28th May 2015 17:13
LONDON (Alliance News) - Schroder AsiaPacific Fund PLC said Thursday that it outperformed its benchmark in the half year to end-March.
The fund posted a total return on net asset value of 15.2% for the half year, outperforming the MSCI All Countries Asia (Excluding Japan) Index in sterling, which saw a total return of 14.8%.
The company said activity has been muted over the first half, and it has added to its Hong Kong and China exposure. It has continued to avoid the financial and infrastructure sensitive sectors in China. It remains overweight in India, continues to be very cautious on Malaysia and Korea, and is keeping its exposure to Taiwan to the information technology sector.
"Much of the recent stock market attention has been on a speculative bubble in China listed shares. Markets elsewhere in the region would benefit from evidence that Asia's long term potential is coming through as profit and dividend growth, assisted by lower oil prices," the fund said in a statement.
Shares in Schroder AsiaPacific Fund closed down 1.9% at 290.50 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Schroder AsiaPacific Fund