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

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
 

Past Performance

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

 
 

Daily Data

At close 26-May-2015

Ord
Price289.00p
NAV**324.06p
Prem/-Disc**-10.82%

3.5% CULS 2018
Price106.75
NAV**100.00
Prem/-Disc**6.75%


* 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

April 2015

Market Review

Despite lacklustre economic data, Asian equities rose in April amid continued policy easing.

Portfolio Review

In first-quarter earnings news, cheaper oil prices crimped revenues for PetroChina, but the company continued to cut capital spending, thus preserving cash flow. Strength in AIA’s core businesses offset currency headwinds, while ASM Pacific Technology benefited from resilient demand.

In Thailand, Siam Cement’s healthy first-quarter profits were driven mainly by the strong chemicals division. Conversely, results at Singapore’s Keppel disappointed, given the soft conditions in the offshore and marine, property and infrastructure segments. On a positive note, the order book in its offshore and marine business remained robust. Bank holdings DBS, OCBC and UOB reported results that largely met expectations, while their capital positions and asset quality remained sound.

In portfolio activity, we took profits from positions that appeared expensive after the recent run-ups in their share prices, including HDFC, AIA, China Mobile, Samsung Electronics and Venture.

With the proceeds, we initiated Singapore-listed Yoma Strategic, which has its principal business in Myanmar. The company is predominantly in real estate, but also has exposure to other sectors within the fast-developing Myanmar market. We also introduced Indiabased Piramal Enterprises, with interests in consumer finance and pharmaceutical services. The Piramal family and its patriarch Ajay are savvy acquirers and builders of businesses in India. Both Yoma and Piramal trade at notable discounts to their net asset values. Elsewhere, we added to Global Brands and Shinsegae, which have good prospects and trade at attractive valuations.

Outlook

Continued loose monetary policy alone is insufficient to revive economic growth or counter deflationary threats, as long as structural weaknesses persist. Instead, such measures have merely served to inflate global asset prices. While some of our holdings have benefited from the run-up, markets are starting to appear frothy. Unless corporate earnings recover, share prices could be due for a correction in light of the Federal Reserve’s anticipated hike in interest rates. That said, Asian markets have priced in a Fed tightening to some extent and corporates are well financed with healthy balance sheets and manageable debt levels. Regional policymakers have taken steps to improve the financial position of their economies, by increasing taxes, reducing subsidies and boosting foreign currency reserves.


Source: Monthly Factsheet Aberdeen Asset Managers Limited

 
 
 
 
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