Aberdeen Standard Equity Income Trust

LN: ASEI

£187.1m market cap

382.5p last close

Aberdeen Standard Equity Income Trust (ASEI) aims to provide shareholders with an above-average income from their equity investment while also providing real growth in capital and income. It seeks to achieve this through a diversified portfolio of between 50 and 70 equity holdings. The benchmark is the FTSE AllShare index.

Investment summary

Aberdeen Standard Equity Income Trust (ASEI, formerly Standard Life Equity Income Trust [SLET]) has been managed by Thomas Moore since November 2011. He is bullish on the long-term outlook for the trust as the yield on the portfolio is the highest since the end of the global financial crisis in 2009, suggesting UK share prices are discounting a recession or another global crisis. The manager says that ASEI’s holdings – chosen from across the market cap spectrum – can be classified in one of three ‘buckets’: global yield (c 40% of the portfolio), domestic opportunities (c 30%) and uncorrelated value (c 30%), and he is finding good opportunities in all three. The trust’s revenue was higher than projected in FY18, leading to an annual dividend increase of 12.3%, which was much higher than the 7.5% compound annual growth rate over the last five years.

Share price graph
Price performance
%
1m
3m
12m
Actual (1.5) 4.5 (10.7)
Relative* (2.5) 3.1 (14.0)
52-week high/low 436.0p/350.0p
*% relative to local index
Key management
Evan Bruce-Gardyne Head of investment trusts
Thomas Moore Fund manager

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