TIDMADIG

Aberdeen Diversified I&G Trust PLC

26 July 2022

London, UK, 26 July 2022

Edison issues review on Aberdeen Diversified Income and Growth Trust (ADIG)

Aberdeen Diversified Income and Growth Trust (ADIG), a diversified multi-asset fund, performed in line with its targets over the last 12 months. Overall performance has stabilised and improved since the Q320 strategic review, when the board addressed the disappointing performance between 2017 and 2020. The restructured portfolio assets have been generating both yield and return on capital. The manager expects stable and dependable dividends to be covered with recurring income within one to two years (current cover 0.99x), supported by steady income and the use of revenue reserves, if necessary. The continuing double-digit discount could present an investment opportunity, as ADIG is on a performance recovery track.

With portfolio realignment making good progress and improving performance, ADIG could be undervalued at a c 16.9% ex-income (with debt at fair value) discount (13.4% three-year average discount). Last 12 months performance in difficult markets has been encouraging, with a NAV total return of 4.5% (to end-June) edging towards the peer average of 7.5% and improving ADIG's peer group ranking. Based on the current share price, ADIG's last 12-month dividend yield is 5.8%, the highest among its peers.

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July 26, 2022 03:47 ET (07:47 GMT)

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