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LONDON - abrdn Holdings Limited disclosed the indicative net gearing ratios for nine of its investment trusts as of July 4, 2025, according to a statement released Monday.
Shires Income plc reported the highest gearing level at 15.0% when debt is valued at par, and 14.9% when debt is valued at fair value. Aberdeen Equity Income Trust plc followed with a net gearing ratio of 12.0%, while Dunedin Income Growth Investment Trust PLC showed a ratio of 11.2% at par value and 9.4% at fair value.
Murray Income Trust PLC recorded a gearing ratio of 10.8% at par and 9.7% at fair value. abrdn Asia Focus PLC reported 7.6% at par and 7.0% at fair value, while abrdn UK Smaller Companies Growth Trust plc had a ratio of 6.7%.
Lower gearing levels were reported by Aberdeen Asian Income Fund Limited at 6.3%, Murray International Trust (LON:MYI) PLC at 5.7% (4.3% at fair value), and abrdn New India Investment Trust plc with the lowest ratio at 2.2%.
The gearing ratios were calculated in accordance with the Association of Investment Companies’ recommendations, with underlying financial assets valued on a fair value basis using bid prices or last trade basis where appropriate. Debt, net of cash held, was valued at par.
The company noted that for some trusts, only the debt at par value calculation was applicable, with no fair value alternative provided.
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