Schroder Asian Total Return Investment Co PLC - invests in equities and equity-related securities of companies trading in the Asia Pacific region, excluding Japan - Net asset value per share falls to 416.45 pence at June 30 from 507.24p at December 31, 2021 down 18%. Cites high inflation and commodity prices. NAV per share total return is negative 16%, underperforming its benchmark, which returns negative 8.5%.
Pays final dividend of 8.5 pence per share for 2021, up from 7.1p paid for 2020. Does not recommend an interim dividend, unchanged a year before.
Chair Sarah MacAulay notes: "Concern over slowing global economic growth, rising inflation, tight labour markets and high commodity prices continues to overhang the outlook for corporate earnings. In addition, China's zero-tolerance Covid policy has detrimentally impacted economic activity in the region."
Looking ahead, she states: "However, Asian equity valuations are increasingly attractive and we have confidence that the considerable investment experience of our portfolio managers, supported by an extensive team of Asian-based research analysts, makes them well positioned to find the most attractive stock selection opportunities across the region."
Current stock price: 420.58 pence, up 0.5% on Friday
12-month change: down 15%
By Tom Budszus; tombudszus@alliancenews.com
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Schroder Asian (ATR)