Edison issues review on Invesco Asia Trust

RNS Number : 1818B

INVESCO Asia Trust PLC

14 June 2016

 

London, UK, 14 June 2016

Edison issues research review on Invesco Asia Trust

Invesco Asia Trust (IAT) seeks capital appreciation from a portfolio of Asia Pacific ex-Japan stocks, diversified by sector and geography. Despite investor concerns about slowing growth in the region, and China in particular, the manager is finding attractive investment opportunities. IAT's NAV has outperformed its benchmark over the short, medium and long term. In absolute terms, over 10 years both the NAV and share price have returned more than 10% pa. IAT has a 1.9% dividend yield, which compares favourably with its close peers.

IAT's current share price discount to ex-income NAV is 10.6%. This is modestly wider than its historical averages. The board targets a maximum average discount of 10% and manages this via share repurchases and tender offers. IAT has a solid performance record, which means there is scope for the discount to narrow if sentiment towards the Asia Pacific region improves. Although there is no formal dividend policy the annual dividend has been increased or maintained since 2001. IAT offers a dividend yield above the close peer-group average, currently 1.9%.  

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