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London, UK, 21 April 2021
Edison issues update on Aberdeen Asian Income Fund (AAIF)
Aberdeen Asian Income Fund (AAIF) may appeal to investors interested in income. While perhaps less well known than the UK equity income funds, AAIF yields 4.0%, the second highest of the four Asian income peers, and with a solid performance track record. The team targets the income and growth potential of Asia's most compelling and sustainable companies. Income seekers might gain core exposure to the Asia consumption-driven growth story complemented by structural dividend growth. The focus on high-quality businesses creates a relatively defensive tilt in regional equities. The manager expects the 'value' rotation that began in Q420 across Asia and boosted AAIF's performance, to continue in 2021.
AAIF is trading at a 9.1% cum-fair discount, close to its three-year average of 9.4%, but wider than the 2.1% average discount of the four Asia Pacific income peers with a higher growth bias than AAIF. A reinstatement of investees' dividend payments and further rotation into quality and value could trigger a narrowing of the discount.
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