Edison Investment Research - Invesco Asia Trust PLC (IAT) Invesco Asia Trust - Rallying out of the crisis

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Edison Investment Research

Pedro Fonseca

Invesco Asia Trust - Rallying out of the crisis

Invesco Asia Trust (IAT) has generated an annualised NAV total return of 10.1% over the past 10 years, supported by steady income. The board aims to pay a regular six-monthly dividend equivalent to 2% of NAV. A performance-related conditional tender offer (subject to shareholder approval), announced in August 2020, emphasises the boardâ€™s focus on total return. The fund manager, Ian Hargreaves, who has co-managed IAT since 2011 and has been sole manager since 2015, aims to outperform the market over three- to five-year rolling periods, following a bottom-up, contrarian approach, blending growth and value. He targets a double-digit annualised return from each portfolio holding. The manager expects his strategy to work well in the current environment.

02/09/2020 10 EN

Underlying

Invesco Asia Trust PLC

INVESCO Asia Trust is an investment company. Co is engaged in investing the pooled funds of its shareholders, according to its specified investment objective and policy. Co. has contracted with an external investment manager, Invesco Fund Managers Limited, to manage its investments and for its general administration. Other administrative functions are contracted to external service providers.

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GB0004535307 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Pedro Fonseca

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Invesco Asia Trust - Rallying out of the crisis

Edison issues update on Invesco Asia Trust (IAT): Ready to exploit valuation dislocations in Asia

Invesco Asia Trust - Ready to exploit valuation dislocations in Asia

Invesco Asia Trust - Conviction pays off

Record - AUME momentum and a sharper focus

Actinogen Medical - Funding in place through key catalysts

Henderson Opportunities Trust - A differentiated exposure to smaller companies

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