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 FAQs

Aberdeen believes it is important for investors to understand their investments. To help with this, we have links listed below to answers to frequently asked questions, which may address your immediate questions.

 

What type of Australian investment vehicles are managed by Aberdeen Asset Management?
Aberdeen Asset Management manages the following investment companies and Managed Investment Scheme.

Listed Investment Company

Managed Funds (unit trusts)

Aberdeen Leaders Limited Aberdeen Australian Equities Fund
Aberdeen Ex-20 Australian Equities Fund*
Aberdeen Australian Small Companies Fund
Aberdeen Financials Fund
Aberdeen Asian Opportunities Fund
Aberdeen China Opportunities Fund
Aberdeen Emerging Opportunities Fund
Aberdeen Actively Hedged International Equities Fund
Aberdeen Fully Hedged International Equities Fund
Aberdeen International Equity Fund
Aberdeen Australian Fixed Income Fund
Aberdeen Total Return Fixed Income Fund
Aberdeen Australian Floating Rate Income Fund
Aberdeen Diversified Fixed Income Fund
Aberdeen Global Investment Grade Credit Bond Fund
Aberdeen Inflation Linked Bond Fund
Aberdeen Income-Focused Bond Fund
Aberdeen Global Government Bond Fund
Aberdeen Multi-Asset Real Return Fund
Aberdeen Multi-Asset Income Fund
Aberdeen Select Investment Actively Hedged International Equities Fund

* Prior to 1 August 2014 the Fund was known as the Aberdeen Classic Series Australian Equities Fund.

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What are some of the key differences between an investment company and a unit trust?
Investment companies and unit trusts are vehicles used for pooling investments to assist with diversification of risk for individual investors. An investment company does not normally issue new shares or buy-back outstanding shares to meet investor demand. A new investor in an investment company purchases shares on the stock market at a price at which another shareholder is willing to sell. A unit trust in contrast issues new units or buys back (redeems) outstanding units to meet buy and sell orders.

An investment company is also subject to company tax on investment income and capital gains and losses from its investment portfolio. A unit trust is not normally taxed on investment income or capital gains because it must distribute all taxable gains to its unitholders who are then subject to tax on these distributions on a personal basis.

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How do I invest in Aberdeen Leaders Limited?
Aberdeen Leaders Limited is listed on the Australian Stock Exchange and shares can be purchased and sold in the same way as any other listed share by placing an order with a stockbroker.

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How do I invest in an Aberdeen unit trust?
Applications for investment in Aberdeen's unit trusts are made by completing an Application Form for the relevant Fund. This should be presented to your financial planner or directly to Aberdeen Asset Management together with the accompanying payment. For all products, the application is processed on the same day if it is received by us by 2.00pm on a given business day, or the following business day if it is received after 2.00pm.

Please refer to the latest PDS for the relevant fund(s) you are interested in. Link back to Aberdeen Funds

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How do I sell (redeem) units in an Aberdeen unit trust?
Units are redeemed by submitting a written application to sell (redeem) units. The application must specify the name of the holder, name of the unit trust, number of units and the account number and be signed by the registered unit holder/s or their authorised agent. For all products (as stated above), the application is processed on the same day if it is received by the unit trust registry service by 2.00pm on a given business day, or the following business day if it is received after 2.00pm.

Please refer to the relevant PDS for information about limitations on redemptions. Redemption forms can be downloaded from this website.

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How long does it take to receive payment after I have submitted an application to redeem units?
Payment is usually made within 10 business days of the receipt and acceptance of the withdrawal request. There may, however, be delays for some larger redemptions depending on market liquidity.

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What is the NAV of a fund or NTA of an investment company?
For a fund, the NAV stands for the Net Asset Value per unit. The NAV is determined by adding the value of all investments valued at their market prices on the valuation date, less any identified costs, and dividing by the number of units currently held by investors. The market value of shares and bonds held in a portfolio is determined using the last quoted price on the day before valuation.

For an investment company, the NTA stands for the Net Tangible Assets per share. The NTA is determined by adding the value of all investments valued at their market prices on the valuation date, less any costs and taxes, and dividing by the number of shares issued by the company. The market value of shares and bonds held in a portfolio is determined using the last quoted price on the day before valuation.

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Why is there a different price quoted for the purchase and sale of units in Aberdeen's unit trusts?

When the unit trust accepts cash from the sale of new units or is required to raise cash to pay for the redemption of outstanding units the investment manager must normally purchase additional investment securities or dispose of such securities respectively.

The purchase or disposal of these securities results in certain costs such as brokerage, and settlement and clearing costs. These costs must be borne by the investor making the purchase or sale of the units rather than all unitholders, in general. The difference in the quoted purchase and sale price for units therefore reflects the recovery by the fund of the costs involved in acquiring or disposing of investment securities in relation to the purchase or sale of units.

A mid-price per unit is also quoted. This normally falls half-way between the quoted sale and purchase prices of the units. The mid-price represents the actual net asset value per unit.

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How often does Aberdeen Leaders Limited determine its NTA?
The NTA for Aberdeen Leaders Limited is determined at the end of each week and each calendar month.

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How do I obtain the latest share prices of Aberdeen Leaders Limited?
The share price is published in the Australian Financial review on a daily basis or can be obtained from the Australian Stock Exchange's web site (http://www.asx.com.au). Use the stock symbol ALR for Aberdeen Leaders Limited.

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Why does the share price of Aberdeen Leaders Limited differ from the NTA?
The share price of Aberdeen Leaders Limited differs from the NTA because the share price reflects the demand and supply of shares in the investment company rather than the value of the investments held in the portfolio. In theory, the share price will closely reflect the NTA when supply and demand are in balance.

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How often do Aberdeen unit trusts determine their unit prices?
The unit prices of all Aberdeen trusts are determined on a daily basis. The daily schedule of unit trust prices is available on this site.

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How often do Aberdeen's funds pay dividends or make distributions?

Managed Funds

Frequency

Aberdeen Australian Equities Fund Half Yearly
Aberdeen Ex-20 Australian Equities Fund* Half Yearly
Aberdeen Australian Small Companies Fund Half Yearly
Aberdeen Financials Fund Quarterly
Aberdeen Asian Opportunities Fund Annually
Aberdeen China Opportunities Fund Annually
Aberdeen Emerging Opportunities Fund Annually
Aberdeen Actively Hedged International Equities Fund Annually
Aberdeen Fully Hedged International Equities Fund Annually
Aberdeen International Equity Fund Annually
Aberdeen Australian Fixed Income Fund Quarterly
Aberdeen Total Return Fixed Income Fund Half Yearly
Aberdeen Australian Floating Rate Income Fund Monthly
Aberdeen Diversified Fixed Income Fund Quarterly
Aberdeen Global Investment Grade Credit Bond Fund Half Yearly
Aberdeen Inflation Linked Bond Fund Half Yearly
Aberdeen Income-Focused Bond Fund Half Yearly
Aberdeen Global Government Bond Fund Half Yearly
Aberdeen Multi-Asset Real Return Fund Half Yearly
Aberdeen Multi-Asset Income Fund Monthly
Aberdeen Select Investment Actively Hedged International Equities Fund Annually

* Prior to 1 August 2014 the Fund was known as the Aberdeen Classic Series Australian Equities Fund.

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Does Aberdeen Leaders Limited have a dividend reinvestment plan?
It does. Under the plan dividends are reinvested on the market by Aberdeen over a period after the payment of the dividend. The shares granted in lieu of dividend are exchanged at the average purchase price paid for the share purchased in respect to the plan. Applications must be received by 4pm on the dividend record date to be eligible to participate in the Dividend Reinvestment Plan (DRP) for that dividend.

Shareholders may normally enter the plan by submitting a request in writing to the company share registrar:

Aberdeen Leaders Limited Share Registry
C/- Registries Limited
Level 7
207 Kent Street
Sydney NSW 2000

or
GPO Box 3993
Sydney NSW 2001

or telephone Aberdeen on 1800 636 888 to request a DRP Form.

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Do the Aberdeen unit trusts offer a distribution reinvestment plan?
They do. Unit holders can participate by indicating on their application form at the time they apply for the units in the Fund. Investors can change their preference at any time by sending or faxing the request to change to:

Aberdeen Asset Management
c/- RBC Dexia Investor Services
GPO Box 4600
Melbourne VIC 3001

Fax: (02) 8262 5433

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How do I contact Aberdeen?
If you need more information about our company or any of our products, please contact our client service team at:

Aberdeen Asset Management Limited
Level 6 (Street Level)
201 Kent Street
Sydney, NSW, 2000

Mailing Address:
GPO Box 4306
Sydney NSW 2001
Australia

Client Services (toll free): 1800 636 888
If calling from outside Australia: +61 2 9950 2853
Corporate reception: +61 2 9950 2888
Fax: +61 2 9950 2800
Email: client.service.aust@aberdeen-asset.com

Or use our Customer Enquiry Form

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