21st Apr 2022 14:44
Asia Dragon Trust PLC - Edinburgh, Scotland-based investor in Asian equity markets - Net asset value per share falls to 517.33 pence on February 28 from 566.60p on August 31. NAV total return in first half negative 7.7%, outperforming benchmark - the MSCI AC Asia Pacific (ex Japan) Index - which lost 8.1%.
"The portfolio holdings performed well due to their high-quality franchises and solid balance sheets. Many of them are beneficiaries of long-term structural trends that have been reinforced and hastened by the pandemic," company explains.
Company cites "an uncertain economic backdrop" that "resulted in a turbulent six month period for Asian markets".
Turns to interim loss on investment. For the half-year ended February 28, posts investment loss of GBP53.5 million compared to a profit of GBP143.3 million year-on-year. Interim income falls to GBP2.7 million from GBP4.8 million a year ago.
Current stock price: 424.33 pence, down 1.1% on Thursday
12-month change: down 19%
By Tom Budszus; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Asia Dragon