Fidelity Asian Values PLC - provides equity exposure to Asian businesses considered mispriced - Net asset value per share ends July 31 at 507.78 pence, climbing 2.1% from 497.50p a year ago. Says that in the year to July 31, NAV including 1.8% dividend reinvestment grows 3.9%. Notes benchmark, the MSCI All Countries Asia ex Japan Small Cap Index, fell by 5.6% over same time period.

Pays a 59% higher dividend than a year ago at 14.00p per share versus 8.80p.

Meanwhile, Chair Kate Bolsover will retire from the board at the annual general meeting in 2023. Clare Brady will become chair at that time. This year’s AGM will be held on November 23.

Looking ahead, Fidelity Asian Values says the long-term outlook for Asia Pacific excluding Japan equities remains positive and attractive for investors. ‘At a time when the world is becoming increasingly protectionist, Asia’s robust domestic demand from an expanding middle class supports the outlook for the region. Nonetheless, the region remains vulnerable to a global slowdown and tightening of global financial condition,’ it says. Notes that Asian countries except for China have eased international border controls, releasing pent-up consumption demand into their markets.

Current stock price: 451.29 pence, up 1.0% on Monday

12-month change: down 6.5%

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