London, UK, 15 April 2024

Edison issues update on abrdn Asian Income Fund (AAIF): All looking good in terms of income and growth

abrdn Asian Income Fund (AAIF) recently posted an upbeat set of results. In FY23, the company outperformed its reference index (MSCI AC Asia Pacific ex Japan), there was a significant increase in the dividend, which was fully covered and has now risen for 15 consecutive years, and AAIF’s board has negotiated a more competitive fee structure. AAIF is managed by abrdn’s well-established Singapore-based Asian equity team. This location is an advantage in terms of communication and developing strong corporate/organisational relationships, along with seeking opportunities that may be overlooked by other Asian equity investors. AAIF’s portfolio holds some of the most successful Asian companies as well as younger firms with promising futures.

Although investment company discounts are generally wider than normal in an uncertain macroeconomic environment, AAIF’s valuation appears to be somewhat anomalous. Despite a respectable performance record versus its four peers in the AIC Asia Pacific Equity Income sector, AAIF currently has the second-widest discount. The company has also outperformed its reference index over the last one, three and five years and offers a very attractive 5.5% dividend yield. Its 15-year dividend growth record means that AAIF qualifies as one of the AIC’s next-generation dividend heroes and is just five years away from becoming a full dividend hero.

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