Aberdeen Diversified Income and Growth Trust plc

Investing across asset classes aiming to deliver reliable income and growth

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Latest news

An update from our investment manager, Nalaka De Silva – 18 November 2020

October saw global equities posting their second month of negative performance since March, with concerns around resurgence of Covid-19 in Europe and associated tightening of lockdown measures; a lack of a further stimulus package in the US; and the uncertainty over the upcoming US election, some of the reasons cited as weighing on investor sentiment. However in recent weeks, stock markets have rallied on the prospect of a vaccine being made available in the near future.

Asset classes that contributed positively to performance during October were asset backed securities (ABS), Infrastructure and special opportunities. Listed equity and Emerging Market bonds contributed negatively. ABS produced a positive return and experienced very limited volatility in comparison with other asset classes. Infrastructure provide stable income return and Burford Capital, the litigation finance provider, announced that it expects to begin trading on the New York Stock Exchange in mid-October while also retaining its UK listing. The company also announced half year results for the listed entity and the unlisted holding shortly after month-end, with the listed shares rallying strongly and a significant valuation uplift recognised in the unlisted holding. Listed and Private Infrastructure contributed positively to the portfolio.

As part of the strategic review the portfolio has been simplified into four risk categories. Equity, Fixed Income and Credit, Alternative and Private Markets. The weights have been repositioned to target 10%,25%, 20% and 45% respectively. This revised asset allocation will provide stability to the NAV as we move through these volatile times. The increased exposure to private markets be implemented over the coming months, building around current portfolio with Private Credit and more diversified private markets exposure. The current portfolio has a strong foundation of income generating assets supporting the dividend strategy of the Trust.

About us

The diversified multi-asset investment trust

Aberdeen Diversified Income and Growth Trust is an investment company listed on the London Stock Exchange which aims to offer:

  • A genuinely diversified portfolio with access to alternative asset classes
  • An attractive dividend with the potential to grow
  • Volatility around half that of equities
  • The broad expertise of Aberdeen Standard Investments

Learn more about the portfolio

Key people

NalakaDeSilva

Nalaka De Silva

Head of Private Market Solutions

Nalaka is responsible for developing and implementing strategies across the Private Markets spectrum. This includes investments across Private Equity, Infrastructure, Real Estate, Natural Resources and Private Credit on a global basis. Solutions based strategies are designed around client outcomes including growth, income and proactive ESG strategies.

Nalaka joined Aberdeen Standard Investments in 2012. Prior to this, Nalaka held senior roles at Australian and European Investment management firms. He has lead M&A activity, off-market acquisitions and divestments of assets, offshore and onshore capital rising in debt and equity markets. Nalaka is a Qualified Chartered Accountant and holds a postgraduate degree in Commercial Law and Accounting.

Tony Foster

Tony Foster

Senior Investment Manager

Tony Foster is a Senior Investment Manager on the Diversified Multi-Asset Team within Aberdeen Solutions. His current research responsibilities include closed end funds for the Aberdeen Diversified Growth Fund and other multi-asset clients. Tony joined Aberdeen following the SWIP acquisition in April 2014. At SWIP, he managed a number of UK equity portfolios and also the Halifax Fund of Investment Trusts OEIC. Prior to joining SWIP in 2000, Tony spent nearly 12 years with Baillie Gifford working in the UK and Asia Pacific equity teams. His portfolio management responsibilities included a number of investment trusts.

Tony holds a First Class Honours BA in Metallurgy, Economics and Management from the University of Oxford and is an Associate of the UK Society of Investment Professionals.

Emma Scott

Emma Scott

Investment Manager

Emma is an Investment Manager on the Diversified Assets team at Aberdeen Standard Investments. Her research responsibilities include monitoring sector developments and providing regular updates of client investments in renewable infrastructure, property, private equity, insurance-linked securities and special opportunities including aircraft leasing and shipping. She also provides support in the areas of portfolio management, marketing and client reporting. Emma joined Aberdeen Asset Management in 2014 on the Graduate Scheme, gaining experience in Aberdeen's Private Equity, Property and Solutions teams.

Emma graduated with a MA (Hons), First Class, in Management from the University of St Andrews. Emma is a CAIA Charterholder.

  • Nalaka De Silva

    Head of Private Market Solutions

    Nalaka is responsible for developing and implementing strategies across the Private Markets spectrum. This includes investments across Private Equity, Infrastructure, Real Estate, Natural Resources and Private Credit on a global basis. Solutions based strategies are designed around client outcomes including growth, income and proactive ESG strategies.

    Nalaka joined Aberdeen Standard Investments in 2012. Prior to this, Nalaka held senior roles at Australian and European Investment management firms. He has lead M&A activity, off-market acquisitions and divestments of assets, offshore and onshore capital rising in debt and equity markets. Nalaka is a Qualified Chartered Accountant and holds a postgraduate degree in Commercial Law and Accounting.

  • Tony Foster

    Senior Investment Manager

    Tony Foster is a Senior Investment Manager on the Diversified Multi-Asset Team within Aberdeen Solutions. His current research responsibilities include closed end funds for the Aberdeen Diversified Growth Fund and other multi-asset clients. Tony joined Aberdeen following the SWIP acquisition in April 2014. At SWIP, he managed a number of UK equity portfolios and also the Halifax Fund of Investment Trusts OEIC. Prior to joining SWIP in 2000, Tony spent nearly 12 years with Baillie Gifford working in the UK and Asia Pacific equity teams. His portfolio management responsibilities included a number of investment trusts.

    Tony holds a First Class Honours BA in Metallurgy, Economics and Management from the University of Oxford and is an Associate of the UK Society of Investment Professionals.

  • Emma Scott

    Investment Manager

    Emma is an Investment Manager on the Diversified Assets team at Aberdeen Standard Investments. Her research responsibilities include monitoring sector developments and providing regular updates of client investments in renewable infrastructure, property, private equity, insurance-linked securities and special opportunities including aircraft leasing and shipping. She also provides support in the areas of portfolio management, marketing and client reporting. Emma joined Aberdeen Asset Management in 2014 on the Graduate Scheme, gaining experience in Aberdeen's Private Equity, Property and Solutions teams.

    Emma graduated with a MA (Hons), First Class, in Management from the University of St Andrews. Emma is a CAIA Charterholder.

Davina Walter

Davina Walter

Chairman

Davina Walter was appointed a Director on 1 February 2019 and Chairman on 26 February 2020. She is currently employed as an investment consultant having started her career at Cazenove & Co where she spent more than 11 years involved in US equity research. She spent over 16 years as an investment manager of US equity portfolios, most recently as a Managing Director at Deutsche Asset Management. She has been actively involved with investment trusts since 1985 and is currently Chairman of JPMorgan US Smaller Companies Investment Trust.

Tom Challenor

Tom Challenor

Chairman of Audit Committee

Appointed a Director on 6 April 2017 and Chairman of the Audit Committee on 1 November 2018, Tom is a director of Euroclear (UK & Ireland) Limited. He was formerly a director of Cofunds Limited, Xtrakter Limited and Threadneedle Lux (SICAV). During his career with Threadneedle Asset Management he was Director of Strategy and Risk from 2005-2009 and CFO from 1997-2005. Tom is a non-executive director of Threadneedle India Fund Limited

Julian Sinclair

Julian Sinclair

Senior Independent Director

Julian Sinclair was appointed a Director on 21 July 2015 and Senior Independent Director on 26 February 2020. He is Chief Investment Officer at Macdoch Group, prior to which he was Chief Investment Officer at Talisman Global Asset Management Limited, a Senior Portfolio Manager at BlueBay Asset Management plc and a Partner at Altima Partners LLP. He started his career at Gartmore as an analyst and portfolio manager.

Anna Troup

Anna Troup

Director

Appointed a Director on 1 August 2019, Anna Troup qualified as a lawyer with Slaughter and May. She has been employed in the financial services industry since 1997, having spent over 10 years at Goldman Sachs and more than 12 years as an investment management professional, most recently as head of UK Bespoke Solutions at Legal & General Investment Management. She is also an independent non executive director of T Bailey Fund Services.

Trevor Bradley

Trevor Bradley

Director

Appointed a Director on 1 August 2019, Trevor Bradley was a partner and member of the Management Board at Ruffer LLP. He was responsible for growing and leading the firm's institutional investment business and managed over £1 billion of multi-asset portfolios for pension funds, charities and other institutions. Prior to Ruffer, he was a management consultant at McKinsey & Company and a UK equity portfolio manager at Mercury Asset Management.

  • Davina Walter

    Chairman

    Davina Walter was appointed a Director on 1 February 2019 and Chairman on 26 February 2020. She is currently employed as an investment consultant having started her career at Cazenove & Co where she spent more than 11 years involved in US equity research. She spent over 16 years as an investment manager of US equity portfolios, most recently as a Managing Director at Deutsche Asset Management. She has been actively involved with investment trusts since 1985 and is currently Chairman of JPMorgan US Smaller Companies Investment Trust.

  • Tom Challenor

    Chairman of Audit Committee

    Appointed a Director on 6 April 2017 and Chairman of the Audit Committee on 1 November 2018, Tom is a director of Euroclear (UK & Ireland) Limited. He was formerly a director of Cofunds Limited, Xtrakter Limited and Threadneedle Lux (SICAV). During his career with Threadneedle Asset Management he was Director of Strategy and Risk from 2005-2009 and CFO from 1997-2005. Tom is a non-executive director of Threadneedle India Fund Limited

  • Julian Sinclair

    Senior Independent Director

    Julian Sinclair was appointed a Director on 21 July 2015 and Senior Independent Director on 26 February 2020. He is Chief Investment Officer at Macdoch Group, prior to which he was Chief Investment Officer at Talisman Global Asset Management Limited, a Senior Portfolio Manager at BlueBay Asset Management plc and a Partner at Altima Partners LLP. He started his career at Gartmore as an analyst and portfolio manager.

  • Anna Troup

    Director

    Appointed a Director on 1 August 2019, Anna Troup qualified as a lawyer with Slaughter and May. She has been employed in the financial services industry since 1997, having spent over 10 years at Goldman Sachs and more than 12 years as an investment management professional, most recently as head of UK Bespoke Solutions at Legal & General Investment Management. She is also an independent non executive director of T Bailey Fund Services.

  • Trevor Bradley

    Director

    Appointed a Director on 1 August 2019, Trevor Bradley was a partner and member of the Management Board at Ruffer LLP. He was responsible for growing and leading the firm's institutional investment business and managed over £1 billion of multi-asset portfolios for pension funds, charities and other institutions. Prior to Ruffer, he was a management consultant at McKinsey & Company and a UK equity portfolio manager at Mercury Asset Management.

Financial calendar

Year End 30 September
Accounts Published January
Annual General Meeting February
Dividend Paid January, March, July, October

Trust details

Aberdeen Diversified Income and Growth Trust plc

Registered Office:
1 George Street,
Edinburgh,
EH2 2LL

Registered in Scotland as an Investment Company Number SC003721

Launch Date: 1898

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.