money-2696219 (1)

Aberdeen Diversified Income and Growth Trust

LN: ADIG

£296.2m market cap

93p last close

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.

Investment summary

Aberdeen Diversified Income and Growth Trust (ADIG) aims to generate attractive long-term income and capital returns from its diversified multi-asset portfolio. In line with the March 2017 strategy change, the process of recycling capital from listed to longer-term, unlisted holdings is continuing. These should represent c 43% of NAV (vs 26% at end-September 2019) on full deployment of existing commitments. ADIG’s underperformance since the strategy change reflects, among other things, ongoing portfolio repositioning, issues with its insurance-linked and litigation finance holdings and the value bias of its listed equity exposure. Since end-May 2019, the discount to NAV has been above the targeted 5%. That said, ADIG outperformed its benchmark over the last 12 months and it continues to offer an attractive prospective dividend yield of c 5.6%.

Share price graph
Price performance
%
1m
3m
12m
Actual 2.4 (3.1) (16.6)
Relative* 7.7 (10.7) 0.7
52-week high/low 115.0p/69.0p
*% relative to local index
Key management
William Hemmings Head of Closed End Funds

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