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- Schroder Asia Pacific : SDP – annual results
SDP’s Annual results for the period ended 30 September 2013 have just been released. They show the company produced a return of 1.9% in net asset value terms and 3% in share price terms while the benchmark, the MSCI All Countries Asia ex Japan index, delivered a total return of 5.3%.
The manager says stock selection in Hong Kong, exposure to India and, to some extent, exposure to the Philippines was unhelpful though they did well from stock selection in Thailand and Indonesia. The manager has raised money from the portfolio to repay gearing. At the end of September the portfolio was underweight (relative to the benchmark) in China and Hong Kong.