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Aberdeen Standard Asia Focus IT

Closed-end funds and OEICs
HillManMill
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Aberdeen Standard Asia Focus IT

#186230

Postby HillManMill » December 11th, 2018, 8:39 pm

So the annual report and AGM attendance card for Aberdeen Standard Asia Focus [AAS] arrived today.

At the last AGM of the fund I attended I remember thinking that many of the directors had been in post long enough and perhaps some changes were overdue.

To quote from the chairman's statement in this year's report 'the board believes that all of the above goals will be enhanced by the following................*continued refreshment of the board with the appointment of two highly experienced new Directors to bring fresh thinking to our deliberations.................delivered a 1502% share price return to those who have held shares since 1995. This compares with an increase during the same period of 378% in the MSCI Asia Pacific ex Japan Index'

The length of tenure of the current directors in years is 23, 5, 15, 23, 11 and 4.

But looking at the AGM papers I can see 4 are seeking re election [lengths of service 23, 15, 11 and 23 years] and no new directors seeking election.

Lets take a look at the more recent performance figures: According to Trustnet[11/12/18 figures] : performance is 1st quartile on 6 months, 2nd quartile on 1, 3 and 12 months and 4th quartile on 3 and 5 years.

jaizan
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Re: Aberdeen Standard Asia Focus IT

#209684

Postby jaizan » March 23rd, 2019, 9:59 pm

I tend to look at long term performance figures. Like 10 years.

According to Morning Star, looking at NAV, this IT is the top performing Trust in the "Asia Excluding Japan" sector over 10 years.
I have held it for over 9 years and my original purchase at that time would have been based on top performance in the 10 years prior to that.

I am somewhat concerned about the 5 year performance, but not about to rush into any changes.

Finally, if I understand the process correctly, the stockpicking is handled entirely by Aberdeen Standard, not the directors. So changing the directors would have no effect, unless they choose to either meddle in the outsourced investing process or fire Aberdeen Standard.

Some Investment Trusts have done this, but I would be horrified if Hugh Young & co were to be kicked out.

ADrunkenMarcus
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Re: Aberdeen Standard Asia Focus IT

#210225

Postby ADrunkenMarcus » March 25th, 2019, 8:50 pm

I've held since 2012. I'm hoping it's simply going through a poor spell and that performance will improve to something more akin to its previous success.

Best wishes

Mark.

jaizan
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Re: Aberdeen Standard Asia Focus IT

#214506

Postby jaizan » April 11th, 2019, 10:32 pm

I have held since January 2010. My largest position. The 10 and 20 year results of this are very impressive.


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