ANW’s investment objective is to provide a high level of long-term, above-average capital growth through investment in Thailand. The trust holds a concentrated portfolio of equities listed on the Stock Exchange of Thailand (SET). Constructed through bottom-up stock selection, ANW’s portfolio is diversified across a broad range of industries, with exposures not linked to SET index allocations.
Aberdeen New Thai Investment Trust (ANW) is the only London-listed investment trust focused on investing in Thailand and the manager Aberdeen Standard Investments (ASI) believes the Thai equity market remains inefficient. During 2020, the ANW team rebalanced the portfolio. ANW was not well positioned for the unforeseen pandemic and subsequent market rout, and performance disappointed. Nevertheless, the manager picked up undervalued stocks during the 2020 sell-off. The manager expects quality companies within the rebalanced portfolio that are market leaders to better weather the impacts of the pandemic and generate sustainable long-term returns.