Aberdeen New India bullish after fall in value

Aberdeen New India Investment Trust, which is managed by Aberdeen Standard Investments, is confident it will come through the coronavirus crisis in “relatively better shape” after reporting a double-digit fall in net asset value.

For the year ended 31 March, the fund’s net asset value fell 22.7 per cent, though that was better than the 27.3 per cent slide suffered by its benchmark, the MSCI India Index. The share price total return declined 28.9 per cent.

Over the longer-term, taking the ten years to 31 July, the share price increase is 90.5 per cent compared to the benchmark’s increase of 55.6 per cent.

Chairman Hasan Askari said: “I am confident that your company will come through this crisis in relatively better shape, given the manager’s proprietary research platform, manned by a wellresourcedandexperienced team that has navigated many past crises successfully. For the longer-term, India exhibits several structurally positive trends in its favour.”