Aberdeen Standard Asia Focus PLC

A fundamental, high conviction portfolio of well-researched Asian small caps.

Daily prices as of 17 Sep 2021

Share Price 1400.00p

Estimated NAV cum income 1624.13p

Estimated NAV ex income 1598.71p

Dividend Yield 1.4%

Premium / (Discount) to NAV cum income -13.8%

Premium / (Discount) to NAV ex income -12.4%

Celebrating 25 years of Aberdeen Standard Asia Focus PLC

On our 25th anniversary, with the help of a distinguished panel of contributors, we thought it would be interesting to pose the question of Asia: the next 25 years.

2020 saw the world beset by the greatest economic crisis since the Second World War. It started in Asia but through the incredible discipline for which the peoples of Asia are such an exemplar, it has also been the first region to emerge towards recovery.

The articles within the booklet below explore both the broad global question of whether the 21st century will be the Asian Century and the economic impact of this on the broader market and also smaller companies. Our contributors also consider an array of issues that are shaping business, consumption trends and policy in Asia, including technology, supply chains, tariffs and disease control.

I would like to thank all our contributors for their time and thought-provoking comment and we hope you enjoy reading the articles below.

Latest news

An update from our investment manager, Hugh Young - 25 August 2021

The resurgence of coronavirus infections in some parts of Asia has given rise to caution and is likely to delay economic recovery. That said, optimism around a wider economic recovery remains firm, largely due to the prospect of greater US federal spending. Also, we believe China remains pro-innovation despite tougher domestic regulatory oversight, and this will continue to support regional export growth.

More broadly, Asia remains the powerhouse of global growth, with huge potential for wealth creation over the coming decades. The portfolio offers exposure to sectors supplying hardware, software and platforms for the latest consumer electronics, artificial intelligence and the Internet of Things. Moreover, it is also positioned in more traditional sectors, addressing the region’s increasing urbanisation and infrastructure needs, as well as rising demand for healthcare and more aspirational consumer goods. Our focus remains on quality businesses that are well-placed to benefit from these trends and the overall growth in the region.

About us

A fundamental, high conviction portfolio of well-researched Asian small caps.

Aberdeen Standard Asia Focus is an Investment Company listed on the London Stock Exchange aiming to find the best managed Asian smaller companies that are setting the new standard.

The Company strives to maximise total return to shareholders over the long term from a concentrated, high-conviction portfolio focusing predominantly on exciting, smaller, listed companies in Asia and Australasia (excluding Japan).

Managers Hugh Young and Gabriel Sacks are both based in the region and are supported by a team of over fifty investment managers.

The portfolio is finely tuned to give shareholders the potential to benefit from Asia's expanding middle class. Stocks are highly diversified by market and sector with a strong focus on manufacturing and consumer products.


Learn more about the portfolio

Key people

Hugh Young

Hugh Young

Chairman of Asia Pacific

Hugh Young is the Chairman for Aberdeen Standard Investments business in Asia. He was previously the Head of Asia Pacific for Aberdeen Standard Investments, a main board director and Head of Investments for Aberdeen Asset Management (before its merger with Standard Life plc). Hugh joined the company in 1985 to manage Asian equities from London, having started his investment career in 1980. He founded Singapore-based ASI Asia in 1992 as the regional headquarters. Hugh is a director of a number of group subsidiary companies and group-managed investment trusts and funds. Hugh graduated with a BA (Hons) in Politics from Exeter University.

Gabriel Sacks

Gabriel Sacks

Investment Director

Chartered Financial Analyst, MA in Land Economy from Cambridge University. Joined ASI in 2008 as part of the London-based Global Emerging Markets Equities team and transferred to Asian Equities in 2018.

  • Hugh Young

    Hugh Young

    Chairman of Asia Pacific

    Hugh Young is the Chairman for Aberdeen Standard Investments business in Asia. He was previously the Head of Asia Pacific for Aberdeen Standard Investments, a main board director and Head of Investments for Aberdeen Asset Management (before its merger with Standard Life plc). Hugh joined the company in 1985 to manage Asian equities from London, having started his investment career in 1980. He founded Singapore-based ASI Asia in 1992 as the regional headquarters. Hugh is a director of a number of group subsidiary companies and group-managed investment trusts and funds. Hugh graduated with a BA (Hons) in Politics from Exeter University.

  • Gabriel Sacks

    Gabriel Sacks

    Investment Director

    Chartered Financial Analyst, MA in Land Economy from Cambridge University. Joined ASI in 2008 as part of the London-based Global Emerging Markets Equities team and transferred to Asian Equities in 2018.

Nigel Cayzer

Nigel Cayzer

Chairman

Chairman of Oryx International Growth Fund Limited and a director of a number of other investment companies.
Charlotte Black

Charlotte Black

Independent Non-Executive Director

Ms Black is a Fellow of the Chartered Institute for Securities & Investment and an independent public affairs consultant. She was until 2015 director, Corporate Affairs at Brewin Dolphin Holdings PLC, having previously served within that company as Marketing Director and in investment management roles. Charlotte has served on the boards of a number of industry related entities including The Wealth Management Association, The Chartered Institute for Securities & Investment and Euroclear PLC.

Randal Dunluce

Randal Dunluce

Independent Non-Executive Director

A Partner of Sarasin & Partners LLP responsible for the management of private client and charity portfolios as well as selfinvested personal pension schemes. He is chairman of Sarasin’s London partnership. He is also a non–executive director of a number of other private companies.
Debby Guthrie

Debby Guthrie

Independent Non-Executive Director

Ms Guthrie is an experienced Japanese equity research salesman at Pelham Smithers Associates, having formerly been director, Yen Equity Sales at Bank of America Merrill Lynch and prior to that director, Japan Equity Sales at Smith New Court. As a first career, Debby worked in the Finance and Environment branches of the Hong Kong Government, as an Administrative Officer. Ms Guthrie is also a director of JP Morgan Japan Smaller Companies Investment Trust PLC. With effect from 1 December 2020 Ms Guthrie was appointed Chair of the Audit Committee.

Image of Krishna Shanmuganathan

Krishna Shanmuganathan

Independent Non-Executive Director

A partner in Scylax Partners in 2016 and prior to that was managing partner at Hakluyt & Company (Asia), a risk advisory company, having established and led the Asia Pacific offices of the firm, based in Singapore. Before that Krishna held research and analyst roles at Fidelity International and Cambridge Associates after a successful and varied career in the Foreign & Commonwealth Office. He holds a number of other non-executive appointments including being on the advisory board of Serendipity Capital, chairman of the trustees of St Jude India Child Care Centres UK and a trustee of Solefield School Educational Trust.

  • Nigel Cayzer

    Nigel Cayzer

    Chairman

    Chairman of Oryx International Growth Fund Limited and a director of a number of other investment companies.
  • Charlotte Black

    Charlotte Black

    Independent Non-Executive Director

    Ms Black is a Fellow of the Chartered Institute for Securities & Investment and an independent public affairs consultant. She was until 2015 director, Corporate Affairs at Brewin Dolphin Holdings PLC, having previously served within that company as Marketing Director and in investment management roles. Charlotte has served on the boards of a number of industry related entities including The Wealth Management Association, The Chartered Institute for Securities & Investment and Euroclear PLC.

  • Randal Dunluce

    Randal Dunluce

    Independent Non-Executive Director

    A Partner of Sarasin & Partners LLP responsible for the management of private client and charity portfolios as well as selfinvested personal pension schemes. He is chairman of Sarasin’s London partnership. He is also a non–executive director of a number of other private companies.
  • Debby Guthrie

    Debby Guthrie

    Independent Non-Executive Director

    Ms Guthrie is an experienced Japanese equity research salesman at Pelham Smithers Associates, having formerly been director, Yen Equity Sales at Bank of America Merrill Lynch and prior to that director, Japan Equity Sales at Smith New Court. As a first career, Debby worked in the Finance and Environment branches of the Hong Kong Government, as an Administrative Officer. Ms Guthrie is also a director of JP Morgan Japan Smaller Companies Investment Trust PLC. With effect from 1 December 2020 Ms Guthrie was appointed Chair of the Audit Committee.

  • Image of Krishna Shanmuganathan

    Krishna Shanmuganathan

    Independent Non-Executive Director

    A partner in Scylax Partners in 2016 and prior to that was managing partner at Hakluyt & Company (Asia), a risk advisory company, having established and led the Asia Pacific offices of the firm, based in Singapore. Before that Krishna held research and analyst roles at Fidelity International and Cambridge Associates after a successful and varied career in the Foreign & Commonwealth Office. He holds a number of other non-executive appointments including being on the advisory board of Serendipity Capital, chairman of the trustees of St Jude India Child Care Centres UK and a trustee of Solefield School Educational Trust.

 

Financial calendar

Year End 31 July
Accounts Published October
Annual General Meeting December
Dividend Paid December

Trust details

Aberdeen Standard Asia Focus PLC

Registered Office:
Bow Bells House
One Bread Street
London
EC4M 9HH

Registered in England and Wales as an Investment Company Number 3106339

Launch Date: October 1995

Risk Warning
Risk warning
The value of investments and the income from them can go down as well as up and you may get back less than the amount invested. Please refer to the relevant Key Information Document (KID) prior to making an investment decision. Please be aware of scams that can affect investors.