Invesco Asia has released its results for the half year ended 31 October 2013. IAT outperformed over the period as the NAV returned 3.2%, the share price 2.6% and the benchmark lost 1.8%. The discount widened a little but the Board has reaffirmed its commitment to getting the fund to trade at a discount narrower than 10%.
The manager attributed IAT’s outperformance to stock selection in the IT (notably Baidu, the Chinese internet company) and Financial sectors.