Aberdeen Diversified I&G Trust PLC Edison review on Aberdeen Diversified I&G Trust
28 September 2019 - 12:43AM
RNS Non-Regulatory
TIDMADIG
Aberdeen Diversified I&G Trust PLC
27 September 2019
London, UK, 27 September 2019
Edison issues review on Aberdeen Diversified Income and Growth
Trust (ADIG)
Aberdeen Diversified Income and Growth Trust (ADIG) continues to
progress towards full implementation of its strategy, aiming to
achieve attractive capital and income returns (five-year target of
Libor +5.5% pa, net of fees) from a widely diversified multi-asset
portfolio, including a significant allocation to less liquid,
longer-term investments that individual investors would be unlikely
or unable to access. Portfolio managers Mike Brooks and Tony Foster
at Aberdeen Standard Investments (ASI) say half the funds committed
to these long-term strategies have now been drawn, with the pace of
investment from underlying managers stepping up over the summer. As
the portfolio develops towards its intended shape, there is scope
for the current wider-than-average discount to narrow materially.
ADIG's shares have an FY19 prospective yield of 5.0%.
At 26 September 2019, ADIG's shares traded at a 9.2% discount to
cum-income NAV. While this was narrower than the recent one-year
high of 11.8%, it is wider than both short- and long-term averages
(range of 3.2% to 4.8%). With disappointing performance from
holdings in insurance-linked securities and litigation finance now
arguably fully reflected in the price, there is scope for the
discount to narrow as the portfolio progresses. Meanwhile, the
shares yield an attractive 5.0% (prospective).
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