abrdn China trust NAV plummets 37%

Underperforms benchmark

clock • 2 min read

abrdn China trust has reported net asset value per share fell 37% in 2022 compared to the previous year, which it blamed on China’s zero-Covid shutdown policy and higher energy prices due to the war in Ukraine.

The trust's performance was worse than the MSCI China All Shares Index, which returned -31.5% during the same period. As a result, NAV per share for the trust was 512p, down from 813.2p in 2021. Assets in the trust fell to £231.8m during the year, a drop from £373.8m. Dividend per share was just 3.2p, compared to 17.5p in 2021. The trust is now trading at a discount of 12.5%, versus 14.5% the previous year. Helen Green, chairman of the trust, admitted stock selection in the financial sector "weighed on returns", as a number of the trust's bank holdings underperformed. abrdn shut...

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