Pacific Assets Trust

Asia-Pacific Equities

Rated Fund 2014-17, 2020. Seeks to limit its ecological footprint

Pacific Assets returns to our Rated Funds for 2020 after a three-year hiatus. It replaces Stewart Investors Asia Pacific Sustainability as our choice for investors who want to invest in a socially responsible manner. It is tipped for core Asian equities exposure on ACE 30, interactive investor’s list of 30 rated ethical funds.

David Gait, an experienced investor who has worked at Steward Investors for more than 20 years, provides a steady hand on the tiller. He has led Pacific Assets, which invests in companies of all sizes, since 2010. In doing so, he runs a portfolio of 30-60 companies (around 50 at present) with honest management teams able to deliver sustainable and predictable growth through pricing power, franchise strength and limited regulatory oversight.

He prioritises companies that manage risks and opportunities, and contribute towards global human development without exceeding their ecological footprint. The trust has no exposure to the energy sector and limited exposure to materials, for example.

Morningstar analyst Andrew Daniels regards Pacific Assets as a “solid offering, given its talented management team and best-in-class investment approach”, while Charles Stanley analyst Rob Morgan points to the sustainability focus as being a key differentiator. He adds: “The high active share and disregard for the benchmark when constructing the portfolio are also enduring and admirable features of the Stewart management style.”

This trust’s discount has generally been fairly tight under the current manager. The board tends to issue shares when they are trading at a premium and buy them back when at a discount. The widest discount over the past three years has been around 6%, and highest premium 5%.

Narrative and ratings content all as of January 2020.

See all Money Observer rated funds
Name
Pacific Assets Trust
Manager
Stewart Investors
Type
Closed Ended Investment Company
ISIN
GB0006674385
Sector
Asia Pacific
Launched
01/01/1985
OCF
1.19 %
Risk Rating
1
3 Year Sharpe
0.24
3 Year Alpha
-0.24
Yield
1.1 %
Benchmark
MSCI AC Asia Ex Japan GR USD
Fund Size
£ 314.49 million
NAV
286
Gearing
94
Discount Premium
-9
To achieve long-term capital growth through investment in selected companies in the Asia Pacific region and the Indian Subcontinent, but excluding Japan, Australia and New Zealand (the Asia Pacific Region).The Company invests principally in listed equities although it is able to invest in other securities, including preference shares, debt instruments, convertible securities and warrants. In addition, the Company may invest in open and closed-ended investment funds and companies.
Holding %
Tech Mahindra Ltd 5.11 %
Hoya Corp 4.94 %
Vitasoy International Holdings Ltd 4.89 %
Unicharm Corp 4.74 %
Philippine Seven Corp 3.54 %
Kotak Mahindra Bank Ltd 3.51 %
Marico Ltd 3.33 %
Dr. Lal PathLabs Ltd 2.98 %
Housing Development Finance Corp Ltd 2.92 %
Koh Young Technology Inc 2.58 %
Region %
Asia - Emerging 57.25 %
Asia - Developed 26.63 %
Japan 14.17 %
Sector %
Consumer Defensive 29.47 %
Technology 21.01 %
Financial Services 20.65 %
Healthcare 11.87 %
Industrials 7.49 %
Consumer Cyclical 6.68 %
Name
Stewart Investors
Address
EH2 1BB, Edinburgh, United Kingdom
UCITS
No
Legal Structure
Closed Ended Investment Company

Managers

Douglas Ledingham
Joined 09/30/2018

Douglas joined the team in January 2016 and is responsible for generating investment ideas for the Stewart Investors Sustainable Funds Group across all sectors in emerging and developed markets. Prior to joining the team Doug worked as an analyst in the Stewart Investors Asia Pacific team for three years upon graduation from university. Douglas holds an MA in Business Studies and Accountancy from the University of Edinburgh.

David Gait
Joined 07/31/2010

David is responsible for leading the Stewart Investors Sustainable Funds group and generating investment ideas across all sectors in emerging and developed markets. David Gait joined the company in 1997. David holds an MA with honours in Economics from Cambridge University, and holds a Master of Science in Investment Analysis from Stirling University.

Data provided by Morningstar.

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Money Observer and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Morningstar. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.