Invesco Asia Regulatory News (IAT)

London, UK, 19 March 2019

Edison issues review on Invesco Asia Trust (IAT)

Invesco Asia Trust (IAT) aims to provide significant capital returns over the long-term through investing in listed companies in Asia. It follows a rigorous bottom-up investment process with few constraints, to build a relatively concentrated 50-70 stock portfolio representing the manager's highest-conviction ideas over a three- to five-year horizon. The approach also emphasises the valuation discipline and favours cash-generative companies, which is reflected in the underlying portfolio yield of c 3%. IAT has increased its annual dividend in seven out of the past 10 years and over that time has delivered an annualised NAV total return of c 16%.

IAT is trading on a discount to ex-income NAV of 4.8%, which is below the three-year average of 10.6%. The board has a proactive approach to managing the discount and, under the new chairman Neil Rogan, has recently taken measures to broaden the trust's appeal. These include the introduction of an interim dividend (2.8p per share) and a tiered fee structure, reducing the fee for assets over £250m. The board also aims to raise the trust's profile, including increased direct engagement with individual investors. These efforts could help narrow the trust's discount.

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website

www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Helena Coles, +44 (0)20 3077 5700

Mel Jenner, +44 (0)20 3077 5720

investmenttrusts@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on:

LinkedIn https://www.linkedin.com/company/edison-investment-research 

Twitter www.twitter.com/Edison_Inv_Res 

YouTube www.youtube.com/edisonitv