PHILADELPHIA, Sept. 24, 2018 /PRNewswire/ -- Aberdeen
Global Dynamic Dividend Fund¹ (the "Fund") (NYSE: AGD), a
closed-end equity fund, today provided updates on the Fund since
the transition of management to Aberdeen Asset Managers Limited
("Aberdeen") on May 4, 2018, (the
"transition date") including actions of the Board of Trustees in
support of the Fund's discount, and performance data and portfolio
composition as of August 31,
2018.
- On June 13, 2018, the Board of
Trustees authorized management to make open market purchases, from
time to time, up to 10% of the Fund's shares of stock outstanding
as of June 13, 2018. Share
repurchases may be made opportunistically at certain discounts to
NAV when management reasonably believes that such repurchases may
enhance shareholder value. There is no assurance the Fund will
purchase any shares or that the share repurchase program will have
an impact on the liquidity or value of the Fund or the Fund's
share. Share repurchase activity is disclosed monthly on the
Fund's website.
- The Board of Trustees approved the Fund's participation in the
Aberdeen Investor Relations program. This a comprehensive
program which includes all forms of marketing promotion including
direct shareholder and advisor engagement, communications and
outreach, marketing collateral and promotional campaigns and
industry event participation. Dedicated marketing and product
specialists work in coordination with Aberdeen's external wholesale
force to identify and support existing investors, key distribution
partners, intermediary firms, research analysts, and other key
gatekeepers, as well as potential buyers of the Fund by
enhancing relationships directly with financial advisors and
professional wealth managers, institutional investors, and other
stakeholders.
- The Board of Trustees approved an expense waiver agreement such
that the expense ratio of the Fund (excluding leverage costs,
taxes, interest, brokerage commissions and any non-routine
expenses) will not exceed 1.16%. This expense waiver serves
to provide shareholders with assurance that the Fund's expense
ratio will be lower than the 2017 fiscal year and will not exceed
this amount for a minimum period of two years from the transition
date.
The Fund's total returns for various periods through
August 31, 2018 are provided
below. (All figures are based on distributions reinvested at
the dividend reinvestment price, and are stated net-of-fees):
|
Cumulative as of
08/31/18 (%)
|
Annualized as of
08/31/18 (%)
|
|
1 Month
|
3 Month
|
YTD
|
1 Year
|
3 Years
|
5 Years
|
10
Years
|
Since
Inception
|
NAV
|
0.4
|
3.2
|
3.3
|
12.3
|
11.7
|
11.1
|
3.8
|
2.0
|
Market
Price
|
0.8
|
1.2
|
1.9
|
9.7
|
13.9
|
11.0
|
2.4
|
0.7
|
MSCI AC
World Index
|
0.8
|
3.4
|
3.8
|
12.0
|
12.5
|
10.3
|
7.3
|
6.9
|
As of August 31, 2018, the Fund's
net assets amounted to US$146.3
million with a net asset value per share of common stock of
US$11.66.
As of August 31, 2018, the
portfolio was invested as follows:
Portfolio
Composition
|
Percent of
Net Assets
|
Financials
|
17.4
|
Information
Technology
|
14.8
|
Industrials
|
12.4
|
Health
Care
|
12.2
|
Consumer
Discretionary
|
10.5
|
Energy
|
7.7
|
Materials
|
5.5
|
Utilities
|
5.4
|
Consumer
Staples
|
4.5
|
Real
Estate
|
3.9
|
Telecommunications
|
3.4
|
Cash
|
2.4
|
Country
|
Geographic
Exposure %
|
United
States
|
56.6
|
United
Kingdom
|
7.1
|
Switzerland
|
4.2
|
France
|
4.2
|
Japan
|
3.7
|
Germany
|
3.6
|
South
Korea
|
3.2
|
Finland
|
3.0
|
Canada
|
2.5
|
Italy
|
2.5
|
Sweden
|
2.3
|
Spain
|
2.1
|
Brazil
|
1.8
|
Mexico
|
1.2
|
China
|
1.2
|
Portugal
|
0.8
|
The Fund's ten largest equity holdings as of August 31, 2018, representing 14.0% of total
assets, were:
Holding
|
Percent of
Net Assets
|
Apple
|
2.4
|
Broadcom
|
1.5
|
Delta Air
Lines
|
1.3
|
Leidos Holdings
Inc.
|
1.3
|
Ferrovial
|
1.3
|
Vodafone Group
PLC
|
1.3
|
Aetna
Group
|
1.3
|
Canadian Pacific
Railway
|
1.3
|
Thermo
Fisher
|
1.2
|
Wells Fargo &
Co.
|
1.2
|
TOTAL
|
14.0
|
Important Information
Aberdeen Asset Management Inc.
has prepared this report based on information sources believed to
be accurate and reliable. All reasonable care has been taken to
ensure accuracy. However, the figures are unaudited and neither the
Fund, the Investment Manager, nor any other person guarantees their
accuracy. Investors should seek their own professional advice and
should consider the investment objectives, risks, charges and
expenses before acting on this information.The Investment Manager
is a subsidiary of Aberdeen Asset Management PLC ("Aberdeen
PLC").
Aberdeen Standard Investments is a brand of the investment
businesses of Aberdeen Asset Management and Standard Life
Investments. In the United States,
Aberdeen Standard Investments is the marketing name for the
following affiliated, registered investment advisers: Aberdeen
Asset Management Inc., Aberdeen Asset Managers Ltd., Aberdeen
Standard Investments Australia Limited (formerly known as Aberdeen
Asset Management Ltd.), Aberdeen Standard Investments (Asia) Limited (formerly known as Aberdeen
Asset Management Asia Ltd.), Aberdeen Asset Capital Management,
LLC, Standard Life Investments (Corporate Funds) Ltd., and Standard
Life Investments (USA) Ltd.
Closed-end funds are traded on the secondary market through one
of the stock exchanges. The Fund's investment return and principal
value will fluctuate so that an investor's shares may be worth more
or less than the original cost. Shares of closed-end funds may
trade above (a premium) or below (a discount) the net asset value
(NAV) of the fund's portfolio. There is no assurance that the Fund
will achieve its investment objective.
Past performance is no guarantee of future results.
Investment returns and principle value will fluctuate and shares,
when sold, may be worth more or less than original cost. Current
performance may be lower or higher than the performance quoted. NAV
return data includes investment management fees, custodial charges
and administrative fees (such as Director and legal fees) and
assumes the reinvestment of all distributions. Returns for periods
less than one year are not annualized. Holdings are subject to
change and are provided for informational purposes only and should
not be deemed as a recommendation to buy or sell the securities
shown. Inception date July 26,
2006.
If you wish to receive this information
electronically, please contact
Investor.Relations@aberdeenstandard.com
1As of May 7, 2018, the
Fund name changed from the Alpine Total Dynamic Dividend Fund.
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SOURCE Aberdeen Global Dynamic Dividend Fund