An underweight position in Japan contributed to the Witan Pacific investment trust’s positive performance over the six-month period to July 31.
The multi-manager investment trust almost doubled the returns produced by its benchmark, the MSCI AC Asia Pacific Free Index, in sterling terms over the period. The trust returned 10.8 per cent, outperforming the index by 5 per cent over the period.
The trust has only two underlying managers, Aberdeen Asset Management and Nomura Asset Management, and both have benefited from underweighting Japan, which has lagged other markets. Aberdeen delivered a total return of 13.8 per cent in the six months to July 31 and Nomura returned 8 per cent due to positive stock selection coupled with its underweight to Japan.
Marketing director James Frost says: “There is no need to add to or change the managers as they have performed well.”