Bangkok--26 Mar--Aberdeen
Aberdeen Asset Management has changed the name and the investment policy of the Aberdeen Flexible Income Fund, previously a mixed fund, to the Aberdeen Thai Equity Dividend Fund. The new fund now has the option of investing in stocks with good fundamentals and dividend payment.
Robert Penaloza, Chief Executive Officer, Aberdeen Asset Management Company Limited said “The Aberdeen Thai Equity Dividend Fund has a registered capital of 3 billion Baht. The fund’s investment policy is similar to our other equity funds; we focus on long term investment in individual stocks with good fundamentals and ones that we understand the nature of their business. However, the Aberdeen Thai Equity Dividend Fund is different from our other equity products; it will be Aberdeen’s first Thai equity fund which considers paying dividends.”
The Aberdeen Thai Equity Dividend Fund is suitable for corporate as well as retail investors who expect consistent returns.
In order to promote long term investments, Aberdeen is launching a month long promotional campaign between April 1 and April 30, 2007. Investors who invest in the Aberdeen Thai Equity Dividend Fund during this time will be exempted from the payment of front-end fee at 1% of NAV.
In addition, investors who invest more than 20 million Baht and have remained in the fund for more than 1 year will get a special reward as investment units not exceeding 2% of the total investment amount into the Aberdeen Thai Equity Fund.
Adithep Vanabriksha, Head of Equities, Aberdeen Asset Management Company Limited, commented “The market is at the moment very cheap trading on 10 times price to earnings, or a 40-50% discount to regional peers.. Dividend yields are also attractive ranging from 4-5% and provides defensive qualities particularly in a falling interest rate environment. On a stock selective basis, longer term, we are still confident in the Thai market and continue to take opportunities amidst the volatility."
Aberdeen Asset Management Company Limited is part of the Aberdeen Group which manages US$149 billion (as at January 31, 2007) worldwide. Current asset under management of Aberdeen Group’s investment portfolio in Thailand stands at US$2.1 billion (as at end of February, 2007). The Group is listed on the London Stock Exchange and employs 89 fund managers with a global network of 25 offices around the globe.
For more information, please contact:
Khun Nontakorn Kijthanapaisan
Tel. 0-2352-3332
[email protected]
Khun Vorachat Bunthuwong
Tel. 0-2352-3383
[email protected]
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