PHILADELPHIA, March 22, 2019 /PRNewswire/ -- Aberdeen
Global Dynamic Dividend FundĀ¹ (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 February 28,
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
February 28, 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
02/28/19 (%)
|
Annualized as of
02/28/19 (%)
|
|
1 Month
|
3 Month
|
YTD
|
1
Year
|
3 Years
|
5 Years
|
10
Years
|
Since
Inception
|
NAV
|
0.7
|
1.8
|
9.8
|
0.4
|
13.5
|
7.4
|
10.7
|
1.7
|
Market
Price
|
-0.2
|
4.5
|
14.9
|
-4.5
|
15.8
|
7.6
|
8.9
|
0.3
|
MSCI AC
World Index
|
2.7
|
3.1
|
10.9
|
-0.3
|
13.5
|
6.9
|
13.3
|
6.4
|
As of February 28, 2019, the
Fund's net assets amounted to US$136.3
million with a net asset value per share of common stock of
US$10.86.
As of February 28, 2019, the
portfolio was invested as follows:
Portfolio
Composition
|
Percent of
Net Assets
|
Financials
|
16.8
|
Information
Technology
|
13.4
|
Health
Care
|
11.7
|
Industrials
|
11.7
|
Consumer
Discretionary
|
9.6
|
Consumer
Staples
|
8.1
|
Energy
|
7.0
|
Communication
Services
|
6.3
|
Materials
|
6.0
|
Utilities
|
5.4
|
Real
Estate
|
4.0
|
Country
|
Geographic
Exposure %
|
United
States
|
46.7
|
United
Kingdom
|
8.9
|
France
|
6.3
|
Switzerland
|
6.0
|
Japan
|
4.5
|
Germany
|
3.1
|
Sweden
|
3.0
|
Canada
|
2.9
|
Brazil
|
2.9
|
Finland
|
2.6
|
South
Korea
|
2.5
|
Spain
|
1.9
|
Hong Kong
|
1.2
|
Singapore
|
1.2
|
Mexico
|
1.1
|
Australia
|
1.1
|
Indonesia
|
1.0
|
Netherlands
|
0.9
|
Portugal
|
0.9
|
Italy
|
0.7
|
China
|
0.5
|
The Fund's ten largest equity holdings as of February 28, 2019, representing 14.0% of total
assets, were:
Holding
|
Percent of
Net Assets
|
Apple
|
1.9
|
Intel
Corp.
|
1.4
|
LG
Chemical
|
1.4
|
Rio Tinto
|
1.4
|
Delphi
Technologies
|
1.4
|
Enbridge
|
1.3
|
Zurich Insurance
Group
|
1.3
|
Kinder
Morgan
|
1.3
|
Vodafone
|
1.3
|
AIA Group
|
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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SOURCE Aberdeen Global Dynamic Dividend Fund