15th Oct 2014 15:22
LONDON (Alliance News) - Aberdeen New Thai Investment Trust PLC Wednesday said its net asset value gained 24.3% in the six months ended August 31, just slightly underperforming its benchmark during the period.
The investment objective of the company is to provide shareholders with a high level of long-term, above-average capital growth through investment in Thailand.
The UK-based investment trust said its benchmark, the Stock Exchange of Thailand index, rose by 24.5% on a sterling-adjusted total return basis during the period.
It said its share price increased by 25.3% on a total return basis, to reach 434.25 pence.
"Notably, over the last three years, your company's NAV total return was 58.8% compared to the benchmark return of 49.3%," the company said a statement. "This reflects the value added over the longer term by your manager's disciplined investment strategy".
The company said Thai stocks gained steadily throughout the six month period, as both domestic and foreign investors appeared to shrug off both the chaotic political backdrop and largely tepid economy.
The company's stock was down 0.5% at 433.00 pence Wednesday late afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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