Aberdeen Diversified Income and Growth Trust plc

Investing across asset classes aiming to deliver reliable income and growth

Daily prices as of 17 May 2022

Share Price 100.40p

Estimated NAV cum income 119.81p

Estimated NAV ex income 119.24p

Dividend Yield 5.6%

Premium / (Discount) to NAV cum income -16.2%

Premium / (Discount) to NAV ex income -15.8%

Source: Morningstar

About us

Find out more about our investment objective, approach, portfolio and performance.

Insights

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Latest news

An update from our investment manager, Jennifer Mernagh - 8 December 2021

We expect global growth to slow from here, and although we believe we’re past the peak of the recovery, growth might remain high on a relative basis.  The growth generated by the sudden reopening of economies, as well as the supportive policy backdrop, is resulting in higher inflation than anticipated, but we still believe that this inflation will be transitory in Developed Markets. The same is true for many Emerging Markets, some of which have been forced to raise interest rates to combat inflation and maintain central bank credibility, but we believe that their vaccination roll out is progressing well and that inflation also is likely to be transitory there as well. 

Turning to monetary policy, whilst we expect a less accommodative stance, particularly from the US Federal Reserve which has been key, we believe that it remains supportive, and that fiscal policy will take over in terms of market support in the long run.

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 the company 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 abrdn'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 abrdn on the Alternative Investment Management Association's Council, its Research Committee, and its Diversity & Inclusion Steering Group.

Nic Baddeley

Nic Baddeley

Investment Manager

From 2014, Nic has been involved in investment analysis and management, working across public and private asset classes. Nic is responsible for the management of private market portfolios undertaken by the Private Markets Solutions desk, as well as the continual development of investment processes, portfolio management and risk management techniques. Prior to joining the current team, Nic worked as an analyst with the global listed real estate team, responsible for sector coverage of the Chinese housebuilders, portfolio construction, and risk measurement. Prior to joining abrdn in 2015, Nic worked as a data scientist for global data consultancy, and as an investment analyst at Mercer focussing on strategy analysis and fund recommendations for institutional investors. Nic graduated from the University of Edinburgh with an MA (Hons) degree in Psychology and is a CFA® charterholder.

  • 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 the company 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 abrdn'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 abrdn on the Alternative Investment Management Association's Council, its Research Committee, and its Diversity & Inclusion Steering Group.

  • Nic Baddeley

    Nic Baddeley

    Investment Manager

    From 2014, Nic has been involved in investment analysis and management, working across public and private asset classes. Nic is responsible for the management of private market portfolios undertaken by the Private Markets Solutions desk, as well as the continual development of investment processes, portfolio management and risk management techniques. Prior to joining the current team, Nic worked as an analyst with the global listed real estate team, responsible for sector coverage of the Chinese housebuilders, portfolio construction, and risk measurement. Prior to joining abrdn in 2015, Nic worked as a data scientist for global data consultancy, and as an investment analyst at Mercer focussing on strategy analysis and fund recommendations for institutional investors. Nic graduated from the University of Edinburgh with an MA (Hons) degree in Psychology and is a CFA® charterholder.

Davina Walter

Davina Walter

Chairman

Appointed a Director on 1 February 2019, Senior Independent Director on 27 February 2019 and Chairman on 26 February 2020, Davina Walter is an experienced investment professional who has been actively involved with investment trusts since 1985 when she joined Henderson (now Janus Henderson) as a fund manager. She is a Director of JPMorgan Elect plc and Miton UK MicroCap Trust plc. She also acts as an independent investment consultant for charities. She started her career at Cazenove & Co, ending up as Head of US equity research, before spending over 16 years as an investment manager, most recently as a Managing Director at Deutsche Asset Management.

Trevor Bradley

Trevor Bradley

Independent Non-Executive 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.

Tom Challenor

Tom Challenor

Senior Independent Director and Chairman of the Audit Committee

Appointed a Director on 6 April 2017 following the merger with Aberdeen UK Tracker Trust plc, Tom became Chairman of the Audit Committee on 1 November 2018 and Senior Independent Director on 4 June 2021. Tom is Senior Independent Director of Euroclear (UK & International) 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.

Alistair Mackintosh

Alistair Mackintosh

Independent Non-Executive Director

Appointed a Director on 1 May 2021, Alistair Mackintosh was a partner with Actis LLP, a leading investor in growth markets across Africa, Asia and Latin America from its inception in 2004 until 2018. He served as Chief Investment Officer for twelve years, and chaired the Investment Committees of Actis' Private Equity, Infrastructure, Energy and Real Estate funds. Previously, Alistair spent fifteen years with PPM Capital Ltd (now Silverfleet Capital), the mid-market private equity business of Prudential plc.

Anna Troup

Anna Troup

Independent Non-Executive 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.

  • Davina Walter

    Davina Walter

    Chairman

    Appointed a Director on 1 February 2019, Senior Independent Director on 27 February 2019 and Chairman on 26 February 2020, Davina Walter is an experienced investment professional who has been actively involved with investment trusts since 1985 when she joined Henderson (now Janus Henderson) as a fund manager. She is a Director of JPMorgan Elect plc and Miton UK MicroCap Trust plc. She also acts as an independent investment consultant for charities. She started her career at Cazenove & Co, ending up as Head of US equity research, before spending over 16 years as an investment manager, most recently as a Managing Director at Deutsche Asset Management.

  • Trevor Bradley

    Trevor Bradley

    Independent Non-Executive 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.

  • Tom Challenor

    Tom Challenor

    Senior Independent Director and Chairman of the Audit Committee

    Appointed a Director on 6 April 2017 following the merger with Aberdeen UK Tracker Trust plc, Tom became Chairman of the Audit Committee on 1 November 2018 and Senior Independent Director on 4 June 2021. Tom is Senior Independent Director of Euroclear (UK & International) 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.

  • Alistair Mackintosh

    Alistair Mackintosh

    Independent Non-Executive Director

    Appointed a Director on 1 May 2021, Alistair Mackintosh was a partner with Actis LLP, a leading investor in growth markets across Africa, Asia and Latin America from its inception in 2004 until 2018. He served as Chief Investment Officer for twelve years, and chaired the Investment Committees of Actis' Private Equity, Infrastructure, Energy and Real Estate funds. Previously, Alistair spent fifteen years with PPM Capital Ltd (now Silverfleet Capital), the mid-market private equity business of Prudential plc.

  • Anna Troup

    Anna Troup

    Independent Non-Executive 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.

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.