Last checked at 27 Sep 2019 13:11
London, UK, 27 September 2019
Edison issues review on Invesco Asia Trust (IAT)
Invesco Asia Trust (IAT) aims to deliver significant capital returns to shareholders over the long term through investing in Asian equities, following a rigorous bottom-up process. The manager, Ian Hargreaves, is not constrained by index considerations and the portfolio of 50-70 stocks represents his highest-conviction investment ideas over a three- to five-year horizon. The trust has a solid medium- and long-term performance track record and has generated an annualised NAV total return of 11.3% over 10 years, while its dividend per share has more than doubled.
IAT currently trades on a discount to cum-income NAV of 13.4%, which wider than its three-year average of 11.7%. The trust's discount is also wider than many of its peers despite solid long-term performance. IAT's board has introduced a number of changes to broaden the appeal of the trust, which may help to narrow the discount over time.
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