The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Witan Pacific Net Assets Decline, But Total Return Beats Benchmark

Wed, 30th Sep 2015 14:21

LONDON (Alliance News) - Witan Pacific Investments Trust PLC Wednesday reported a decline in net asset value per share in the first half of its financial year, although its total return beat its benchmark.

The investment trust said that its net asset value per share declined in the six months to July 31 to 276.54 pence from 279.45p at January 31, which it said was due to falls in value in the mainland Asian and Australian markets in sterling terms.

The 0.2% decline in its NAV total return, did however beat the regional benchmark index which posted a 1.1% fall in total return.

"At the time of writing, there is market concern about the prospects for economic growth, causing significant market and currency moves in Asian markets," Chairman Sarah Bates said.

"However, our managers, when we visited them, were confident about the longer term growth in the region and the benefits of social and corporate reform, although they did express some concerns about the level of the Chinese "A" share market," she added.

"Despite the recent turbulence, we expect current conditions will provide opportunities for our managers and we retain our longer term perspective and confidence in the companies in which we can invest in the region," Bates said.

Shares in Witan were trading up 3.0% at 216.00 pence Wednesday afternoon.

By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews

Copyright 2015 Alliance News Limited. All Rights Reserved.

Related Shares

More News
1 Oct 2020 18:01

IN BRIEF: Witan Pacific To Buy 17.4 Million Shares Under Tender Offer

IN BRIEF: Witan Pacific To Buy 17.4 Million Shares Under Tender Offer

1 Oct 2020 16:00

UK Dividends Calendar - Next 7 Days

UK Dividends Calendar - Next 7 Days

15 Sep 2020 14:22

IN BRIEF: Witan Pacific Holds Payout And Beats Benchmark In First Half

IN BRIEF: Witan Pacific Holds Payout And Beats Benchmark In First Half

4 Aug 2020 16:01

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

22 Jul 2020 19:59

IN BRIEF: Witan Pacific Plans Shift To "China Growth Strategy"

IN BRIEF: Witan Pacific Plans Shift To "China Growth Strategy"

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.