Schroder AsiaPacific Fund

LN: SDP

£726.8m market cap

434p last close

Schroder AsiaPacific Fund aims to achieve capital growth through investment primarily in the equity of companies located in the continent of Asia (excluding the Middle East and Japan), together with the Far Eastern countries bordering the Pacific Ocean, with the aim of achieving growth in excess of the MSCI All Countries Asia excluding Japan index in sterling terms over the longer term. Until 30 January 2011 the benchmark was the MSCI Far East ex-Japan index, but it was changed to an index that included India to reflect the growing importance of the Indian stock market.

Investment summary

Schroder AsiaPacific Fund (SDP) invests in markets across the Asia Pacific region (excluding Japan) with the aim of achieving capital growth. Managed by Matthew Dobbs since launch in 1995, the trust is the largest and among the most liquid in its peer group. It has produced top-quartile NAV total returns over one, three and five years, also beating its benchmark MSCI AC Asia ex-Japan index over one, three, five and 10 years in both NAV and share price terms. In spite of this, it trades at a wider discount than the peer group average. The manager focuses on companies with visible earnings growth, strong management, sustainable cash flows and valuation support. While sector and geographical weightings are an output of stock selection, there is a significant allocation towards Greater China and the information technology sector. Reflecting the growing level of dividends from Asian companies, SDP has a yield of just over 1%.

Share price graph
Price performance
%
1m
3m
12m
Actual 7.2 9.9 (2.7)
Relative* 1.9 8.3 (2.8)
52-week high/low 481.0p/379.0p
*% relative to local index
Key management
Matthew Dobbs Fund manager

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