In QuotedData’s morning briefing 21 May 2024:
- Schroder AsiaPacific Fund (SDP) announced its interim report for the six months to 31 March 2024. Over the period, the company’s NAV per share total return was 5.7%, slightly ahead of the 5.3% total return from the benchmark. The share price produced a total return of 4.4% over the period. The company continued to be active in buying back its shares during the period and a total of 3,582,000 shares were purchased for cancellation over that time at a cost of £17,312,000. Commenting on the results, chairman James Williams noted that prospects for Asian markets remain challenging, with newsflow from China dominating the region. He said that the Chinese economy continues to disappoint many investors, that consumer confidence is still extremely weak, and the property market is yet to find a floor and geopolitical tensions weigh heavily on sentiment. However, he believes expectations for the Chinese economy are now reflected in stock prices and any positive news could bring opportunity.
- Further to the announcement made on 14 May 2024, the Henderson European Focus Trust (HEFT) has released a prospectus in connection with the proposed merger of interests with Henderson EuroTrust (HNE). This provides the company’s shareholders with further details of the proposals. A general meeting of the company will take place on 11:00 a.m. 19 June 2024 to seek approval for the proposals. The prospectus can be found on the company’s website.