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Aberdeen Asian Income lags index

15 August 2017 07:53

Aberdeen Asian Income Fund's net asset value returned 10.6% in sterling terms over the six months to 30 June, underperforming the MSCI All Countries Asia Pacific ex Japan Index, which returned 14.1%.

The ordinary share price total return rose by 11.5% while the discount to NAV narrowed slightly to 7.6%.

The company said its focus was on fundamentally solid businesses with robust balance sheets and good cash flow generation, both of which supported its dividend distribution.

It said the index was significantly skewed by the strength of internet stocks Tencent and Alibaba.

It said these were high-growth companies trading at steep valuations that did not prioritise returning cash to investors and, as such, were not held by an income-orientated Company.

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Related Company: AAIF

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