Schroder Asia Pacific reports that its net asset value produced a total return of 40.9% compared to the benchmark (MSCI All Countries Asia ex Japan) total return of 36.6% and its share price produced a total return of 41.3%. The Directors recommend the payment of a final dividend of 4.75 pence.
The manager’s statement says that the primary contribution to outperformance of the benchmark came from stock selection with significant value added in China, Taiwan and Hong Kong, along with lesser impact from the Philippines, Indonesia and Korea. The main detractors were stock selection in India and Thailand; in both cases holdings in the telecom sector reflected adverse developments in terms of regulation and competitive intensity.
There is no mention of the contributions of individual holdings.
SDP : Schroder Asia Pacific benefits from Asia’s strong returns