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 WarningPast Performance
Past performance is no guide to future performance.
See latest monthly factsheet below for performance history.
Daily Data
At close 17-May-2012
Ord| Price | 228.00p |
| NAV** | 249.98p |
| Prem/-Disc** | -8.79% |
3.5% CULS 2018
| Price | 106.00 |
| NAV** | 100.00 |
| Prem/-Disc** | 6.00% |
Source: Morningstar
* Debt at market value
** Debt at par
NAV = Net Asset Value
Literature
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
The objective of Edinburgh Dragon Trust plc is 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.
Aberdeen's investment approach: An eye for potential, an ear to the ground
December 2011
Manager's Monthly Report
April 2012
Market Review
Asian stock markets generally fell in March as China’s economic momentum decelerated further and triggered worries over the health of the global economy. However, the losses were capped by hopes that the Federal Reserve would maintain a loose monetary policy, and as the US economy improved.
Economic data were mixed. Anaemic European demand hurt exports from China, Malaysia and Thailand, whereas Korea, Singapore and Taiwan saw electronics shipments improve. Fourth-quarter GDP growth moderated in Korea.
Inflation eased further but persistently high oil prices threatened to reverse the trend. Most central banks held interest rates unchanged, although India lowered lenders’ cash reserve ratio to improve liquidity.
Portfolio Review
In March, we sold Hong Kong-listed Dah Sing Financial and added to its larger peer, HSBC, as we consolidated the portfolio’s North Asian financial exposure. We also pared Hong Kong’s ASM Pacific and Thailand’s Siam Cement following their solid relative performance and added to Singapore’s Keppel.
In portfolio-related news, two Sun Hung Kai directors were arrested for alleged corruption. No further details were provided, but the company said the arrests will not affect operations. Elsewhere, Swire Pacific’s result was affected by Cathay Pacific’s lower contributions but its property division Swire Properties continued to perform well on the back of positive rental reversion and high occupancy whilst Keppel Corp will build a US$315 million new-generation accommodation vessel for repeat customer Floatel International.
Outlook
Looking ahead, sentiment in Asian stock markets is likely to be swayed by the uncertain economic backdrop, particularly in the context of a slowdown in China, Europe’s recurring debt problems and lingering doubts over the sustainability of the US recovery. Over the longer term, however, we remain optimistic about Asia’s prospects, which are undiminished despite these concerns.
Source: Monthly Factsheet Aberdeen Asset Managers Limited