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 16-Apr-2015

Ord
Price302.75p
NAV**337.55p
Prem/-Disc**-10.31%

3.5% CULS 2018
Price106.50
NAV**100.00
Prem/-Disc**6.50%


* 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

February 2015

Market Review

Accommodative monetary policy, made possible by still-weak energy and commodity prices, continued to support Asian equities in February.

Portfolio Review

In corporate news, Standard Chartered announced a sweeping overhaul at the top. Bill Winters will replace Peter Sands as CEO in June. Group executive director Jaspal Bindra will step down this year and chairman John Peace will follow suit in 2016. New independent directors will also be brought on board. We believe these changes should strengthen the bank and position it well for an emerging markets recovery.

On the earnings front, most of our holdings reported results that met or exceeded expectations. These included AIA, Public Bank, SingTel, Bank of the Philippine Islands and Ayala Land.

However, quarterly results for the three Singapore banks OCBC, UOB and DBS missed expectations slightly, with growth slowing in tandem with higher provisions.

Nevertheless, asset quality remained resilient, with limited exposure to the energy and commodities segment.

Elsewhere, HSBC’s profits were hurt by lower margins and fee income as well as fines for infractions under the previous management’s watch. While the bank still has some housekeeping to complete, we remain confident of its valuable global franchise and management. In portfolio activity, we top-sliced Ayala Land in the Philippines as well as Infosys and and UltraTech Cement in India after the stocks had a solid run.

Outlook

Deflationary threats have come to the fore, exacerbated by weaker commodity and energy prices in recent months. We maintain the view that cheaper oil and commodities is a good thing as it helps lower costs for consumers and businesses alike. Central banks are likely to continue with more easing measures to spur growth, and this should be supportive of asset prices in the medium term. At the time of writing, India surprised with a second rate cut this year. Conversely, the expected normalisation of Federal Reserve monetary policy and the US dollar’s strength could prove a significant dampener for Asia. In addition, localised headwinds have surfaced. Across Asia, elevated household debt might negate the positive effects of cheaper oil and commodities, while exports will continue to be weighed down by the Chinese slowdown. However, cost cuts and capital preservation in a period of weak demand should boost margins and place well-run companies in good stead for a cyclical upturn.


Source: Monthly Factsheet Aberdeen Asset Managers Limited

 
 
 
 
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