Schroder Asian Total Return Outperforms Benchmark During 2017

28th Mar 2018 13:42

LONDON (Alliance News) - Schroder Asian Total Return Investment Company PLC said on Wednesday it outperformed its benchmark over 2017, though it warned "markets may prove more challenging this year".

The company said its net asset value total return for the year was 34.8%, outperforming the total return of 25.1% from the Reference Index and a total return of 29.9% from the average peer group NAV.

The share price produced a total return of 43.9%, and moved to a premium of 2.0% at the year end.

"Excellent stock picking offset the cost of our hedging instruments," the company said.

Schroder Asian recommended a final dividend of 4.80p per share for the year, an increase of 6.7% over the final divided of 4.50p per share paid in respect of the previous financial year.

"Following a year of strong absolute performance in 2017, achieved in spite of the protective hedging which underpins the investment policy, it is possible that markets may prove more challenging this year," the company said.

"Should this be the case, we remain confident that the derivative protection integrated into the investment strategy will be of comfort for those looking for long-term exposure to Asia with lower volatility than the Reference Index," the company added.

Shares in the company were down 1.3% at 353.00 pence on Wednesday.

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