Edinburgh Dragon Trust plc
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Investor Warning

Please be aware of scams that can affect investors.

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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

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 28-Aug-2014

Ord
Price272.75p
NAV**304.15p
Prem/-Disc**-10.32%

3.5% CULS 2018
Price105.38
NAV**100.00
Prem/-Disc**5.38%


* 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 Half Yearly Report for the six months ended 28 February 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 2014

Market Review

Asian equities rose in July as markets focused on rosier Chinese economic data, augmented by targeted easing measures and the government redoubling its anticorruption and reform drive. In Indonesia, Joko Widodo won the presidential election, although his opponent Prabowo Subianto mounted a legal challenge subsequently.

Portfolio Review

In July, we introduced Indian conglomerate ITC, which has a dominant position in the cigarettes sector. The company has been using robust cashflows from this business to invest in other growth opportunities such as fast-moving consumer goods.

In portfolio-related news, Samsung Electronics reported weak second-quarter results, led by declining profitability in handsets. This was partially mitigated by good performance in the DRAM business and higher sales of its premium products in display and consumer electronics. Taiwan Semiconductor Manufacturing’s results remained solid on robust wafer demand. Profitability rose to a record following better capacity utilisation. However, management gave a more cautious outlook for 2015.

Meanwhile, Singapore lender OCBC will now be able to buy all remaining shares and delist Wing Hang, after acquiring 97.5% in the Hong Kong bank. It edged out hedge fund Elliott Management, which had hoped to block the privatisation for a better offer. The deal will allow OCBC to grow in greater China.

Outlook

Still ample liquidity has helped markets stay relatively resilient, despite the weaker macro environment. A premature tightening of US interest rates, however, could upset this trend. On the flip side, tighter monetary policy would signal a US recovery, which should bode well for the region’s exports. An escalation of violence in Ukraine or a further unravelling of Europe’s banking system could also jolt markets. Nevertheless, we remain optimistic about Asia’s long-term prospects, given rising middle class aspirations. Recent elections have put in place new governments that appear focused on reform. Finances are healthy, despite higher leverage at the consumer level. Corporates are seeing cost cuts aid margin recovery. Valuations remain supportive on both an absolute and a relative basis, and we believe prudent stock-picking will reward the patient investor over the long term.


Source: Monthly Factsheet Aberdeen Asset Managers Limited

 
 
 
 
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