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 Performance73.1%
Average of Rated Funds Group70.5%
Sector Performance55.1%
Fund information
Fund name
Pacific Assets Trust plc Ord
Fund manager company
Frostrow Capital LLP
Fund type
Investment Trust
Fund manager
  • First Statesince 21/12/1984
Accolades
Winner - Best Asia Pacific Trust 
Winner - Regular savings Developing Markets
Fund objective
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’).
Benchmark
  • MSCI AC Asia ex Japan
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
27.6%
1 Year rank in sector
15/15
Sector
IT Asia Pacific excluding Japan Equities
Yield
0.9%
Fund size
£186m
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.
141
Mid price
247
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.
252.73
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.
-2.27
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
Fd Asn Valu PLC52.8%
JP Morgan Asian IT plc44.3%
Abrdn New Dawn IT PLC42.6%
Invesco Asia Trust plc41.6%
Schroder Asia Pacific40.4%
...more in IT Asia Pacific excluding Japan Equities

Performance snapshot

Holdings snapshot

  • India33.8%
    Taiwan17.7%
    Others9.7%
    Philippines7.5%
    Hong Kong6.5%
  • Financials25.6%
    Consumer Staples25.5%
    Information Technology19.8%
    Money Market6.4%
    Health Care5.9%
  • Indian Equities33.8%
    Taiwanese Equities17.7%
    International Equities9.7%
    Philippine Equities7.5%
    Hong Kong Equities6.5%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund2.6%3.3%6.4%27.6%73.1%115.4%
Sector2%11.8%9.5%36.9%55.1%63.5%
Rank within sector7 / 1515 / 1513 / 1515 / 153 / 151 / 15
Quartile2nd4th4th4th1st1st
Calendar performance
 YTD - 20172016201520142013
Fund3%28.5%2.1%23.5%14.2%
Sector9.3%28.9%-6.1%11.7%1.3%
Rank within sector15 / 156 / 152 / 151 / 151 / 15
Quartile4th2nd1st1st1st
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.
4.37
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.
0.89
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%.
15.94
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.
9.28
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 high258
52 week low186
Current bid price243.5
Current offer price247
Current mid price247
Region
1India33.8%
2Taiwan17.7%
3Others9.7%
4Philippines7.5%
5Hong Kong6.5%
6Money Market6.4%
7Bangladesh4.4%
8Indonesia4.3%
9Thailand3.8%
Industry sector
1Financials25.6%
2Consumer Staples25.5%
3Information Technology19.8%
4Money Market6.4%
5Health Care5.9%
6Telecommunications Utilities4.1%
7Consumer Discretionary3.7%
8Utilities3.6%
9Industrials2.6%
Asset type
1Indian Equities33.8%
2Taiwanese Equities17.7%
3International Equities9.7%
4Philippine Equities7.5%
5Hong Kong Equities6.5%
6Money Market6.4%
7Asia Pacific Equities4.4%
8Indonesian Equities4.3%
9Thai Equities3.8%
Individual holdings
1VITASOY INTERNATIONAL HOLDINGS6.5%
2TECH MAHINDRA5.2%
3MARICO4.6%
4MARICO4.6%
5STANDARD FOOD CORP4.2%
6TAIWAN SEMICONDUCTOR CO4.1%
7CHROMA ATE INC3.3%
8DR REDDYS LABORATORIES3%
9DR REDDYS LABORATORIES3%
Management
Fund manager group
Frostrow Capital
Fund manager company
Frostrow Capital LLP
Fund type
Investment Trust
Fund objective
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’).
Benchmark
  • MSCI AC Asia ex Japan
Investment style
No data available.
Investment method
No data available.
Fund manager
NameSinceBiography
First State21/12/1984
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 price252.73
CurrencyGBX
Price updated22/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNJJU
Data provided by

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