TIDMANII
Aberdeen New India Invest Trust PLC
21 December 2018
Aberdeen New India: New research
21/12/2018
Highlights:
-- Aberdeen New India invests in high quality growth stocks in
the Indian stock market with the aim of generating long-term
capital returns
-- The team places a high importance on corporate governance,
which aligns with their long-term perspective on investments
-- Good stock selection has helped the fund outperform strongly
in NAV terms over the past five years, with NAV total returns 123%
compared to the MSCI India's returns of 70
Read more
Aberdeen New India invests in high quality growth stocks in the
Indian stock market with the aim of generating long-term capital
returns.
The trust has outperformed the market handsomely over the past
five years thanks to good stock selection, although the past few
months have been more difficult. As the market has sold off, the
managers have extended use of the trust's gearing facility to take
advantage of cheaper valuations on offer in stocks that have
fallen.
The trust offers exposure to the huge domestic market in India,
which is growing thanks to favourable demographics, with
significant allocations to consumer staples companies and financial
services companies that are rolling out services to the growing
middle class.
The discount is at 15%, near to the cheapest end of its
five-year range, having widened from the under 10% it reached
during 2017's bull market.
The trust hasn't paid a dividend since 2005, and is unlikely to
do so this year, with the managers focused entirely on capital
growth.
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