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Edison update on Aberdeen New Thai IT

17 September 2015 07:33

Edison has issued a research update on Aberdeen New Thai Investment Trust.

Edison says: "Aberdeen New Thai Investment Trust (ANW) is an actively managed closed-ended fund investing in companies listed in Thailand. The trust targets capital growth rather than income, but the manager's focus on cash-generative companies with strong balance sheets makes yield a differentiating feature and ANW has the highest yield among peers.

"While recent performance has been affected by political unrest and a resulting economic slowdown, the Thai market has outpaced many Asian markets over the long-term, and the manager points to opportunities for Thai companies to expand into faster growing neighbouring ASEAN countries.

"ANW's share price discount to NAV (excluding income) has largely stayed within a 10% to 15% range over the last two years, averaging 13.1%. The discount currently sits towards the wider end of this range at 14.3%, suggesting scope for it to narrow as sentiment improves. ANW has the highest yield of the four dividend-paying funds in the peer group of 10 Asia-Pacific country specialist funds."

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