ASIA DRAGON TRUST PLC Asia Dragon Trust plc
Half-Yearly Report 28 February 2023
Capturing growth from world-class Asian companies
asiadragontrust.co.uk
Performance Highlights
Net asset value total return A
Six months ended 28 February 2023
-7.2%
Year ended 31 August 2022 | -8.4% |
Benchmark total return (in sterling terms)
Six months ended 28 February 2023
-5.7%
Year ended 31 August 2022 | -7.1% |
- Considered to be an Alternative Performance Measure as defined on pages 30 and 31.
Share price total return A
Six months ended 28 February 2023
-6.5%
Year ended 31 August 2022 | -11.8% | |||
Discount to net asset valueA
As at 28 February 2023
12.6%
As at 31 August 2022 | 13.1% |
Overview
Portfolio
Financial Statements
6 months ended | Year ended | 01/09/2021 - | 3 years ended | 5 years ended | 10 years ended | |
28/02/2023 | 28/02/2023 | 28/02/2023A | 28/02/2023 | 28/02/2023 | 28/02/2023 | |
Net asset value per shareB | -7.2% | -8.0% | -13.9% | +10.0% | +15.4% | +63.6% |
Share priceB | -6.5% | -12.0% | -14.1% | +9.3% | +18.0% | +55.9% |
MSCI AC Asia (ex Japan) | -5.7% | -4.8% | -12.4% | +10.7% | +10.4% | +82.0% |
Index (sterling adjusted) | ||||||
- The monitoring period for the Company's five year performance related conditional tender commenced on 1 September 2021. See the outside back cover of the Half Yearly Report for further details.
- Considered to be an Alternative Performance Measure as defined on page 31.
General Information
Asia Dragon Trust plc | 1 |
Financial Calendar and Highlights
Financial Calendar
Financial year end | 31 August 2023 |
November 2023 | |
Announcement of annual results for year ending 31 August 2023 | |
December 2023 | |
Annual General Meeting | |
December 2023 | |
Final Ordinary dividend payable for year ending 31 August 2023 | |
Financial Highlights
28 February 2023 | 31 August 2022 | % change | |
Total shareholders' funds (£'000) | 549,954 | 614,369 | -10.5 |
Net asset value per share (capital return basis) (p) | 469.24 | 513.32 | -8.6 |
Share price (capital return basis) (p) | 410.00 | 446.00 | -8.1 |
Discount to net asset value (%) A | 12.6 | 13.1 | |
MSCI AC Asia (ex Japan) Index (in sterling terms; capital return basis) | 964.33 | 1,030.48 | -6.4 |
Net gearing % A | 9.6 | 9.0 | |
Ongoing charges ratio A | 0.91 | 0.84 |
- Considered to be an Alternative Performance Measure as defined on pages 30 and 31.
2 | Asia Dragon Trust plc |
"Many Asian economies have been late in reopening
after the easing of Covid-19 restrictions. We are also seeing continued policy support in the region. These positive moves are helping to bolster a recovery in consumer spending
and your Manager expects an improved earnings outlook for
companies exposed to this domestic demand theme."
James Will, Chairman
Capturing growth from world-class Asian companies
As a long-term, cornerstone investment in Asian equity markets, Asia Dragon Trust seeks to provide investors with access to high quality companies - companies we believe to be attractively valued with effective management, good cash flows and healthy balance sheets.
Leading: in a market of diverse corporate quality, our Manager's intensive approach seeks to bring together world-class, quality Asian companies that are transforming their sector and setting governance standards.
Long term: as one of the largest Asian investment trusts, our size and extensive Manager experience make Asia Dragon a solid cornerstone investment looking to drive steady, long-term growth from a volatile but unmissable region.
Local: at the heart of Asia for over 30 years, our Manager's broad and deep in-country presence gives us regional insight from a global perspective and outstanding corporate access across this complex, wide-ranging and fast-changing market.
Asia Dragon Trust plc | 3 |
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Asia Dragon Trust plc published this content on 15 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2023 11:44:08 UTC.
