LONDON (Alliance News) - Invesco Asia Trust PLC Tuesday said its net asset value total return rose in the financial year ended April 30, and significantly outperformed its benchmark which declined during the period.
The trust said its net asset value total return rose 0.9% over the year, compared with its benchmark which declined 6.8% on a total return basis.
Its net asset value per share declined by 0.7% to 183.4 pence, from 184.6 pence a year earlier. Its benchmark declined by 9.7%.
Its shares price rose 2.0% in the period, which it said was a consequence both of the NAV growth and of the discount to capital NAV narrowing to 8.8% from 9.6% at the last year end.
"The board is positive on the outlook for Asian equity markets which it believes should continue to enjoy the support of medium-term structural trends, such as rising incomes and robust domestic consumption," the trust said in its statement.
Invesco Asia Trust shares were down 0.3% at 170.00 pence Tuesday early afternoon.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Invesco Asia (IAT)