Edison Investment Research - Aberdeen Latin American Income Fund (ALAI) Aberdeen Latin American Income Fund - High yield and regular quarterly dividends

Report

Edison Investment Research

Pedro Fonseca

Aberdeen Latin American Income Fund - High yield and regular quarterly dividends

Aberdeen Latin American Income Fund’s (ALAI) managers at Aberdeen Standard Investments (ASI) are cautiously optimistic on the outlook for the region, focusing on its long-term opportunities, while acknowledging the current challenging backdrop due to the global healthcare pandemic. They believe that Latin America is well positioned for an economic improvement and commodity reflation as vaccines are rolled out and are confident about a corporate earnings recovery given measures that companies have taken to rationalise their businesses during the downturn. The managers also point to the relatively attractive valuations compared with the global market available in the region, which may reflect investor concerns about the fiscal and political backdrop in Latin America.

23/02/2021 11 EN

Underlying

Aberdeen Latin American Income Fund

Aberdeen Latin American Income Fund is a closed-ended investment company. Co. invests in: companies listed on stock exchanges in the Latin American region; Latin American securities (such as ADRs and GDRs) listed on other international stock exchanges; companies listed on other international exchanges that derive significant revenues or profits from the Latin American region; and debt issued by governments and companies in the Latin American region. Co. is managed by Aberdeen Private Wealth Management Limited (APWML) and the investment management of Co. has been delegated by APWML to Aberdeen Asset Managers Limited.

See profile

JE00B44ZTP62 London Stock Exchange Jersey

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

See profile

Analysts

Pedro Fonseca

Other Reports on these Companies

Edison Investment Research

abrdn Latin American Income Fund - Termination of coverage

Edison Investment Research is terminating coverage on Mercia Asset Management (MERC), Bloc Ventures (unlisted), YOC (YOC.DE), Genuit Group (GEN), AlzeCure Pharma (ALZCUR), abrdn Latin American Income Fund (ALAI), Magforce (MF6), OPG Power Ventures (OPG) and paragon (PGN). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

October 31, 2022 October 31, 2022 1 EN

Edison Investment Research

abrdn Latin American Income Fund - Valuation providing attractive opportunities

abrdn Latin American Income Fund (ALAI) is managed by two well-resourced, experienced teams at abrdn (global emerging markets equities and emerging market debt) offering investors exposure to both equities and fixed income securities. Despite outpacing the performance of other markets in a volatile 2022 year to date, Latin America continues to look very inexpensive compared to other regions on both an absolute and relative basis, suggesting that political risks may already be being priced in. Central banks in the region have followed conventional monetary policies and some are nearing the end ...

August 31, 2022 August 31, 2022 1 EN

Edison Investment Research

abrdn Latin American Income Fund - Potential for regional re-rating

abrdn Latin American Income Fund’s (ALAI) managers at abrdn Capital International (abrdn) consider that Latin American equity and fixed-income assets are ‘extremely inexpensive’. The region has underperformed both other emerging and developed markets in recent years despite commodity price strength, while the managers believe that Latin American political risk is already priced into the markets. They report that ALAI’s portfolio has significant exposure to positive structural trends such as electrification. As an example, Chile and Peru are leading lithium and nickel producers and these materi...

February 28, 2022 February 28, 2022 1 EN

Games Workshop Group - A notable acceleration in Q225

Games Workshop Group’s (GAW’s) H125 trading update suggests the company enjoyed a strong Q225 in both its core business (due to the launch of the fourth edition of Age of Sigmar midway through Q125) and licensing (due to the success of the Space Marine 2 video game). These are impressive in the context of the tough comparative from the prior year’s launch of the new edition of Warhammer 40K (40K) and the currency headwinds in the early part of H125. We upgrade our profit estimates for FY25 (by 7%) and FY26 (by 3%) to reflect the outperformance versus our prior expectations.

November 22, 2024 November 22, 2024 1 EN

Richard Williamson

Richard Williamson

Altron - Further margin expansion in H125

Altron reported a 105% y-o-y increase in operating profit before capital items in H125, with margin expansion of 5.1pp to 9.8%. The Platforms businesses were particularly strong, with Netstar and FinTech achieving material revenue and profit growth. Altron Digital Business, still in the integration phase, saw some non-recurring costs and the shift of several project starts into H225, but has seen indications that performance should improve in FY26. Management raised its FY26 operating profit target, partly to reflect the inclusion of Altron Document Solutions (ADS) in continuing operations. We...

November 22, 2024 November 22, 2024 1 EN

Alison Turner

Alison Turner

Sayona Mining - Catching up with majors

Sayona Mining is a lithium producer and explorer with projects in Canada, Western Australia and soon in the US and Ghana. A proposed merger of equals with Piedmont Lithium will create a c A$1bn mid-tier lithium player with streamlined asset ownership and significant growth optionality. Sayona and Piedmont’s Canadian and US projects comprise one of the largest advanced hard rock lithium resources in North America and are strategically positioned to supply the region’s growing lithium demand. Following the proposed equity raises, the company will be well capitalised to execute on its growth plan...

November 22, 2024 November 22, 2024 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Aberdeen Latin American Income Fund - High yield and regular quarterly dividends

abrdn Latin American Income Fund - Termination of coverage

abrdn Latin American Income Fund - Valuation providing attractive opportunities

abrdn Latin American Income Fund - Potential for regional re-rating

Games Workshop Group - A notable acceleration in Q225

Altron - Further margin expansion in H125

Sayona Mining - Catching up with majors

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe