SST : Wee-Li back in charge as SST outperforms
Scottish Oriental Smaller Companies has managed to outperform its benchmark for the year that ended on 31 August 2014. Over the period the fund generated a return on net assets of 13.5% vs. 13.0% for the MSCI AC Asia ex Japan Smaller Companies Index. Shareholders did rather better than this though as the fund’s rating improved – their return wws 17.4%. The dividend was maintained at 11.5p.
Wee-Li Hee returned from maternity leave in May and resumed her position as co-manager of Scottish Oriental as from July 2014.
The manager’s report says the Trust benefited from its high weighting in India. The biggest contributions to performance came from AmorePacific, CMC, Tube Investments of India, EID Parry (India) and Marico. These each added between 0.9% and 2.2% to the fund. By contrast, the worst performing holding for the fund was Pacific Hospital which cost them 0.7%