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Interim Results

Pacific Horizon's NAV falls 6.1%

04 March 2016 11:42

Pacific Horizon's net asset value per share fell 6.1% to 185.64p in the six months to 31 January 2016.

Meanwhile, the share price fell 11.9% and the discount widened from 8.2% to 13.8%.

Over the same period the MSCI All Country Asia ex Japan Index fell 7.4% in sterling terms.

The Company said:

"Despite the poor absolute returns, relative performance was positive due to the strong showing of a number of the Company's large China internet stocks, following inclusion in the MSCI index, and a reversal in the previous strong performance of Chinese financials, which were not held in the portfolio. Many of our highest conviction holdings outperformed the comparative index by a healthy margin; for example NAVER and CJ E&M in Korea returned 29.4% and 34.0% respectively during the period."

At 11:42am: (LON:PHI) Pacific Horizon Investment Trust Plc share price was +0.5p at 163.5p

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