Edinburgh Dragon Trust plc
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Investor Warning

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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

Investor warning: Please be aware of scams that can affect investors. Read the full warning here.


Past Performance

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


Daily Data

At close 02-Oct-2015


3.5% CULS 2018

* 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,

Registered in Scotland as an Investment Company Number 106049


Edinburgh Dragon Trust plc


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

August 2015

Market Review

It was another turbulent month for Asian equities as worries about the slowing Chinese economy and its impact on global growth triggered a widespread sell-off. Lingering uncertainty over a potential Fed rate hike also unnerved investors.

Portfolio Review

In earnings news, HSBC’s interim profits were bolstered by its global banking and wealth management businesses. The bank is selling its Brazilian unit to Banco Bradesco for US$5.2 billion to streamline operations. Standard Chartered posted weaker earnings. Revenues fell, while impairments and compliance costs rose; it halved its interim dividend to conserve capital. Jardine Strategic’s profits fell as its Indonesian subsidiary Astra faced currency headwinds, weak commodity prices and tougher sales. Its Hong Kong retail arm, Dairy Farm, saw margins eroded by cost and competitive pressures, whereas Hong Kong Land benefited from steady rentals and lower vacancies at home, and healthy sales in Singapore and in China. The group’s cash flows were robust owing to better working capital management; the company increased its dividend.

Elsewhere, ST Engineering’s muted results met expectations; management raised its interim dividend and expects a better second half. SingTel’s underlying operations were stable even though currency weakness hurt earnings. Higher net interest and fee incomes aided Public Bank. CIMB revenues grew, although increased costs and a one-off provision eroded net profits.

In portfolio activity, we continued to build our positions in Oriental Holdings, Holcim Indonesia, Batu Kawan and China Conch Venture in view of attractive valuations.


We expect further market volatility. Investors are still worried about China’s growth as the authorities’ mishandling of the stock-market dented confidence in their ability to manage the broader economic slowdown. The prospect of higher US interest rates is another concern. Ample liquidity resulting from low global interest rates has artificially supported asset prices. With the Fed looking to normalise monetary policy soon, there are fears that the move would further strengthen the dollar and roil emerging markets. We are unperturbed, however. China’s stock-markets seldom reflect the true nature of its economy, while the Fed’s impending move should already be priced in. If the recent correction means a quicker return to fundamentals, there will be opportunities for us to add to stocks that have been sold off indiscriminately and pick up high-quality ones that trade at attractive valuations.

Source: Monthly Factsheet Aberdeen Asset Managers Limited

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