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LONDON - abrdn Holdings Limited disclosed the indicative net gearing ratios for nine investment companies as of June 13, according to a statement released Monday.
The ratios, calculated using Association of Investment Companies recommendations, show varying levels of leverage across the firm’s investment trust portfolio.
Shires Income plc reported the highest net gearing ratio at 15.3% when debt is valued at par, and 15.1% when debt is valued at fair value. abrdn Equity Income Trust plc followed with a ratio of 12.7%, while Dunedin Income Growth Investment Trust PLC showed a 10.8% ratio at par and 9.1% at fair value.
Murray Income Trust PLC registered a 10.3% ratio at par and 9.1% at fair value, while abrdn UK Smaller Companies Growth Trust plc reported 6.2%. Murray International Trust (LON:MYI) PLC showed a ratio of 5.8% at par and 4.3% at fair value.
Lower gearing levels were reported by abrdn Asia Focus PLC (5.2% at par, 4.7% at fair value), Aberdeen Asian Income Fund Limited (4.9%), and abrdn New India Investment Trust plc with the lowest ratio at 3.4%.
The company noted that underlying financial assets were valued using bid prices or last trade basis where more appropriate, while debt was valued at par net of cash held.
The gearing disclosures were made through the London Stock Exchange (LON:LSEG)’s news service, with the ratios representing the investment companies’ positions as of the close of business on Friday, June 13.
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