Bangkok--9 Feb--Aberdeen
Aberdeen believes America investment outlook then introduce Aberdeen American Growth Fund (ABAG) which mainly invests in large US multi-national companies listed in stock market.
Mr. Chaikaseam Vadhanasiripong, Head of Funds Distribution, Thailand, said: “Investors are beginning to gain faith in the domestic economic recovery, as indicated by both recent strong inflows to equity mutual funds and exchange-traded funds. The S&P VIX Index of equity market volatility has returned to levels last seen in the autumn of 2007, prior to the global financial crisis. While challenges to a strong economic recovery remain, we believe that there are reasons for optimism as well.”
In our view, the Federal Reserve (Fed) has effectively supported the domestic economy with its latest round of monetary easing, dubbed “QE2.” Thus far, it appears that QE2 has proved to be successful in achieving its goals of boosting the economic outlook and in raising inflation expectations—as demonstrated by the stock market rally, the increase in U.S. Treasury bond yields, the rise in inflation expectations in the Treasury Inflation-Protected Securities (TIPS) market, and the releases of improving economic data in December.”
Consumer confidence is turning positive, as evidenced in surveys and in the return of retail sales to pre-recession levels. Surveys indicate that corporate optimism is also growing, as many companies have reported increases in capital expenditures.
Mr. Chaikaseam Vadhanasiripong, Head of Funds Distribution, Thailand, added: “We believe that economic data should maintain a positive trend for the foreseeable future; however, certain risks require caution. There are still risks in the U.S. economy, such as stubbornly high unemployment, the risk of commodity inflation hindering consumer spending, a beleaguered housing sector that could hamper the recovery and the problematic fiscal and trade deficits that cloud the longer-term picture.”
Aberdeen American Growth fund has been registered since August 11, 2010 with the investment policy to mainly invest in units of a foreign fund, Aberdeen Global-American Equity Fund (Master Fund), at least 80% of its NAV in any accounting period. The rest will be invested in securities or other assets approved by the SEC and the Office of the SEC as the fund manager deems appropriate for the benefits of unitholders. While Aberdeen’s equity portfolios are constructed on a fundamental, bottom-up basis, their positioning reflects our cautiously optimistic view.
Fund Performance NAV 3M* 6M 12M YTD Since Inception*
as of January 28, 2011
AberdeenAmerican Growth Fund (ABAG) 11.2629 12.59% N/A N/A 5.78% 12.63%
Benchmark: S&P 500** 11.66% N/A N/A 4.43% 13.82%
* Performance since inception from 11 Aug 10 to 30 Dec 10
**The S&P 500 is a capitalisation-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries
For comparison purpose, from 16th July 2010, Aberdeen restated the relevant THB translated benchmark to the Bank of Thailand (BOT) rate.
Source : Aberdeen Asset Management Company Li mited
Past performance is not a guarantee of future results. The fund performance document is prepared in accordance with AIMC standards.
Investment in a foreign investment fund (FIF) is subject to currency risk and may get a return lower than the amount initially invested. Investments contain risks. Investor should study prospectus before making a decision to invest.
About Aberdeen Asset Management Group
Aberdeen Asset Management manages over US$286.99 bn* of third party assets from its offices around the world. At Aberdeen, asset management is our sole business. We operate independently and only manage assets for third parties, allowing us to focus only on their needs, without conflicts of interest. Our clients access our investment expertise across the three asset classes: equities, fixed income and property. We package our skills in the form of segregated and pooled products across borders. We invest worldwide and follow a predominantly long-only approach, based on fundamentally sound investments — we do not chase market fads.
*Data as of end Dec 2010
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