Aberdeen Global Dynamic Dividend Fund Announces Update On Transition, Performance Data And Portfolio Composition – Wire Real Estate

Aberdeen Global Dynamic Dividend Fund Announces Update On Transition, Performance Data And Portfolio Composition




Jun 13, 2019

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PHILADELPHIA, — Aberdeen Global Dynamic Dividend Fund¹ (the “Fund”) (NYSE: AGD), a closed-end equity fund, today provided updates on the Fund since the transition of management to Aberdeen Asset Managers Limited (“Aberdeen”) on May 4, 2018, (the “transition date”) including actions of the Board of Trustees in support of the Fund’s discount, and performance data and portfolio composition as of April 30, 2019.

  • On June 13, 2018, the Board of Trustees authorized management to make open market purchases, from time to time, up to 10% of the Fund’s shares of stock outstanding as of June 13, 2018. Share repurchases may be made opportunistically at certain discounts to NAV when management reasonably believes that such repurchases may enhance shareholder value. There is no assurance the Fund will purchase any shares or that the share repurchase program will have an impact on the liquidity or value of the Fund or the Fund’s share.  Share repurchase activity is disclosed monthly on the Fund’s website.
  • The Board of Trustees approved the Fund’s participation in the Aberdeen Investor Relations program.  This a comprehensive program which includes all forms of marketing promotion including direct shareholder and advisor engagement, communications and outreach, marketing collateral and promotional campaigns and industry event participation.  Dedicated marketing and product specialists work in coordination with Aberdeen’s external wholesale force to identify and support existing investors, key distribution partners, intermediary firms, research analysts, and other key gatekeepers, as well as potential buyers of the Fund by enhancing relationships directly with financial advisors and professional wealth managers, institutional investors, and other stakeholders.
  • The Board of Trustees approved an expense waiver agreement such that the expense ratio of the Fund (excluding leverage costs, taxes, interest, brokerage commissions and any non-routine expenses) will not exceed 1.16%.  This expense waiver serves to provide shareholders with assurance that the Fund’s expense ratio will be lower than the 2017 fiscal year and will not exceed this amount for a minimum period of two years from the transition date.

The Fund’s total returns for various periods through April 30, 2019 are provided below.  (All figures are based on distributions reinvested at the dividend reinvestment price, and are stated net-of-fees):

 

Cumulative as of 04/30/19 (%)

Annualized as of 04/30/19 (%)

 


Month


Month

YTD


Year

3 Years

5 Years

10
Years

Since 
Inception

NAV

3.5

3.8

13.3

3.1

11.3

7.9

9.8

1.9

Market Price

3.1

1.7

17.1

-1.2

12.6

7.5

7.3

0.5

MSCI AC World Index

3.4

7.6

16.2

5.6

12.0

7.5

11.7

6.7

As of April 30, 2019, the Fund’s net assets amounted to US$138.7 million with a net asset value per share of common stock of US$11.05.

As of April 30, 2019, the portfolio was invested as follows:

Portfolio Composition

Percent of 
Net Assets

Financials

17.4

Information Technology

12.9

Industrials

11.3

Health Care

11.0

Consumer Discretionary

9.8

Consumer Staples

8.4

Communication Services

7.0

Energy

6.8

Materials

5.9

Utilities

5.3

Real Estate

4.2

Country

Geographic Exposure %

United States

47.7

United Kingdom

7.5

France

7.1

Switzerland

5.5

Germany

4.0

Japan

3.8

Sweden

3.1

Canada

2.9

Finland

2.8

South Korea

2.4

Brazil

2.4

Spain

2.0

Mexico

1.3

Hong Kong

1.3

Singapore

1.3

Australia

1.2

Netherlands

1.0

Portugal

1.0

Indonesia

1.0

Norway

0.5

China

0.4

Italy

0.2

The Fund’s ten largest equity holdings as of April 30, 2019, representing 15.1% of total assets, were:

Holding

Percent of 
Net Assets

Apple

2.2

AXA

1.7

Bouygues

1.7

Microsoft Corp.

1.4

TE Connectivity Ltd.

1.4

Intel Corp.

1.4

Cisco Systems

1.3

Bayer AG

1.3

Broadcom

1.3

Infraestructura Energetica

1.3

Important Information
Aberdeen Standard Investments Inc. has prepared this report based on information sources believed to be accurate and reliable. However, the figures are unaudited and neither the Fund, its investment adviser, nor any other person guarantees their accuracy. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information. Aberdeen is a U.S. registered service mark of Aberdeen Asset Management PLC.

Aberdeen Standard Investments is a brand of the investment businesses of Standard Life Aberdeen plc, its affiliates and subsidiaries. In the United States, Aberdeen Standard Investments is the marketing name for the following affiliated, registered investment advisers:  Aberdeen Standard Investments Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard Investments Australia Ltd., Aberdeen Standard Investments (Asia) Ltd., Aberdeen Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Standard Life Investments (Corporate Funds) Ltd.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund’s investment return and principal value will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund’s portfolio. There is no assurance that the Fund will achieve its investment objective.

Past performance is no guarantee of future results.  Investment returns and principle value will fluctuate and shares, when sold, may be worth more or less than original cost. Current performance may be lower or higher than the performance quoted. NAV return data includes investment management fees, custodial charges and administrative fees (such as Director and legal fees) and assumes the reinvestment of all distributions. Returns for periods less than one year are not annualized. Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown.   Inception date July 26, 2006.

If you wish to receive this information electronically, please contact Investor.Relations@aberdeenstandard.com

aberdeenagd.com

1As of May 7, 2018, the Fund name changed from the Alpine Total Dynamic Dividend Fund.

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