Edison issues note on Martin Currie Pacific Trust
OREANDA-NEWS. Martin Currie Pacific Trust (MCP) is an actively-managed fund focused on Asia ex-Japan, differentiated by its aim of achieving returns commensurate with the region's GDP growth. Launched by Martin Currie in 2008 and adopted by MCP in July 2014, the Asia Long-Term Unconstrained (ALTU) strategy has demonstrated relatively low volatility compared with the market and has tended to capture the majority of market upside, while outperforming in falling markets. MCP's 2.4% dividend yield is one of the highest among peers and there is scope for the discount to narrow further.
Martin Currie Pacific Trust aims to achieve returns commensurate with Asia ex- Japan nominal GDP growth, unconstrained by an equity benchmark, over a long-term time horizon from a concentrated portfolio of 20-30 stocks. Prior to its change of investment objective in July 2014, it invested in a pan-Asian portfolio with a benchmark of MSCI AC Asia Pacific (Japan fixed at 25%).
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