Aberdeen New Dawn : ABD – interim results

Results for the six months ended 31 October 2013 show the fund underperforming its benchmark, the MSCI All Countries Asia Pacific ex Japan Index. Over the period ABD’s NAV fell by 4.4%, its share price by 7.9% and the index by 1.8%. The manager attributes this, in part, to ABD’s asset allocation (which is driven by their stock selection decisions) – being overweight Southern Asia at the expense of Northern Asia was unhelpful  over this period but ABD is averse to investing in many Chinese companies because it believes standards of reporting are lower than for comparable companies elsewhere in the region.

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