The board of the Aberdeen All Asia investment trust plans to change the mandate of the vehicle to Japan-only and raise additional equity.
If plans are approved by shareholders, the board plans to raise up to £100m in new capital by issuing C shares at a price of 100p per share. The board said the key reason for the change of regional mandate is the impact on performance of some holdings caused by significant fluctuations in the value of the yen. The new mandate will allow for the hedging of the underlying yen exposure back into sterling. Over the past year to 9 September the NAV returns of the trust have significantly lagged the Asia Pacific inc Japan Equities investment trust sector, at 9% versus 19.4%. Chern-Yeh...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
