Aberdeen Standard Asia Focus trust proposes package of reforms to make trust 'more competitive'

Amending investment policy

The board of the £555.3m Aberdeen Standard Asia Focus trust has put forward a package of reforms as it looks to make the trust “more competitive” and give shareholders, particularly retail, “more meaningful participation” in the trust’s success.

The trust is trading on a 12.7% discount, according to the Association of Investment Companies (AIC), the largest discount of the three trusts that sit in the Asia Pacific Smaller Companies AIC sector. The board said it conducted a "comprehensive review" of the trust's long-term strategy, consulting with abrdn, outside specialists in the Asian markets and the company's major shareholders. Following the review, the board is recommending the investment policy be amended to allow the manager to invest in "growing" smaller companies. The managers are currently restricted to companies with...