Fact sheet: Pacific Assets IT

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
ASIA EQUITIES
Sector
IT Asia Pacific excluding Japan Equities
Fund type
Investment Trust
Primary aim
GROWTH
Why Money Observer Rates Pacific Assets IT

Rated Fund 2014-2017. A double award winner focused on sustainability

This trust won Money Observer's Best Asia Pacific Trust award in 2015 and 2016. It has been managed since 2010 by David Gait and Sashi Reddy at Stewart Investors (formerly known as First State Stewart).

The whole Stewart Investors team is committed to investing in quality companies with high standards of corporate governance, but as a leading member of the sustainability team, Gait puts a particular emphasis on this aspect of the investment process.

This entails investing in the shares of companies that contribute towards global human development without having an excessive impact on the environment.

The managers look for companies that are positioned to benefit from, and contribute to, the sustainable development of the economies they operate in.

They believe the sustainability of companies defines their quality and plays an important role in determining their future growth. This approach to investing can cause periods of short-term underperformance, but they are convinced it produces the best long-term results.

The managers also focus on determining the quality of a company, which involves assessing its management, franchise and finances.

They are very conscious of their responsibilities as investors. They point out that each investment decision brings rights and responsibilities that go with shared ownership of a company. The team therefore seeks to nurture a constructive long-term relationship with the managers of investee companies.

3 Year Performance
Fund Performance34.8%
Average of Rated Funds Group47.5%
Sector Performance44.4%
Fund information
Fund name
Pacific Assets Trust plc Ord
Fund manager company
Frostrow Capital LLP
Fund type
Investment Trust
Fund managers
  • Stewart Investorssince 30/06/2010
Accolades
Winner - Best Asia Pacific Trust 
Winner - Regular savings Developing Markets
Fund objective
The Client’s investment objective is to achieve long-term capital growth through investment in selected companies in the Asia Pacific region and the Indian sub-continent, but excluding Japan, Australia and New Zealand (the ‘Asia-Pacific Region’). Up to a maximum of 20% of the Client’s total assets (at the time of investment) may be invested in companies incorporated and/or listed outside of the Asia Pacific Region (as defined); at least 25% of their economic activities (at the time of investment) are within the Asia Pacific Region and this proportion is expected to grow significantly over the longer term.
Benchmark
  • MSCI AC Asia ex Japan
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
8.5%
1 Year rank in sector
11/15
Sector
IT Asia Pacific excluding Japan Equities
Yield
1%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.3%
Fund size
£0m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
131
Mid price
257
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
262.23
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
-1.99
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
100
Top in this sector
Fund name1 Year
Pac Hrzn IT PLC45.9%
ScrdrAsnTtlRetnInvstCo34.6%
JP Morgan Asian IT plc30.7%
Schroder Asia Pacific27.3%
Invesco Asia Trust plc19.1%
...more in IT Asia Pacific excluding Japan Equities

Performance snapshot

Holdings snapshot

  • India33.7%
    Taiwan17.9%
    Money Market10.2%
    Philippines7.4%
    Hong Kong6.5%
  • Consumer Staples26.5%
    Financials21.9%
    Information Technology19.8%
    Cash & Cash Equivalents10.2%
    Health Care6.6%
  • Indian Equities33.7%
    Taiwanese Equities17.9%
    Money Market10.2%
    Philippine Equities7.4%
    Hong Kong Equities6.5%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.9%2.6%0.3%8.5%34.8%85.8%
Sector-3.7%-0.4%3.7%16.9%44.4%59.4%
Rank within sector2 / 151 / 1511 / 1511 / 1511 / 155 / 15
Quartile1st1st3rd3rd3rd2nd
Calendar performance
 YTD - 20182017201620152014
Fund-1.9%10.4%28.5%2.1%23.5%
Sector-1.5%26%28.9%-6.1%11.7%
Rank within sector9 / 1515 / 156 / 152 / 151 / 15
Quartile3rd4th2nd1st1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-1.82
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.93
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.43
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
15.78
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
9.14
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.33
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.66
Price movement
52 week high265
52 week low237.25
Current bid price256
Current offer price257
Current mid price257
Region
1India33.7%
2Taiwan17.9%
3Money Market10.2%
4Philippines7.4%
5Hong Kong6.5%
6Others6.4%
7Bangladesh4.8%
8Indonesia4.8%
9Sri Lanka2.9%
Industry sector
1Consumer Staples26.5%
2Financials21.9%
3Information Technology19.8%
4Cash & Cash Equivalents10.2%
5Health Care6.6%
6Consumer Discretionary5.9%
7Industrials3.8%
8Utilities2.3%
9Materials1.3%
Asset type
1Indian Equities33.7%
2Taiwanese Equities17.9%
3Money Market10.2%
4Philippine Equities7.4%
5Hong Kong Equities6.5%
6International Equities6.4%
7Asia Pacific Equities4.8%
8Indonesian Equities4.8%
9Asia Pacific Emerging Equities2.9%
Individual holdings
1VITASOY INTERNATIONAL HOLDINGS6.5%
2TECH MAHINDRA5%
3MARICO BANGLADESH LIMITED3.7%
4STANDARD FOODS CORPORATION3.7%
5CHROMA ATE INC3.3%
6E SUN FINANCIAL HLDGS2.7%
7TAIWAN SEMICONDUCTOR CO2.6%
8UNICHARM CORP2.6%
9KOTAK MAHINDRA BANK2.4%
Management
Fund manager group
Frostrow Capital
Fund manager company
Frostrow Capital LLP
Fund type
Investment Trust
Fund objective
The Client’s investment objective is to achieve long-term capital growth through investment in selected companies in the Asia Pacific region and the Indian sub-continent, but excluding Japan, Australia and New Zealand (the ‘Asia-Pacific Region’). Up to a maximum of 20% of the Client’s total assets (at the time of investment) may be invested in companies incorporated and/or listed outside of the Asia Pacific Region (as defined); at least 25% of their economic activities (at the time of investment) are within the Asia Pacific Region and this proportion is expected to grow significantly over the longer term.
Benchmark
  • MSCI AC Asia ex Japan
Investment style
No data available.
Investment method
No data available.
Fund managers
NameSinceBiography
Stewart Investors30/06/2010
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom
Pacific Assets Trust plc NAV
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price121.34
CurrencyGBX
Price updated30/06/2010
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFP63
Pacific Assets Trust plc Ord
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price262.23
CurrencyGBX
Price updated14/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNJJU
Data provided by

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