31st Mar 2025 12:48
(Alliance News) - abrdn Asia Focus PLC on Monday said it outperformed its benchmark index in the first half of its financial year despite turbulence in the global markets.
The investor in smaller, listed companies in Asia and Australasia said diluted net asset value per share increased 5.8% to 342.93 pence on January 31 from 324.26 pence on July 31.
The NAV total return was 7.1% during the period, beating the benchmark MSCI AC Asia Ex Japan Small Cap Index which lost 1.9%.
The firm also outperformed the larger cap MSCI AC Asia Ex Japan Index which rose 6.4%.
"The performance was even more welcome considering what a turbulent six months it was for global markets. Significant noise around geopolitics, tariffs and the interest rate outlook resulted in heightened volatility over this period," Chair Krishna Shanmuganathan said.
The firm said it has set a target dividend of at least 6.42 pence per share for the 2025 financial year, unchanged from the previous year.
"The board plans to maintain the progressive policy of the last 29 years in order to provide shareholders with a regular dividend and dependable level of income alongside the company's capital growth prospects," the chair said.
Looking ahead, abrdn Asia Focus said the fundamentals of its portfolio remain solid, with healthy growth in Asia, though investors may "be feeling unsure about markets at the moment".
It said Asian small companies "continue to be compelling".
Chair Krishna Shanmuganathan said: "More broadly, we maintain our view that many investors are still underestimating the benefits of allocating part of their capital to Asian small caps which have proven to be less correlated to mainstream equities and have offered superior returns to Asian large caps."
Shares in abrdn Asia Focus were down 1.0% to 289.15 pence in London on Monday afternoon.
By Michael Hennessey, Alliance News reporter
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