Pacific Assets Trust plc

Portfolio Explorer

This interactive tool allows you to explore the companies that the Trust invests in, and discover the contributions they are making to sustainable development. 

Trust Literature

Some of these documents contain information which is no longer up to date. As such, they are maintained on the website solely for informational purposes to provide historical information. The documents should not be relied upon, including for the purposes of an investment decision. Stewart Investors recommend that you seek professional investment advice before making a decision to invest in any fund.

Glossary

Discreet performance: This is the performance over a specific time-period. In this case, it’s over one year up until the date shown, annually. This performance is shown net of fees, which means after any fees have been deducted.

Cumulative performance:  This is the performance of the Trust over the time periods shown in the table. This performance is shown net of fees, which means after any fees have been deducted.

NAV%: Net asset value is the total value of all of the Trust’s investments and cash, less any debts or loans.

CPI+6%: The trust’s performance objective against which the Portfolio Manager’s performance is measured is to provide shareholders with greater than the UK Consumer Price Index (CPI) plus 6%.  CPI is a measurement of price changes for consumers. The additional 6% is what the Board considers to be a reasonable increase from investing in the faster-growing Asian economies over the long term.

Peer Group ReturnThe Board also monitors the Company’s performance against its peer group of five other investment trusts with similar investment mandates and one exchange traded fund (“ETF”). It is a subset of the Association of Investment Companies peer group, considered by the board as those whose investment policies are substantially similar to those of the Trust

MSCI AC Asia ex Japan Index:  An index is a collection of investments designed to replicate the performance of a region or a specific market. Investors can use this one as a way of comparing the Trust’s performance because it is the closest geographically to the countries in which the Trust invests.

Dividends: This is a payment made to the Trust’s shareholders.

Net-Asset-Value (NAV):  This is the value of the all the Trust’s investments and cash minus its debts.

Net-Asset-Value (NAV) per share: This is the value of the Trust expressed per share. It is calculated by dividing the NAV by its shares outstanding.

Cum Income NAV Per Share (p): This reflects the NAV per share including the income the Trust has received in the current financial year.

Cum Income Discount / Premium (%): This is the percentage difference between the share price and the Cum Income Nav Per Share. A positive difference means that the share price is trading at a premium and negative percentage difference means that the share price is trading at a discount over its NAV including income.  

Ex-Income NAV Per Share (p): This reflects the NAV Per Share excluding the income the Trust has received in the current financial year.

Ex-Income Discount / Premium (%): This is the percentage difference between the share price and the Ex-Income NAV Per Share. A positive difference means that the share price is trading at a premium (over its NAV excluding income) and a negative percentage difference means that the share price is trading at a discount to its NAV excluding income.

Ex Div or Ex-dividend: This means that the share price of the Trust is trading without the value of the next dividend payment. 

Important information

This document is a financial promotion for Pacific Assets Trust plc (the “Trust”) only for those people resident in the UK for tax and investment purposes. Investing involves certain risks including:

• The value of investments and any income from them may go down as well as up and are not guaranteed. Investors may get back significantly less than the original amount invested.
• Emerging market risk: emerging markets may not provide the same level of investor protection as a developed market; they may involve a higher risk than investing in developed markets.
• Currency risk: the Trust invests in assets which are denominated in currencies other than pound sterling; changes in exchange rates will affect the value of the Trust.
• The Trust’s share price may not fully reflect net asset value.

Reference to specific securities (if any) is included for the purpose of illustration only and should not be construed as a recommendation to buy or sell. Reference to the names of any company is merely to explain the investment strategy and should not be construed as investment advice or a recommendation to invest in any of those companies.

For an overview of the terms of investment, risks, returns and costs and charges please refer to the Key Information Document which can be found on this website. If you are in any doubt as to the suitability of the Trust for your investment needs, please seek investment advice.

Past performance is not a reliable indicator of future results.

Although the Company will use the MSCI AC Asia ex Japan Index and CPI +6% as comparator indices, these indices will not be used for portfolio construction or risk management purposes.

These figures refer to the past. Past performance is not a reliable indicator of future results. For investors based in countries with currencies other than GBP, the return may increase or decrease as a result of currency fluctuations. The NAV performance data is on a net basis after deducting all fees (e.g. investment management fee) and costs (e.g. transaction and custody costs) incurred by the Trust. The NAV includes dividends reinvested on a net of tax basis. CPI data is quoted on a one month lag. The peer group is a subset of the Association of Investment Companies peer group, considered by the board as those whose investment policies are substantially similar to those of the Trust. Peer group performance is determined on a simple average share price basis by measuring percentage growth over the period using bid prices, on the basis that net income is reinvested in Sterling. The comparator shown is the MSCI AC Asia ex Japan Index, on an income reinvested net of tax basis. Sources: i) Lipper for Trust and peer group share prices returns; ii) Trust Administrator and Bloomberg for NAV performance data; iii) CPI data is sourced from Factset.

* Performance since Stewart Investors was appointed as Investment Manager with effect from the 1st July 2010.

** The MSCI AC Asia ex Japan Index is shown here as a comparator to provide additional context for investors seeking exposure to the region.

*** The Performance Objective is considered to be appropriate given the Investment Manager’s index agnostic investment philosophy and will not change its style or strategy, or the make-up of the portfolio.

ǂ A Final Dividend is a dividend declared by the Board of Directors after the company has issued its annual financial statements.

ǂǂ In light of the response to the coronavirus pandemic in 2020 the board decided to declare an interim dividend rather than a final dividend. Declaring an interim dividend means that shareholders would be paid a dividend irrespective of whether the AGM was able to proceed as planned. Please see annual report for further details.

How to invest

Shares in Pacific Assets Trust plc can be bought directly through a stockbroker or financial adviser.

There are online brokers that allow investors to trade for a small fee; we have included a list of some below. This list is not comprehensive and does not constitute any form of recommendation.

Investors can buy shares on a regular basis through saving scheme providers, which allow investors to buy any plc or investment company through their websites. Some of these are also included on the list below.

Pacific Assets Trust plc does not recommend any of these organisations in particular. Terms and costs of each provider may vary. Pacific Assets Trust plc does not provide financial or investment advice.

If you don’t have an adviser but would like financial advice, you can find an independent financial adviser at unbiased.co.uk. You may be charged for any advice you receive.

Sharedealing – EQ Shareview

Equiniti Financial Services Limited, which is the company that manages the share register for the Trust, offers a share dealing service.

This provides a simple way for UK shareholders of Pacific Assets Trust plc to buy or sell their shares in the Trust; it is a service which is only available to people with a UK address, who are aged 18 and over.

For full details and terms and conditions visit www.shareview.co.uk/dealing or call 03456 037037 between 8.00am and 4.30pm Monday to Friday.

Equiniti Financial Services Limited’s registered office is, Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA and it is registered in England and Wales with number 6208699. 

Equiniti Financial Services Ltd is authorised and regulated by the Financial Conduct Authority.

Past performance is no guarantee of future performance. The value of your investment and any income from it may go down as well as up and you may not get back the amount invested. This is because the share price is determined by the changing conditions in the relevant stock markets in which the Company invests and by the supply and demand for the Company's shares. As the shares in an investment trust are traded on a stock market, the share price will fluctuate in accordance with the supply and demand and may not reflect the underlying net asset value of the shares; where the share price is less than the underlying value of the assets, the difference is known as the 'discount'. This is one of the reasons that investors may not get back the original amount invested. Although the Company's shares are denominated in sterling, it may invest in stocks and shares which are denominated in currencies other than sterling and to the extent they do so, they may be affected by movements in exchange rates. As a result the value of your investment may rise or fall with movements in exchange rates. Investors should note that tax rates and reliefs may change at any time in the future. The value of ISA tax advantages will depend on personal circumstances. The favourable tax treatments of ISAs may not be maintained.