Last checked at 16 Mar 2020 15:57
London, UK, 16 March 2020
Edison issues review on Invesco Asia Trust (IAT)
Invesco Asia Trust's (IAT's) primary objective is to deliver long-term capital returns through investing in Asian companies that are worth more than the market believes, following a rigorous bottom-up process. Over the past 10 years the trust has generated an annualised NAV total return of 10%. Investor sentiment towards Asian equities has suffered from an extended period of negative events, including trade disputes, political protests in Hong Kong and, more recently, the outbreak of the coronavirus. The manager, Ian Hargreaves, has a long-term investment horizon and believes golden opportunities are presenting themselves in this environment.
IAT currently trades on an 11.5% discount to cum-income NAV, which is significantly in line with the three-year average of 11.6%. The discount appeared to be on a narrowing trend following the board's efforts to broaden the appeal of the trust in late 2018; however, sentiment for Asian equities is currently weak and there is scope for the discount to narrow should this improve.
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