Institute of Technology. Orsen is a Chartered Financial Analyst charterholder.

    CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute

Flavia Cheong

Flavia Cheong

Head of Equities - Asia Pacific

Flavia Cheong is the Head of Asia Pacific Equities on the Asian Equities team at Aberdeen Standard Investments, where, as well as sharing responsibility for company research, she oversees regional portfolio construction. Before joining Aberdeen Asset Management in 1996, she was an economist with the Investment Company of the People’s Republic of China, and earlier with the Development Bank of Singapore. Flavia graduated with a BA in Economics and an MA (Hons) in Economics from the University of Auckland. She is a CFA charterholder.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Adrian Lim

Adrian Lim

Investment Director

Adrian Lim is a senior investment manager on the Asia Pacific (ex Japan) equity team. Adrian originally joined Aberdeen in 2000 as a manager in private equity, on the acquisition of Murray Johnstone, but transferred to his current post soon afterwards. Previously, Adrian worked for Arthur Andersen LLP as an associate director advising clients on mergers & acquisitions in the region.

Adrian graduated with a BAcc from Nanyang Technological University, Singapore. He is a CFA Charterholder.

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute

  • Flavia Cheong

    Flavia Cheong

    Head of Equities - Asia Pacific

    Flavia Cheong is the Head of Asia Pacific Equities on the Asian Equities team at Aberdeen Standard Investments, where, as well as sharing responsibility for company research, she oversees regional portfolio construction. Before joining Aberdeen Asset Management in 1996, she was an economist with the Investment Company of the People’s Republic of China, and earlier with the Development Bank of Singapore. Flavia graduated with a BA in Economics and an MA (Hons) in Economics from the University of Auckland. She is a CFA charterholder.

    CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

  • Adrian Lim

    Adrian Lim

    Investment Director

    Adrian Lim is a senior investment manager on the Asia Pacific (ex Japan) equity team. Adrian originally joined Aberdeen in 2000 as a manager in private equity, on the acquisition of Murray Johnstone, but transferred to his current post soon afterwards. Previously, Adrian worked for Arthur Andersen LLP as an associate director advising clients on mergers & acquisitions in the region.

    Adrian graduated with a BAcc from Nanyang Technological University, Singapore. He is a CFA Charterholder.

    CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute

Nicholas Smith

Nicholas Smith

Chairman

Appointed a Director on 1 March 2013 and Chairman on 26 June 2013, Nic joined the Jardine Fleming Group in 1986 in Hong Kong and served from 1993 to 1997 as Chief Financial Officer and as a member of the Executive Committee. After returning to the UK, he became a director of Robert Fleming International Ltd in 1998, and the Director of Origination - Investment Banking, serving until 2000. He is currently a non-executive director of JP Morgan European Smaller Companies Trust plc.
Andy Pomfret

Andy Pomfret

Senior Independent Director and Chairman of the Audit Committee

Andy Pomfret was appointed a Director on 1 September 2014, Chairman of the Audit and Management Engagement Committee on 1 November 2014 and Senior Independent Director on 3 December 2019. He spent over 13 years with Kleinwort Benson as a corporate financier, venture capitalist and finance director of the investment management and private banking division. In 1999 he joined Rathbone Brothers Plc as finance director and served as chief executive from 2004 until 2014. He is currently non-executive chairman of Sabre Insurance Group plc and non-executive chairman of Miton UK Micro Cap Trust plc.
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Anne Gilding

Non-Executive Director

Anne Gilding was appointed a Director 18 October 2019. She is a non-executive director of Momentum Multi-Asset Value Trust plc, a senior adviser to Peregrine Communications, and she has also served a term as a trustee of an educational charity. She has over twenty five years' experience of developing and leading global communications, branding and marketing solutions for a broad range of companies including Impax Asset Management Group plc (where she gained valuable experience of ESG criteria), BMO (formerly F&C), GAM, Vernalis Group plc and UBS.
Sarah Macaulay

Sarah MacAulay

Non-Executive Director

Sarah MacAulay was appointed a Director on 1 January 2017. She is chairman of Schroder Asia Total Return Investment Company plc and JPMorgan Multi-Asset Growth and Income plc. She is also senior independent director on the board of Fidelity Japan Trust. Previously she was a director of Baring Asset Management (Asia) Limited in Hong Kong and Asian Investment Manager at Kleinwort Benson and Eagle Star in London. She has twenty years of Asian investment management experience in London and Hong Kong, managing and marketing investment portfolios across numerous jurisdictions. She is also a trustee of Glendower School Trust, an educational charitable trust.
  • Nicholas Smith

    Nicholas Smith

    Chairman

    Appointed a Director on 1 March 2013 and Chairman on 26 June 2013, Nic joined the Jardine Fleming Group in 1986 in Hong Kong and served from 1993 to 1997 as Chief Financial Officer and as a member of the Executive Committee. After returning to the UK, he became a director of Robert Fleming International Ltd in 1998, and the Director of Origination - Investment Banking, serving until 2000. He is currently a non-executive director of JP Morgan European Smaller Companies Trust plc.
  • Andy Pomfret

    Andy Pomfret

    Senior Independent Director and Chairman of the Audit Committee

    Andy Pomfret was appointed a Director on 1 September 2014, Chairman of the Audit and Management Engagement Committee on 1 November 2014 and Senior Independent Director on 3 December 2019. He spent over 13 years with Kleinwort Benson as a corporate financier, venture capitalist and finance director of the investment management and private banking division. In 1999 he joined Rathbone Brothers Plc as finance director and served as chief executive from 2004 until 2014. He is currently non-executive chairman of Sabre Insurance Group plc and non-executive chairman of Miton UK Micro Cap Trust plc.
  • none

    Anne Gilding

    Non-Executive Director

    Anne Gilding was appointed a Director 18 October 2019. She is a non-executive director of Momentum Multi-Asset Value Trust plc, a senior adviser to Peregrine Communications, and she has also served a term as a trustee of an educational charity. She has over twenty five years' experience of developing and leading global communications, branding and marketing solutions for a broad range of companies including Impax Asset Management Group plc (where she gained valuable experience of ESG criteria), BMO (formerly F&C), GAM, Vernalis Group plc and UBS.
  • Sarah Macaulay

    Sarah MacAulay

    Non-Executive Director

    Sarah MacAulay was appointed a Director on 1 January 2017. She is chairman of Schroder Asia Total Return Investment Company plc and JPMorgan Multi-Asset Growth and Income plc. She is also senior independent director on the board of Fidelity Japan Trust. Previously she was a director of Baring Asset Management (Asia) Limited in Hong Kong and Asian Investment Manager at Kleinwort Benson and Eagle Star in London. She has twenty years of Asian investment management experience in London and Hong Kong, managing and marketing investment portfolios across numerous jurisdictions. She is also a trustee of Glendower School Trust, an educational charitable trust.

Financial calendar

Year End 28 February
Accounts Published May
Annual General Meeting June
Dividend Paid June & November

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

Launch Date: December 1989

Risk Warning
Risk warning
The value of investments and the income from them can go down as well as up and you may get back less than the amount invested. Please refer to the relevant Key Information Document (KID) prior to making an investment decision. Please be aware of scams that can affect investors.