Aberdeen New Dawn – Market setback creates opportunities Aberdeen New Dawn (ABD) has been using recent falls in Asian markets to reduce its underweight exposure to China (Chinese stocks dominate ABD’s benchmark). The manager has become more comfortable with the Chinese market (see page 13) and has demonstrated its ability to pick stocks, delivering strong outperformance from its open-ended fund focused on the China A share market; this fund forms part of ABD’s portfolio (see page 9).
In recent years, ABD’s performance relative both to its peer group and its benchmark has stabilised. The manager is determined to improve on this and believes the portfolio’s focus on quality and value will be rewarded.
Capital growth from Asia Pacific ex Japan
ABD aims to provide shareholders with a high level of capital growth through equity investment in the Asia Pacific countries excluding Japan. ABD holds a diversified portfolio of securities in quoted companies spread across a range of industries and economies. ABD is benchmarked against the MSCI All Countries Asia Pacific ex Japan Index (in sterling terms).
The manager is Aberdeen Fund Managers Limited which has delegated the investment management of the company to Aberdeen Asset Management Asia Limited (Aberdeen or the manager). Both companies are wholly owned subsidiaries of Standard Life Aberdeen Plc. At the end of December 2017, Standard Life Aberdeen’s Asia Pacific equities business had assets under management (AUM) of $37.4bn, of which the large cap, Asia Pacific ex Japan strategy (that ABD forms a part of) accounted for $14.7bn.
Aberdeen New Dawn – Market setback creates opportunities : ABD