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Aberdeen Diversified Income and Growth Trust

LN: ADIG

Market Cap£309m

Last Close 99.9p

ADIG’s investment objective is to achieve a total portfolio return of Libor +5.5% per annum (net of fees) over rolling five-year periods by investing globally using a flexible multi-asset approach via quoted and unquoted investments.

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Investment summary

Aberdeen Diversified Income and Growth Trust (ADIG), a diversified multi-asset fund, has undergone a considerable change during Q420, as the board addressed the disappointing performance since 2017. We believe the change in strategy and the new team provide a turnaround opportunity. After a strategic review in October-November 2020, the manager, Aberdeen Standard Investments (ASI), simplified the strategy, segmented the investible asset classes into four asset buckets (listed equities, fixed income & credit, listed alternatives, private markets) and emphasised the sustainability of the dividend. The manager’s plan to maintain or increase currently covered (1.0x) dividends should be supported by the lower interest expense after the partial bond repurchase in early November 2020 and the use of revenue reserves.

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Share price graph
Price performance
%
1m
3m
12m
Actual 0.5 1.3 9.8
Relative* (2.7) (3.3) (11.6)
52-week high/low 102.5p/87.8p
*% relative to local index
Key management
William Hemmings Head of Closed End Funds

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