Business Description:
Aberdeen Leaders Limited (ALR) is a listed investment company, which invests primarily in Australian companies within the S&P/ASX200 Index. The manager of the company is Aberdeen Asset Management Limited.

Strategy Analysis:
ALR invests mainly in blue chip Australian companies within the S&P/ASX 200 Index. The company is managed by Aberdeen Asset Management Ltd. The manager selects investments based on a bottom up process, and an evaluation through direct visits. As share price valuations become stretched, Aberdeen will invest in defensive, domestic, yield-playing companies with quality management and reasonable valuations. The company's ten largest investments at 31 August 2005 were: QBE (7.1% of portfolio), ANZ (7%), RIO (6.9%), BHP (6.9%), WBC (6.4%), WOW (5.5%). WDC (5.1%), TAH (5.1%), TEL (4.6%) and TLS (4.1%). The portfolio was weighted heavily towards the financials (ex Property Trusts) sector, accounting for 32.9% of the total portfolio's value. The rest of the portfolio was allocated as follows: Materials (13.8%), Consumer Staples (10.7%), Consumer Discretionary (9.4%), Industrials (9%), Telecom services (8.6%), Property Trusts (5%), Utilities (3%), Energy (3%) and net liquid assets (4.6%). Over the year to 31 August 2005, the portfolio returned 25.84%, compared to its benchmark ASX 200 Accumulation Index return of 30.53%.