Witan Pacific Investment Trust - Commitment to improve performance
Witan Pacific Investment Trust (WPC) employs a multi-manager strategy, offering investors broad exposure to pan-Asian equities. The board recently announced a renewed commitment to improving the trust’s investment performance. If WPC’s NAV total return lags its benchmark over the period from 31 January 2019 to 31 January 2021, the board will put forward proposals that include a full cash exit at close to NAV. As a result, shareholders should enjoy NAV performance ahead of the benchmark or share price outperformance versus NAV as the discount is closed. In its recently released FY19 results, WPC proposed a meaningful 27.3% increase in its annual dividend; the fully covered 7.0p distribution, to be approved at the June 2019 AGM, equates to a 2.1% yield.Witan Pacific Investment Trust is an investment trust. The investment policy includes investments in a range of regional markets, including the main Southeast Asian and North Asian markets as well as Japan, India and Australia.
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