Edinburgh Dragon Trust plc
  (BST)
» Investment Trust Centre
» UK Home

Investor Warning

Please be aware of scams that can affect investors.

Read our investor warning

 

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 they are securities in an investment.

 
 

Morningstar Ratings

Analyst Rating

Gold Rating

Fund Rating

5 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
 

Past Performance

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

 
 

Daily Data

At close 23-Apr-2014

Ord
Price252.00p
NAV*281.83p
NAV**279.55p
Prem/-Disc*-10.58%
Prem/-Disc**-9.86%

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.

 
 
 
 
 

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 Aug 2013
Adrian Lim, Senior Investment Manager

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

Click here to listen to the presentation.

 
 

Edinburgh Dragon Trust plc
Time to top up on quality stocks

February 2014


 

 

Manager's Monthly Report

March 2014

Market Review

Regional markets rose in March, despite a tenuous start hampered by dismal Chinese data and hints that US interest rates could rise earlier than expected. Investors were subsequently reassured by the Fed’s commitment to keep policy loose. India and Indonesia gained from pre-election euphoria, but China lagged after export and manufacturing data disappointed.

Portfolio Review

In corporate news, OCBC reached an agreement to buy Wing Hang Bank at HK$125 a share, equivalent to a price-to-book value of 1.8. We think the deal is fair given the longterm advantages such as access to greater China and the offshore yuan market. TSMC upgraded its forecast for the first quarter on the back of robust demand for its 28-nanometer chips and inventory restocking by customers. The company now expects sales to grow by around 1%, against its previous forecast for a 5-7% decline. Operating margins are also likely to exceed expectations. We view this positively as it underscores the company's leadership in advanced semiconductor technology where capacity remains tight and its manufacturing expertise remains uncontested.

Elsewhere, Li & Fung’s shares rallied after it posted healthy results that met management’s forecast. The separate listing of its global brands and licensing business was seen as positive for its traditional trading unit. However, China Mobile’s shares fell as voice and texting revenues continued declining, while margins were squeezed by increased handset subsidies. The 4G launch also escalated costs, but this should boost its subscriber base in the long term

Outlook

Markets that sold off sharply last year appear to be making up for lost ground. India and Indonesia, for example, have been rewarded by investors for their efforts to fix domestic imbalances and, should policy continue on the right path, both markets could enjoy further gains. Elsewhere, the rebalancing process could take much longer and slower growth in the interim is inevitable, as is the case for China. At the corporate level, companies in the region are still facing slowing exports and weak internal demand, exacerbated by higher costs. However, prudence is starting to bear fruit and we are seeing some margin improvements come through. Companies able and willing to exercise caution now should reap the benefits further down the road, backed by the region’s rising wealth and favourable demographics. We are sanguine about our holdings and believe they have the wherewithal to go on growing over the longer term.


Source: Monthly Factsheet Aberdeen Asset Managers Limited

 
 
 
 
!-- Adobe Marketing Cloud Tag Loader Code Copyright 1996-2013 Adobe, Inc. All Rights Reserved More info available at http://www.adobe.com/solutions/digital-marketing.html -->