Asia Dragon NAV drops 16.7% as merger approaches

7.4% drop since 31 August

The abrdn Asian Dragon trust saw its share price drop 19.5% in its annual results, as it prepares to merge with the abrdn New Dawn trust.

In its annual results to 31 August, posted today (3 November), the trust saw its net asset value decline by 16.7%, compared to an MSCI Asia ex Japan index fall of 8.4% in the same period. Problems for the trust have continued, as since 31 August, its share price has declined by 9%, while its NAV has dropped 7.4%, according to data from the Association of Investment Companies. Asia Dragon shareholders greenlight abrdn New Dawn merger Last week, the vast majority of the trust's shareholders approved its proposed merger with the abrdn New Dawn trust, which will see New Dawn rolled int...