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LONDON (Alliance News) - Asian Total Return Investment Company PLC on Wednesday said its net asset value has "significantly" outperformed the MSCI AC Asia Pacific excluding Japan reference index since Schroders took full responsibility for managing its investments.
Since Schroders took full responsibility for managing the portfolio on March 31, 2013, the NAV has produced a total return of 6.3%, compared to a return of negative 2.6% from the index, Asian Total Return Investment Co said in a statement.
In 2015 alone, the company produced a net asset value total return of 2.9%, compared to a total return of negative 4.1% by the reference index, Asian Total Return Investment Co said.
Chairman David Brief called on shareholders to support the continuation of Asian Total Return Investment Co when they vote on the matter at the company's annual meeting on April 29.
"2016 has begun with the sharpest January fall in equity markets for many years. The small rise in US interest rates, slowing growth in China and elsewhere, the sharp fall in commodity prices, particularly oil, coupled to the historically elevated valuations in most developed markets has led to a loss of confidence among investors," Brief said.
"This is especially true in emerging markets which are dependent on commodities and those in Asia which are seen as impacted by China's problems. Falling markets also mean that valuations and hence future returns have become more attractive. We have no crystal ball and cannot predict when the Asian markets will finally bottom but valuations in Asia are reaching levels which our managers believe will represent a major long term buying opportunity," Brief said.
Shares in Asian Total Return Investment Co were up 2.2% at 206.52 pence on Wednesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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