Aberdeen Diversified Income and Growth Trust plc

Investing across asset classes aiming to deliver reliable income and growth

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Annual General Meeting (AGM)

The 2021 Annual General Meeting had to be held behind closed doors but the Manager has prepared the following presentation which we hope shareholders find useful. The Board hopes, and intends, that the 2022 Annual General Meeting will be held in person.

The necessary resolution was passed at the AGM removing wording relating to Libor, due to the phasing out of its use, and changing the Company's investment objective from 23 February 2021 to: The Company seeks to provide income and capital appreciation over the long term through investment in a globally diversified multi-asset portfolio. At the same time the performance measure was also changed to: NAV total return (defined as change in NAV plus dividends reinvested) of 6% per annum over a rolling five year period.

Latest news

Chairman's Statement Highlights from the Annual Financial Results Year ending 30 September 2020

  • Covered dividend of 5.44 pence per share for the year, equating to a dividend yield of 5.9% as at the year end, further backed by two years' revenue reserves;
  • An increased quarterly dividend of 1.38 pence per share expected for the year ending 30 September 2021 in accordance with the Company's commitment to a progressive dividend policy;
  • Recent strategic review proposes amending the investment objective to focus on income and capital appreciation over the long term with private markets asset exposure increasing to around 55% over time as portfolio investments reach full drawdown and new opportunities are identified; and
  • Over 73% of the expensive fixed rate debt, in the form of the 6.25% Bonds 2031, repaid after the year end, resulting in lower interest payments, improved cash flows, reduced gearing risk and more flexible capital management allowing for increased share buybacks.

 

Read the full announcement via the link below:

About us

Aberdeen Diversified Income and Growth Trust seeks to provide income and capital appreciation through investment in a globally diversified multi-asset portfolio.

Our aim:

  • To provide our shareholder with a diversified portfolio of assets that investors are unable to access themselves using ASI's broad investment capability
  • To provide investors with a stable and growing dividend
  • To provide investors with NAV growth

 

Key differentiators:

  • Genuinely diversified across a range of a range of attractive asset classes
  • Globally diversified portfolio that spans Public and Private Markets
  • Harnessing ASI's substantial breadth and depth of resource

 

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.

Jennifer Mernagh

Jennifer Mernagh

Investment Director

Jennifer Mernagh is an Investment Manager in ASI's Multi-Asset Solutions Research team. She specialises in alternative investing, and is responsible for research that contributes to portfolios investing across public and private markets. Jennifer was previously a portfolio manager and member of the Global Macro investment team on the Alternative Investment Strategies desk. Prior to that Jen worked for RBS managing alternative investment portfolios on behalf of Coutts clients. Jen started her career as an Analyst at Sanlam, a South African financial services company. Jen graduated with a BSc in Investment and Financial Risk Management from City University. She represents ASI on the Alternative Investment Management Association's Council, its Research Committee, and its Diversity & Inclusion Steering Group.

  • 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.

  • Jennifer Mernagh

    Jennifer Mernagh

    Investment Director

    Jennifer Mernagh is an Investment Manager in ASI's Multi-Asset Solutions Research team. She specialises in alternative investing, and is responsible for research that contributes to portfolios investing across public and private markets. Jennifer was previously a portfolio manager and member of the Global Macro investment team on the Alternative Investment Strategies desk. Prior to that Jen worked for RBS managing alternative investment portfolios on behalf of Coutts clients. Jen started her career as an Analyst at Sanlam, a South African financial services company. Jen graduated with a BSc in Investment and Financial Risk Management from City University. She represents ASI on the Alternative Investment Management Association's Council, its Research Committee, and its Diversity & Inclusion Steering Group.

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

    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.

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.