Witan Pacific’s net assets stood at £220m (2018: £244m). Since 2005, Witan Pacific’s NAV total return of 218.7% compares favourably with the benchmark (215.7%).
Equity markets were volatile during the year, with the benchmark, the MSCI AC Asia Pacific Free Index, down 5.4% in sterling terms. The oil price reversed its gains, which reduced the company’s inflation concerns, and markets rallied in the final weeks of the financial year.
Although markets have made a strong start to 2019, ongoing macro-political concerns are likely to cause bouts of increased volatility.