Bangkok--7 Sep--Aberdeen
Aberdeen remains confident in Asian economies that will continue to grow, as widely expected, at a robust rate of between 7-8%, year-on-year. Also our view is that consumption in Asia will grow further on strong domestic demand which can gradually replace export demand as the source for its future growth.
Although Asian equities fell in the second quarter due partly to the tighting of monetary policy to contain inflation in some Asian countries, the overall economic recovery in Asia remains steadily robust. With confidence continuing to rise on the back of solid balance sheets across from households, corporates and governments, Asian domestic consumptions have been expanding.
Asian equity markets are trading very close to their long term average of 1.8x price-to-book, but with the absence of major debt burdens which is now a major concern in the developed countries. The Asian corporate sector has benefited from this sound backdrop so far, and they are now looking set to produce impressive returns for investors.
Ms. Ratanawan Saengkittikomol, Investment Manager-Thailand equity desk, said “Even if Asian stock markets fell in the second quarter, their growth outlook is still robust. The fundamentals of our holdings are still strong. The recent volatility in Asian stock markets should be taken as good opportunities to buy quality Asian stocks”
Aberdeen Asia Pacific Equity Fund, is investing in Aberdeen Pacific Equity Fund, or the master fund. Its investment policy is to invest in Asia Pacific region, excluding Japan. Currently, the master fund is overweight in Singapore and Hong Kong because of the high quality and efficient managements of the underlying businesses in these two markets. The fund is primarily focused in the financial, communication and consumer product related companies that have region-wide business networks. The investment style is Aberdeen’s which emphasises corporate fundamentals and long term investments. The latest number of 1 year returns from Aberdeen Asia Pacific Equity Fund as at 27th August, 2010 is +13.65% against +1.22% the benchmark, MSCI Asia Pacific Ex Japan Index.
Ms.Chaikaseam Vadhanasiripong, Head of Funds Distribution, commented “Given the resilience of the overall economic backdrop, the relatively strong results of Asian companies and the moderation of Asian stock index performance for the year to date, it can be viewed that Asian equities are one of the most interesting markets, excellent for both portfolio diversification and investment opportunity for the Thai investors”
Net Return (%)
NAV 3M 6M 12M 3Y 5Y YTD Since Inception
AberdeenAsia Pacific Equity Fund 13.3472 +7.95 +5.93 +13.65 +0.04 +33.48 +3.25 +33.47
Benchmark +3.54 -3.70 +1.22 -21.46 +7.45 -7.49 +7.35
Data as of 27 August 2010
Benchmark: The MSCI AC Asia Pacific Excluding Japan Index is a capitalisation weighted index that monitors the performance of stocks from the Asia Pacific region excluding the country of Japan.
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$246.36 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 Jun 10
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Jirachaya Laptavornkiat Tel. 0-2352-3387
Assistant Manager