Edison issues review on Witan Pacific Inv. Trust

RNS Number : 8044M
Witan Pacific Investment Trust PLC
01 May 2018
 

 

                                                                                                               London, UK, 1 May 2018

Edison issues review on Witan Pacific Investment Trust (WPC)

Witan Pacific Investment Trust (WPC) has outperformed its MSCI AC Asia Pacific Free benchmark since adopting a multi-manager strategy at end-May 2005. However, following a period of relative weakness (particularly since mid-2016), the board has changed the external manager line-up (effective from end-September 2017). It is enthusiastic about the two new managers: Dalton Investments and Robeco Institutional Asset Management (and has continued confidence in incumbent managers Aberdeen and Matthews). The board is hopeful that the new line-up can build on WPC's long-term record of outperformance. WPC aims to generate long-term growth in both capital and income, and the regular annual dividend has increased in each of the last 13 years.

 

WPC's current 14.1% share price discount to cum-income NAV is wider than the averages of the last one, three and five years (range of 13.0% to 13.5%). The trust's board repurchases shares when they are trading at a substantial and anomalous discount. WPC has a progressive dividend policy; annual distributions have increased for the last 13 consecutive years. Its current dividend yield is 1.7%.


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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.

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For more information please contact Edison:

Mel Jenner, +44 (0)20 3077 5720

Gavin Wood, +44 (0)20 3681 2503

investmenttrusts@edisongroup.com

 

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