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PACIFIC ASSETS TRUST PLC — Fund Information / Factsheet 2016
Sep 26, 2016
4682_rns_2016-09-26_681bc622-b0e3-4b54-9d79-f97253da94ab.pdf
Fund Information / Factsheet
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Pacific Assets Trust Plc
Shareholder Update
Investment Objective and Manager Profile
The investment objective of Pacific Assets Trust plc (the Trust) is to achieve long-term capital growth through investment in selected companies based in the Asia Pacific region and the Indian sub-continent, excluding Japan, Australia and New Zealand.
Stewart Investors*, which has been the Trust's Investment Manager since 1 July 2010, adopts a sustainable investment strategy in selecting the investments that make up the Trust's investment portfolio. Each investment is a decision to purchase part of a real business with all the rights and responsibilities that go with this 'share' of the ownership of the company.
The Trust invests in shares of companies which are positioned to benefit from, and contribute to, the sustainable development of the economies in which they operate. Investment decisions are based on identifying companies that manage risks and opportunities and contribute towards global human development without exceeding their ecological footprint.
*Stewart Investors is a team of investment professionals who manage funds on behalf of clients in Asia Pacific, Emerging Markets, Worldwide and Sustainable Development equity strategies. The team consists of members based in Edinburgh, London, Singapore and Sydney.
| Fund Information | |
|---|---|
| Trust Launch Date | 1984 |
| Total Net Assets (£M) | 282.1 |
| Benchmark | MSCI All Country Asia ex Japan |
| Number of Holdings | 61 |
| Share price (p) | 230.00 |
| NAV – cum income | 236.15 |
| (Discount) Premium% | (2.6%) |
| Sedol | 667438 |
| ISIN | GB0006674385 |
| Annual Management Fee | 0.90% |
| Ongoing Charges* | 1.30% |
*Calculated at the financial year end, includes management fees and all other operating expenses. Following simplifications to the fee structure proposed by Stewart Investors*, a performance fee is no longer charged.
Cumulative Performance (% in GBP) to 31 August 2016
| Period | Since Inception* |
5 yrs | 3 yrs | 1 yr | 6 mths |
3 mths |
|---|---|---|---|---|---|---|
| NAV | 110.1 | 96.7 | 55.3 | 29.3 | 25.1 | 18.7 |
| Share Price | 127.5 | 107.3 | 57.5 | 25.6 | 25.1 | 19.9 |
| Benchmark | 56.0 | 48.2 | 35.8 | 32.6 | 28.8 | 23.7 |
| Peer Group | 79.2 | 62.2 | 47.0 | 36.5 | 31.3 | 24.3 |
*Performance since inception, Stewart Investors was appointed as Investment Manager with effect from the 1st July 2010.
Standardised Discrete Performance to 31 August 2016
| Aug 11 to Aug 12 |
Aug 12 to Aug 13 |
Aug 13 to Aug 14 |
Aug 14 to Aug 15 |
Aug 15 to Aug 16 |
|
|---|---|---|---|---|---|
| NAV | 12.5 | 12.5 | 20.5 | -0.3 | 29.3 |
| Share Price | 7.6 | 22.3 | 18.7 | 5.7 | 25.6 |
| Benchmark | -0.6 | 9.8 | 12.9 | -9.4 | 32.6 |
| Peer Group | -1.9 | 12.4 | 15.8 | -6.9 | 36.5 |
NAV includes dividends reinvested, net of tax.
The benchmark shown is the MSCI AC Asia Ex Japan Index (Net). Peer group performance basis: share price, percentage growth, bid to bid, net income reinvested in Sterling.
Source: Bloomberg and Lipper. Past performance is not a guide to future performance.
10 Largest Holdings
| Stock name | % | Stock name | % |
|---|---|---|---|
| Vitasoy International | 6.1 | Chroma Ate | 3.2 |
| Marico | 5.8 | Kotak Mahindra Bank | 3.1 |
| Tech Mahindra | 5.0 | Dr Reddy's Laboratories | 3.1 |
| Standard Foods Corporation | 4.2 | Ayala Corporation | 3.0 |
| Taiwan Semiconductor | 3.8 | Manila Water Company | 2.9 |
| 40.2 |
Sector Breakdown
Country Breakdown
All non-performance related information shown above is sourced from Stewart Investors own records.
Pacific Assets Trust Plc
Shareholder Update
| For further information | ||
|---|---|---|
Client Services Team (UK): 0800 085 3880 Email: [email protected] Client Services Team (Overseas): +44 131 525 8873 Website: www.pacific-assets.co.uk
Important Information
Pacific Assets Trust plc (the "Trust") is an investment trust, incorporated in Scotland with registered number SC091052, whose shares have been admitted to the Official List of the London Stock Exchange plc. The Trust is an alternative investment fund for the purposes of the Alternative Investment Fund Managers Directive (AIFMD) and acts as its own alternative investment fund manager (AIFM). The Trust is registered as a small registered UK AIFM. The Trust has delegated certain portfolio management responsibilities to First State Investment Management (UK) Limited.
This report has been prepared and issued by Stewart Investors. Stewart Investors is a trading name of First State Investment Management (UK) Limited (company number SC47708) which is authorised and regulated in the United Kingdom by the Financial Conduct Authority. For more information please visit www.stewartinvestors.com. Telephone calls with Stewart Investors may be recorded.
The information contained in this document has been prepared by Stewart Investors for the use of those people who are United Kingdom residents for tax and investment purposes. Stewart Investors believes that the information provided is accurate as at the date of its publication, but no representation or warranty of accuracy is given by Stewart Investors or the Trust and therefore no liability in respect of any error or omission by a third party is accepted by Stewart Investors, the Trust or their affiliates or any of their directors, employees, consultants or agents. Any comments expressed reflect the views of Stewart Investors and should not be taken as any kind of recommendation or advice.
Please remember that the value of investments and the income from them may go down as well as up and that you may not get back the amount you originally invested. Past performance is not necessarily a guide to future performance. Changes in the rates of exchange between currencies may cause the value of investments to fluctuate.
Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Shares in companies in the Asia Pacific Region can prove volatile and above average price movements can be expected. There can be no assurance that the Trust's investment objective will be achieved and investment results may vary substantially over time. This document is for information purposes only and does not constitute an offer or invitation to purchase shares in the Trust and has not been prepared in connection with any such offer or invitation. Investment trust share prices may not fully reflect underlying net asset values.
If you are in any doubt about any of the information in this document, please consult your independent financial advisor or other such adviser authorised to give investment advice under the Financial Services and Markets Act 2000.
Absolute return mindset refers to our belief that capital preservation ought to be the foundation for long term capital gains. It does not guarantee or infer that a positive return will be achieved.