Pacific Horizon Share Price (PHI)

LSKI IS LES ?

LSKI CLEANS UP

In the six months to 31 January 2011, Pacific Horizon's net asset value per share rose 10.8% while the MSCI All Country Far East ex Japan Index in sterling terms rose by 14.6%. The Company's share price rose by 13.2%.

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A number of the larger holdings such as Li & Fung and Samsung Electronics continued to perform well. Some individual industrial names and Indian holdings demonstrated disappointing short term performance.

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Earnings per share for the six months were 0.17p compared to 0.10p in the first half of the previous year. As in previous years, no interim dividend will be paid.

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Economic growth across the region has been robust, building upon the recovery since the global financial crisis.

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The Board and Managers believe that the quality of companies in which the Company invests remains high and overall valuations continue to be attractive for investors, notwithstanding the recent short term reversal in equity values in many of the region's markets.

Pacific Horizon lags its benchmark
Date: Friday 11 Mar 2011

LONDON (ShareCast) - Asia-Pacific and India-focused investment trust Pacific Horizon saw its net asset value (NAV) per share rise 10.8% in the six months to 31 January 2011, a performance that lagged its benchmark index, the MSCI All Country Far East excluding Japan, which rose by 14.6% in sterling terms over the same period.

Earnings per share for the six months were 0.17p compared to 0.10p in the first half of the previous year. As in previous years, no interim dividend will be paid.

The best performing markets were Taiwan, Korea and Thailand, which posted gains of 27.2%, 21.4% and 15.1% in sterling terms respectively. The weakest were Vietnam, India and China with returns of 0.3%, 1.4% and 2.8% respectively in sterling terms.

"The outlook remains bright for the markets of the Asia Pacific region. Economic performance is expected to be robust with the many structural drivers of growth continuing to present an attractive backdrop for our companies," the company said.

"The company remains ungeared with a low cash balance and expects to be able to take advantage of future opportunities as they arise," the statement added.