Asia Dragon Trust PLC

Capturing growth from world-class Asian companies


Morningstar rating:
4 out of 5

Daily prices as of 01 Jul 2022

Share Price 439.00p

Estimated NAV cum income 494.29p

Estimated NAV ex income 489.82p

Dividend Yield 1.5%

Premium / (Discount) to NAV cum income -11.2%

Premium / (Discount) to NAV ex income -10.4%

Source: Morningstar

About us

Find out more about our investment objective, approach, portfolio and performance.

Insights

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Latest news

An update from our investment manager, Pruksa Iamthongthong - 29 April 2022

We expect continued volatility and uncertainty in the capital markets, until we see some resolution of the Russia-Ukraine crisis. In addition, investors will continue to focus on the pace of monetary policy normalisation, the challenges facing China and Covid-19. However, striking a more positive note, we would point out that trade and banking linkages with Russia and Ukraine are relatively limited and inflation is still mostly benign across Asia and is not constraining policymakers in their ability to support their economies. Meanwhile economic growth and earnings growth is still holding up reasonably well with markets such as India and the Philippines still on course to deliver healthy double-digit earnings growth this year. Moreover, although Covid-19 remains a risk, most of the region is moving towards living with the virus. Given the challenges facing Asia right now, this time is when an active approach to investing makes a difference enabling investors to sidestep parts of the market that are most exposed to risks and uncertainties. ESG is a key part of this active investment approach, particularly when it comes to assessing regulatory risk. We think a quality-focused investment approach – one that will help provide a buffer against rising volatility – is even more important in such times and we favour well-run quality companies with pricing power and ability to pass through cost pressures and weather the difficult conditions.

Key people

Adrian Lim

Adrian Lim

Investment Director

Adrian Lim is a senior investment manager on the Asia Pacific (ex Japan) equity team. Adrian originally joined the company in 2000 as a manager in private equity, on the acquisition of Murray Johnstone, but transferred to his current post soon afterwards. Previously, Adrian worked for Arthur Andersen LLP as an associate director advising clients on mergers & acquisitions in the region.

Adrian graduated with a BAcc from Nanyang Technological University, Singapore. He is a CFA Charterholder.

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute

Pruksa Iamthongthong

Pruksa Iamthongthong

Investment Director

Pruksa Iamthongthong is an Investment Director on the Asian Equities team

Pruksa graduated with a BA in Business Administration from Chulalongkorn University, Thailand and is a CFA Charterholder.

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute

Flavia Cheong

Flavia Cheong

Head of Equities - Asia Pacific

Flavia Cheong is the Head of Asia Pacific Equities on the Asian Equities team at abrdn, where, as well as sharing responsibility for company research, she oversees regional portfolio construction. Before joining abrdn in 1996, she was an economist with the Investment Company of the People’s Republic of China, and earlier with the Development Bank of Singapore. Flavia graduated with a BA in Economics and an MA (Hons) in Economics from the University of Auckland. She is a CFA charterholder.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

  • Adrian Lim

    Adrian Lim

    Investment Director

    Adrian Lim is a senior investment manager on the Asia Pacific (ex Japan) equity team. Adrian originally joined the company in 2000 as a manager in private equity, on the acquisition of Murray Johnstone, but transferred to his current post soon afterwards. Previously, Adrian worked for Arthur Andersen LLP as an associate director advising clients on mergers & acquisitions in the region.

    Adrian graduated with a BAcc from Nanyang Technological University, Singapore. He is a CFA Charterholder.

    CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute

  • Pruksa Iamthongthong

    Pruksa Iamthongthong

    Investment Director

    Pruksa Iamthongthong is an Investment Director on the Asian Equities team

    Pruksa graduated with a BA in Business Administration from Chulalongkorn University, Thailand and is a CFA Charterholder.

    CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute

  • Flavia Cheong

    Flavia Cheong

    Head of Equities - Asia Pacific

    Flavia Cheong is the Head of Asia Pacific Equities on the Asian Equities team at abrdn, where, as well as sharing responsibility for company research, she oversees regional portfolio construction. Before joining abrdn in 1996, she was an economist with the Investment Company of the People’s Republic of China, and earlier with the Development Bank of Singapore. Flavia graduated with a BA in Economics and an MA (Hons) in Economics from the University of Auckland. She is a CFA charterholder.

    CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

James Will

James Will

Chairman of Board and Chairman of Nomination and Management Engagement Committees

James Will, appointed on 1 October 2018 and Chairman since 3 July 2019, is a former Chairman of law firm Shepherd and Wedderburn LLP where he was a senior corporate partner, heading its financial sector practice. He has experience of working with companies in a wide range of industry sectors including financial services, technology, energy and life sciences. He is Chairman of The Scottish Investment Trust plc and Audit Chairman of Herald Investment Trust plc.
gaynor coley

Gaynor Coley

Non-executive Director & Audit and Risk Committee Chairman

Gaynor Coley, appointed on 3 July 2019, is a qualified chartered accountant with over 30 years’ experience in private and public sector finance and governance. She is currently the Audit Committee Chairman of Lowland Investment Company and SQN Secured Investment Fund. She is also chairman of The Wave Group Ltd and a number of private companies. She was previously the Director of Public Programmes at the Royal Botanic Gardens Kew, Managing Director of the Eden Project in Cornwall and Director of Finance at Plymouth University.
Charlie Ricketts

Charlie Ricketts

Senior Independent Non-executive Director and Remuneration Committee Chairman

Charlie Ricketts, appointed on 19 April 2016, has over 30 years' experience within the investment funds arena. He was, until 2014, the head of investment funds at Cenkos Securities, providing equity capital markets services to the fund management industry and to investment trust companies. He was previously a managing director of UBS Investment Bank and head of investment funds. He began his investment career as an investment director of Johnson Fry and then head of marketing and investment product development at Gartmore Investment Management. Charlie is a non-executive director of Templeton Emerging Markets Investment Trust and is co-Founder of the charity Carefreebreaks.
Susan Sternglass Noble

Susan Sternglass Noble

Non-executive Director

Susan Sternglass Noble, appointed on 7 August 2020, has over 30 years’ experience of investment management and analysis, specialising in financial sector equities, with focus on global, European and Asian mandates. She holds a B.A. in Asian Studies from Cornell University and a M.S. in Foreign Service from Georgetown University and is a Mandarin Chinese speaker. Susan held senior roles at Goldman Sachs, JP Morgan, CQS and AXA Investment Managers. More recently she has held a number of board, advisory and policy roles with a focus on corporate governance and investment stewardship. Susan is a non-executive director of Unity Trust Bank, a senior adviser to The Investor Forum and trustee of the charity, Link Age Southwark. She was previously a specialist adviser to the Treasury Select Committee of the House of Commons and a Commissioner on the Dormant Assets Commission.
Matthew Dobbs

Matthew Dobbs

Non-executive Director

Matthew spent his 40 year fund management career at Schroders, recently stepping down from full time investment responsibilities. He is a renowned Asian and Small Companies investment expert having been Schroders' Head of Global Small Companies since 2000. In addition to managing the Schroders Asian Alpha Plus Fund, Matthew was instrumental in helping grow the assets of two investment trusts, Schroder AsiaPacific Fund plc and Schroder Oriental Income Fund Limited, since their launches in 1995 and 2005, into FTSE 250 Companies. He holds a BA in history and economics from Oxford University. Matthew is a non-executive director of the European Opportunities Trust PLC.

  • James Will

    James Will

    Chairman of Board and Chairman of Nomination and Management Engagement Committees

    James Will, appointed on 1 October 2018 and Chairman since 3 July 2019, is a former Chairman of law firm Shepherd and Wedderburn LLP where he was a senior corporate partner, heading its financial sector practice. He has experience of working with companies in a wide range of industry sectors including financial services, technology, energy and life sciences. He is Chairman of The Scottish Investment Trust plc and Audit Chairman of Herald Investment Trust plc.
  • gaynor coley

    Gaynor Coley

    Non-executive Director & Audit and Risk Committee Chairman

    Gaynor Coley, appointed on 3 July 2019, is a qualified chartered accountant with over 30 years’ experience in private and public sector finance and governance. She is currently the Audit Committee Chairman of Lowland Investment Company and SQN Secured Investment Fund. She is also chairman of The Wave Group Ltd and a number of private companies. She was previously the Director of Public Programmes at the Royal Botanic Gardens Kew, Managing Director of the Eden Project in Cornwall and Director of Finance at Plymouth University.
  • Charlie Ricketts

    Charlie Ricketts

    Senior Independent Non-executive Director and Remuneration Committee Chairman

    Charlie Ricketts, appointed on 19 April 2016, has over 30 years' experience within the investment funds arena. He was, until 2014, the head of investment funds at Cenkos Securities, providing equity capital markets services to the fund management industry and to investment trust companies. He was previously a managing director of UBS Investment Bank and head of investment funds. He began his investment career as an investment director of Johnson Fry and then head of marketing and investment product development at Gartmore Investment Management. Charlie is a non-executive director of Templeton Emerging Markets Investment Trust and is co-Founder of the charity Carefreebreaks.
  • Susan Sternglass Noble

    Susan Sternglass Noble

    Non-executive Director

    Susan Sternglass Noble, appointed on 7 August 2020, has over 30 years’ experience of investment management and analysis, specialising in financial sector equities, with focus on global, European and Asian mandates. She holds a B.A. in Asian Studies from Cornell University and a M.S. in Foreign Service from Georgetown University and is a Mandarin Chinese speaker. Susan held senior roles at Goldman Sachs, JP Morgan, CQS and AXA Investment Managers. More recently she has held a number of board, advisory and policy roles with a focus on corporate governance and investment stewardship. Susan is a non-executive director of Unity Trust Bank, a senior adviser to The Investor Forum and trustee of the charity, Link Age Southwark. She was previously a specialist adviser to the Treasury Select Committee of the House of Commons and a Commissioner on the Dormant Assets Commission.
  • Matthew Dobbs

    Matthew Dobbs

    Non-executive Director

    Matthew spent his 40 year fund management career at Schroders, recently stepping down from full time investment responsibilities. He is a renowned Asian and Small Companies investment expert having been Schroders' Head of Global Small Companies since 2000. In addition to managing the Schroders Asian Alpha Plus Fund, Matthew was instrumental in helping grow the assets of two investment trusts, Schroder AsiaPacific Fund plc and Schroder Oriental Income Fund Limited, since their launches in 1995 and 2005, into FTSE 250 Companies. He holds a BA in history and economics from Oxford University. Matthew is a non-executive director of the European Opportunities Trust PLC.

 

Financial calendar

Year End 31 August
Accounts Published November
Annual General Meeting December
Dividend Paid December

Trust details

Asia Dragon Trust plc

Registered Office:
1 George Street
Edinburgh
EH2 2LL

Registered in Scotland as an Investment Company Number SC106049

Launch Date: September 1987

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.