London, UK, 29 March 2022
Edison issues review on Invesco Asia Trust (IAT)
Despite the notable setback in Asian markets during Q122, Invesco Asia Trust (IAT) continues to generate a double-digit annualised NAV total return (c 11% over the past 10 years), supported by consistent income. It has continued to pay a regular six-monthly dividend equivalent to 2% of NAV (4% per year). In January 2022, the fund management team was enhanced when Fiona Yang was appointed co-manager alongside Ian Hargreaves, who has run the portfolio since 2011 (from 2015 as a sole manager). IAT's team targets double-digit annualised returns from each portfolio holding over a rolling three-year period.
2021 portfolio performance (54 holdings at 28 February 2022) benefited considerably from blending growth and value styles. The team has achieved solid absolute and relative performance over the long term, since Hargreaves began co-managing IAT.
We believe that dividend enhancement, introduced by the board in 2020 brings additional stability to the fund's performance and underlines the board's focus on total return.
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