Aberdeen New Thai Investment Trust’s investment objective is to provide shareholders with long-term, above-average capital growth through investment in Thailand. Its assets are invested in a diversified portfolio of securities – substantially in the form of equities or equity-related securities such as convertible securities and warrants – in companies spread across a range of industries quoted on the Stock Exchange of Thailand (SET).
Aberdeen New Thai Investment Trust (ANW) aims to deliver a high level of long-term capital growth, with the manager following a rigorous bottom-up, stock selection driven investment process. The trust has delivered strong absolute returns over the past 10 years, with an annualised NAV total return of 18.1%. Over the near term, the manager expects the ongoing US-China trade dispute to weigh on Thai equity market sentiment. However, it believes longer-term prospects remain very attractive. The portfolio is shifting in favour of small caps, where the manager can find less well-discovered, high-quality companies that are mispriced relative to their long-term intrinsic value.