23rd Oct 2014 10:53
LONDON (Alliance News) - Aberdeen Asian Smaller Companies Investment Trust PLC's manager Thursday said its holdings have delivered results in line with its forecasts, and it expects their earnings outlook to remain "decent" over the longer term.
"Although valuations of smaller Asian companies may be more expensive compared to their large cap counterparts, we prefer to focus on our holdings' fundamentals instead. It is worth highlighting that our holdings have a lower gearing as compared to the index, while return on equity levels are higher than those of the index. As such, we remain disciplined in our investment approach, focusing on solid companies that can withstand volatile market cycles," Aberdeen Asset Management Asia Ltd said in a statement.
The trust was reporting results for the year ended July 31.
Aberdeen Asian Smaller Companies shares were Thursday quoted up 0.1% at 961.26 pence.
Financial Highlights
| 2014 | 2013 |
Share price total return | -4.2% | +36.7% |
Net asset value capital return (diluted) | -4.1% | +33.0% |
Net asset value total return (diluted) | -2.7% | +35.0% |
Earnings per share (revenue) | 11.4p | 13.8p |
Ordinary dividend per share{A} | 10.00p | 10.00p |
Special dividend per share{A} | 3.00p | 3.00p |
{A} Dividends are subject to shareholder approval at the Annual General Meeting. | ||
Performance (total return) |
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| 1 year | 3 year | 5 year | 10 year | Since |
| % return | % return | % return | % return | inception |
Share price | -4.2 | +47.4 | +240.1 | +584.6 | +1260.2 |
Net asset value per Ordinary share - diluted | -2.7 | +45.8 | +189.2 | +534.9 | +1162.5 |
MSCI AC Asia Pacific ex Japan Index (currency adjusted) | +7.3 | +13.4 | +61.2 | +255.9 | +208.3 |
MSCI AC Asia Pacific ex Japan Small Cap Index (currency adjusted) | +4.6 | +1.4 | +55.1 | n/a | n/a |
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Source: Aberdeen Asset Management PLC, Fundamental Data, Factset & Russell Mellon | |||||
By Samuel Agini; [email protected]; @samuelagini
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