IN BRIEF: Pacific Horizon misses index but outlook good for India
Pacific Horizon Investment Trust PLC - Edinburgh-based investment trust owned by Baillie Gifford & Co - Net asset value per share rises in year ended July 31, to 664.01 pence at July 31 from 637.18p on the same day one year prior. Reports positive 4.8% NAV total return for the year, swinging from negative 3.6% the year before but underperforming against positive 6.8% from the MSCI All Country Asia ex Japan index. Says notable positive contributors to portfolio's performance were holdings in various Indian property developers. Notable detractors included its underweight position in Taiwan Semiconductor Manufacturing Company Ltd, plus holdings in Chinese firms Li-Ning and Ping An Insurance. Firm says earnings totalled 3.82p per share, down 16% annually from 4.56p. Declares final dividend of 2.65p, down 18% from 3.25p the prior year. Read More