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Aberdeen Standard Equity Income Trust (ASEI)

Business description

Aberdeen Standard Equity Income Trust (ASEI) aims to provide shareholders with an above-average income from their equity investment while also providing real growth in capital and income. It seeks to achieve this through a diversified portfolio of between 50 and 70 equity holdings. The benchmark is the FTSE AllShare index.

Stock data

Market cap.£205.3m
Last close417.50p
High / Low (52 weeks)511.0p / 389.5p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment trusts

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Company news

Investment summary

Aberdeen Standard Equity Income Trust (ASEI, formerly Standard Life Equity Income Trust [SLET]) has been managed by Thomas Moore since November 2011. He is bullish on the long-term outlook for the trust as the yield on the portfolio is the highest since the end of the global financial crisis in 2009, suggesting UK share prices are discounting a recession or another global crisis. The manager says that ASEI’s holdings – chosen from across the market cap spectrum – can be classified in one of three ‘buckets’: global yield (c 40% of the portfolio), domestic opportunities (c 30%) and uncorrelated value (c 30%), and he is finding good opportunities in all three. The trust’s revenue was higher than projected in FY18, leading to an annual dividend increase of 12.3%, which was much higher than the 7.5% compound annual growth rate over the last five years.

Last updated on 07/02/2019

Key management

Thomas Moore, Fund manager
Evan Bruce-Gardyne, Head of investment trusts

Company address

1 George Street
Edinburgh
EH2 2LL
United Kingdom
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