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Asia Dragon Trust PLC - Edinburgh, Scotland-based investor in Asian equity markets - Net asset value per share falls to 517.33 pence on February 28 from 566.60p on August 31. NAV total return in first half negative 7.7%, outperforming benchmark - the MSCI AC Asia Pacific (ex Japan) Index - which lost 8.1%.
‘The portfolio holdings performed well due to their high-quality franchises and solid balance sheets. Many of them are beneficiaries of long-term structural trends that have been reinforced and hastened by the pandemic,’ company explains.
Company cites ‘an uncertain economic backdrop’ that ‘resulted in a turbulent six month period for Asian markets’.
Turns to interim loss on investment. For the half-year ended February 28, posts investment loss of £53.5 million compared to a profit of £143.3 million year-on-year. Interim income falls to £2.7 million from £4.8 million a year ago.
Current stock price: 424.33 pence, down 1.1% on Thursday
12-month change: down 19%
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