Edinburgh Dragon Trust plc
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Investor Warning

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NMPI Status

The Company currently conducts its affairs so that securities issued by Edinburgh Dragon Trust plc can be recommended by financial advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream pooled investment products (NMPIs) and intends to continue to do so for the foreseeable future.

The Company’s securities are excluded from the FCA’s restrictions which apply to non-mainstream investment products because the company would qualify as an investment trust if the company were based in the UK.

 

Pre-investment Disclosure Document (PIDD)

The Alternative Investment Fund Manager Directive (“AIFMD”) requires Aberdeen Fund Managers Limited, as the alternative investment fund manager of Edinburgh Dragon Trust plc, to make available to investors certain information prior to such investors’ investment in the Company.

The AIFMD is intended to offer increased protection to investors in investment products that do not fall under the existing European Union regime for regulation of investment products known as “UCITS”.

Read the PIDD for Edinburgh Dragon Trust

 
 

Morningstar Ratings

Analyst Rating

Gold Rating

Fund Rating

4 Star Rating
 
 

Risk Warning

The value of investments and the income from them may go down as well as up and investors may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Please refer to the Key Facts documents contained in the ISA/Share Plan Brochure & Application form for general and specific investment risks attaching to the individual trusts.

Read the detailed Risk Warning

Investor warning: Please be aware of scams that can affect investors. Read the full warning here.

 

Past Performance

Past performance is not a guide to future results.
See latest monthly factsheet below for performance history.

 
 

Daily Data

At close 27-Aug-2015

Ord
Price234.00p
NAV**262.13p
Prem/-Disc**-10.73%

3.5% CULS 2018
Price102.75
NAV**100.00
Prem/-Disc**2.75%


* Debt at market value
** Debt at par
Source: Morningstar, NAV = Net Asset Value, excluding income.

 
 
 
 
 

Portfolio Holdings Disclaimer

Holdings are subject to change at any time. Holdings should not be relied upon in making investment decisions and should not be construed as research or investment advice regarding specific securities. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or in part.

 
 

Trust Details

Edinburgh Dragon Trust PLC

Registered Office:
40 Princes Street,
Edinburgh
EH2 2BY

Registered in Scotland as an Investment Company Number 106049

 

Edinburgh Dragon Trust plc

Objective

To achieve long term capital growth through investment in the Far East. The company’s benchmark index is the MSCI All Country Asia (ex Japan) Index. Investments are made in stock markets in the region, with the exception of Japan and Australasia, principally in large companies. When appropriate, the trust will utilise gearing to maximise long term returns.

 
 

Edinburgh Dragon Trust plc Annual Report for the year ended 31 August 2014
Adrian Lim, Senior Investment Manager

In this webcast, Adrian Lim, gives an update on a wide range of subjects including performance, a sector breakdown, the twenty largest investments and an outlook for the Trust.

Click here to listen to the presentation.

 

 

Manager's Monthly Report

July 2015

Market Review

Asian stock markets continued to fall in July. China hogged the spotlight again as local equities declined sharply, despite upbeat GDP data and the government’s support measures. Other headwinds included ongoing jitters over Greece and falling commodity and energy prices. Market declines were exacerbated by a rout in regional currencies amid expectations of a Fed rate hike later this year.

Portfolio Review

In earnings news, Samsung Electronics’ second-quarter profits fell amid intense competition in the mobile segment, although losses were mitigated by a solid showing in semiconductors. Siam Cement expects good cement demand in the second half to buttress full-year results. The company’s second-quarter net profit growth was driven by healthy chemical margins and an inventory gain.

In Singapore, Keppel’s results were weighed down by softness in the offshore and marine sector, as well as losses linked to its Middle Eastern infrastructure projects. On a positive note, the property division was relatively resilient. Among the banks, UOB’s results triggered concerns over asset quality, given the jump in provisions for local mortgages. However, DBS and OCBC fared better, extending previous periods’ good performance.

Meanwhile, the UK will introduce an 8% surcharge on domestic banks from next January. In return, it will reduce the bank levy from 0.21% to 0.1% in 2021; by then, the levy will apply only to UK profits instead of global earnings, which seems like good news for HSBC and Standard Chartered.

In portfolio activity, we added to Oriental Holdings, Kerry Logistics and Holcim Indonesia. Conversely, we pared the positions in Venture, Shinsegae and China Mobile.

Outlook

Despite the blitz of supportive measures from Beijing, the decline in Chinese markets has raised questions over the efficacy of these measures as a sustainable long-term solution. How markets will perform remains uncertain, but a further correction would not be surprising, given that economic activity is expected to be subdued. Indeed, the mainland’s muted growth outlook continues to be a major concern that is likely to weigh on Asian markets in the medium term. Nevertheless, regional economies are still growing at rates not seen elsewhere in the developed world. Governments here have many options at hand, including monetary and fiscal measures, to prop up their economies should the need arise. Infrastructure spending should also offer impetus for growth, provided projects do not get derailed by political bickering. The key is to invest in companies with management who possess the financial nous to weather the current slowdown and reap the rewards of Asia’s robust fundamentals over the long term. The region is not trading at prohibitive valuations, and remains attractive relative to developed market peers.


Source: Monthly Factsheet Aberdeen Asset Managers Limited

 
 
 
 
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