Aberdeen New Dawn underperforms benchmark

An overweight position on the Thai market led Hugh Young's Aberdeen New Dawn investment trust to und...

An overweight position on the Thai market led Hugh Young’s Aberdeen New Dawn investment trust to underperform its benchmark in the year to 30 April. The trust generated a NAV total return of 10.2% against an MSCI Asia Pacific (ex Japan) index return of 13.2%. Trust chairman Alan Henderson said an overweight to Thailand cost the fund the most over the 12 months as did an underweight stance on Australia and China. Share price total return was only 0.8% for the year due to the shares trading at a discount to net asset value of 6.3% against a premium of 2.5% last year.