Ashoka WhiteOak Emerging Markets Trust PLC - investment trust focused on global emerging markets - Reports maiden results for the time from corporation in mid-March 2023 to March 31 this year. Net asset value per share as at March 31 is 109.86 pence each. NAV total return for financial 2024 is 12%, outperforming its benchmark, the MSCI EM (GBP) index, which had a return of 7.9%. Looking ahead, the trust notes that forecasts for global economic growth are higher than they were six months ago. ‘With the prospect of gradual disinflation and steady growth, the likelihood of a hard landing has receded, and risks to global growth are now more broadly balanced,’ it says.
Ashoka WhiteOak adds: ‘The major uncertainties, apart from renewed US dollar strength, are firstly whether the Chinese economy, given its massive overhang of non-performing property debt, can be stabilised through various fiscal and policy measures. Secondly, it is uncertain who the next US president may be, and to what degree US tariffs may be ramped up as a result.’
The company had its initial public offering on the premium segment of the London Main Market in May last year.
Current stock price: 114.39 pence
12-month change: up 12%
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