Aberdeen Emerging Markets Investment Company Limited

Looking for the best-of-breed emerging market funds

Morningstar rating:
4 out of 5

Daily prices as of 27 Sep 2021

Share Price 719.00p

Estimated NAV cum income 804.54p

Estimated NAV ex income 804.26p

Dividend Yield 3.2%

Premium / (Discount) to NAV cum income -10.6%

Premium / (Discount) to NAV ex income -10.6%

Latest news

Change of investment policy, merger and tender offer

The Board is pleased to announce a proposal to change the investment policy of Aberdeen Emerging Markets Investment Company from investing in emerging markets on a fund of funds basis to investing directly in the equities of Chinese companies, a merger with Aberdeen New Thai Investment Trust, and a tender offer for up to 15% of the Company’s shares.

Key benefits of the Proposals:

- Move to investing directly in Chinese equities, which the Board sees as underserved despite China being the world’s second largest economy;
- Access to the highly successful abrdn equities team specialising in China, locally based in Shanghai and Hong Kong;
- Move away from a fund of funds structure to direct investment in equities, which the board expects to improve the attractiveness of the Company’s shares to its core investor base;
- Merger with Aberdeen New Thai Investment Trust to help improve liquidity and free float and, reduce fixed costs per share;
- Tender offer to provide an opportunity for shareholders seeking to realise all or part of their investment.

For full details, please find a link to the announcement below.

About us

Access to a wealth of emerging market talent

Aberdeen Emerging Markets Investment Company is an investment company listed on the London Stock Exchange which aims to offer:

  • A one-stop solution for investors seeking diversified exposure to the global emerging markets of Asia, Eastern Europe, Africa and Latin America.
  • A high conviction, concentrated portfolio of 'best-of-breed' open and closed end funds, many of which are inaccessible to UK retail investors
  • Active country positioning through a rigorous, top-down investment process
  • A highly experienced and stable fund management team, supported by the depth of resource at abrdn

Our core beliefs:

  • Value investing has the potential to deliver attractive returns over the long term
  • Emerging markets are inefficient, especially during times of volatility
  • Genuinely active and contrarian investors can generate alpha from stock selection
  • The structural benefits of closed-end funds should translate into robust, long term, relative performance
  • Discounts on closed-end funds present additional opportunities to enhance returns

Key people

Andrew Lister

Andrew Lister

Senior Investment Manager

Andrew Lister is a Senior Investment Manager and Head of Closed End Fund Strategies at abrdn. He has been a member of the team for over 20 years. In that time he has been involved in all aspects of investment analysis, selection and portfolio management across a range of markets and asset classes, predominantly through listed investment companies such as investment trusts. Andrew is a co-manager of the Aberdeen Emerging Markets Investment Company, itself a London-listed investment company. He also manages the Aberdeen Standard SICAV I – Listed Private Capital Fund, which provides liquid exposure to private markets through a portfolio of private equity and debt investment companies and asset managers. Andrew graduated from the University of Exeter with a BA in Geography in 1999. He completed the Investment Management Certificate in 2001 and qualified as a technical analyst in 2005. 

Bernard Moody

Bernard Moody

Senior Investment Manager

Bernard Moody is a Senior Investment Manager and is co-manager of Aberdeen Emerging Markets Investment Company. Bernard is responsible for Asian investments and markets. Bernard joined the company in December 2015 via the acquisition of Advance Emerging Capital Limited where he had worked since 2006. Previously, Bernard worked for Sarasin Investment Management where he managed Asian and emerging market portfolios between 2000 and 2006. Prior to that, Bernard worked in the Investment Management Research Unit at the actuarial consultants Bacon & Woodrow.
Bernard graduated with a BComm specialising in Banking and Finance from University College Dublin before gaining an MSc in Finance from Queen's University Belfast. Bernard is an Associate of the Society of Investment Professionals.

Bruce Stout

Omar Ene

Investment Analyst

Omar Ene is a Investment Analyst within the Multi-Asset Solutions Division, working with the Close End Fund Strategies and Multi-Asset Research teams, focusing on Emerging and Private markets. Omar joined the company in 2018 as a Graduate analyst, from which he has had exposure to Emerging market debt, Private debt and Multi-Manager strategy. Prior to joining the Investment management industry, Omar worked for DNV GL as an Oil & Gas Topsides Process Engineer. Omar graduated with a MEng in Chemical Engineering from the University of Surrey and MSc Investment Management from CASS Business School. Omar passed Level II of the CFA Program in 2019 and is a 2020 Level III candidate.

  • Andrew Lister

    Andrew Lister

    Senior Investment Manager

    Andrew Lister is a Senior Investment Manager and Head of Closed End Fund Strategies at abrdn. He has been a member of the team for over 20 years. In that time he has been involved in all aspects of investment analysis, selection and portfolio management across a range of markets and asset classes, predominantly through listed investment companies such as investment trusts. Andrew is a co-manager of the Aberdeen Emerging Markets Investment Company, itself a London-listed investment company. He also manages the Aberdeen Standard SICAV I – Listed Private Capital Fund, which provides liquid exposure to private markets through a portfolio of private equity and debt investment companies and asset managers. Andrew graduated from the University of Exeter with a BA in Geography in 1999. He completed the Investment Management Certificate in 2001 and qualified as a technical analyst in 2005. 

  • Bernard Moody

    Bernard Moody

    Senior Investment Manager

    Bernard Moody is a Senior Investment Manager and is co-manager of Aberdeen Emerging Markets Investment Company. Bernard is responsible for Asian investments and markets. Bernard joined the company in December 2015 via the acquisition of Advance Emerging Capital Limited where he had worked since 2006. Previously, Bernard worked for Sarasin Investment Management where he managed Asian and emerging market portfolios between 2000 and 2006. Prior to that, Bernard worked in the Investment Management Research Unit at the actuarial consultants Bacon & Woodrow.
    Bernard graduated with a BComm specialising in Banking and Finance from University College Dublin before gaining an MSc in Finance from Queen's University Belfast. Bernard is an Associate of the Society of Investment Professionals.

  • Bruce Stout

    Omar Ene

    Investment Analyst

    Omar Ene is a Investment Analyst within the Multi-Asset Solutions Division, working with the Close End Fund Strategies and Multi-Asset Research teams, focusing on Emerging and Private markets. Omar joined the company in 2018 as a Graduate analyst, from which he has had exposure to Emerging market debt, Private debt and Multi-Manager strategy. Prior to joining the Investment management industry, Omar worked for DNV GL as an Oil & Gas Topsides Process Engineer. Omar graduated with a MEng in Chemical Engineering from the University of Surrey and MSc Investment Management from CASS Business School. Omar passed Level II of the CFA Program in 2019 and is a 2020 Level III candidate.

Mark Hadsley Chaplin

Mark Hadsley-Chaplin

Chairman

United Kingdom resident – founded RWC Partners Ltd (formerly known as MPC Investors), a London based fund management firm specialising in hedge funds, long only funds and UCITS strategies, in 2000. He was CEO until 2006 and Chairman until 2010. Prior to this he was Vice Chairman of UBS Securities (East Asia) Ltd, based in Singapore and responsible for the management and development of the bank’s Asian equity business worldwide.
William Collins

William Collins

Senior Independent Director

Guernsey resident – has over 45 years’ experience in banking and investment. From September 2007 he was employed by Bank J Safra Sarasin (formerly Bank Sarasin) in Guernsey as Director – Private Clients, retiring at the end of 2014. Prior to that he worked for Barings in Guernsey for over 18 years. In 1995 he was appointed a director and from 2003 until August 2007 was Managing Director of Baring Asset Management (CI) Ltd.
Helen Green

Helen Green

Non-Executive Director

Guernsey resident - is a chartered accountant and has been employed by Saffrey Champness , a top 20 firm of chartered accountants since 1984. She qualified as a chartered accountant in 1988, and became a partner in the London office in 1998. Since 2000 she has been based in the Guernsey office where she is a Client Liaison Director, responsible for trust and company administration.

She is a director of CQS Natural Resources Growth and Income PLC, Landore Resources Limited, UK Mortgages Limited and JP Morgan Global Core Real Assets Limited. She is Chairman of the Audit Committee.

Eleonore de Rochechouart

Eleonore de Rochechouart

Non-Executive Director

United Kingdom Resident - is a partner of Res Familiaris LLP, a London based wealth and corporate management advisory boutique. Prior to joining Res Familiaris in 2010, Eleonore spent 20 years in the financial services industry as an economist, researcher and asset allocator in both the traditional and alternative investment arena. She started her career in 1992 at Dubin & Swieca Capital Management's branch in France, before joining Standard & Poor's Rating Agency in 1998. She was then appointed CIO of a French family office in 2003 before moving to London in 2010.

  • Mark Hadsley Chaplin

    Mark Hadsley-Chaplin

    Chairman

    United Kingdom resident – founded RWC Partners Ltd (formerly known as MPC Investors), a London based fund management firm specialising in hedge funds, long only funds and UCITS strategies, in 2000. He was CEO until 2006 and Chairman until 2010. Prior to this he was Vice Chairman of UBS Securities (East Asia) Ltd, based in Singapore and responsible for the management and development of the bank’s Asian equity business worldwide.
  • William Collins

    William Collins

    Senior Independent Director

    Guernsey resident – has over 45 years’ experience in banking and investment. From September 2007 he was employed by Bank J Safra Sarasin (formerly Bank Sarasin) in Guernsey as Director – Private Clients, retiring at the end of 2014. Prior to that he worked for Barings in Guernsey for over 18 years. In 1995 he was appointed a director and from 2003 until August 2007 was Managing Director of Baring Asset Management (CI) Ltd.
  • Helen Green

    Helen Green

    Non-Executive Director

    Guernsey resident - is a chartered accountant and has been employed by Saffrey Champness , a top 20 firm of chartered accountants since 1984. She qualified as a chartered accountant in 1988, and became a partner in the London office in 1998. Since 2000 she has been based in the Guernsey office where she is a Client Liaison Director, responsible for trust and company administration.

    She is a director of CQS Natural Resources Growth and Income PLC, Landore Resources Limited, UK Mortgages Limited and JP Morgan Global Core Real Assets Limited. She is Chairman of the Audit Committee.

  • Eleonore de Rochechouart

    Eleonore de Rochechouart

    Non-Executive Director

    United Kingdom Resident - is a partner of Res Familiaris LLP, a London based wealth and corporate management advisory boutique. Prior to joining Res Familiaris in 2010, Eleonore spent 20 years in the financial services industry as an economist, researcher and asset allocator in both the traditional and alternative investment arena. She started her career in 1992 at Dubin & Swieca Capital Management's branch in France, before joining Standard & Poor's Rating Agency in 1998. She was then appointed CIO of a French family office in 2003 before moving to London in 2010.

 

Financial calendar

Year End 31 October
Accounts Published January
Annual General Meeting February
Dividend Paid March, June, September, December

Trust details

Aberdeen Emerging Markets Investment Company Limited

Registered Office:
11 New Street
St Peter Port
Guernsey
GY1 2PF

Registered in Guernsey as an Investment Company Number 50900

Launch Date: November 2009
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.