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”‹Edinburgh Dragon Trust (EFM) is the largest and one of the most liquid investment companies focused on the Asia ex Japan region. Its strong focus on quality has served it well over the long term. EFM’s manager says that an environment of very low interest rates has distorted markets, with the result that EFM’s focus on quality has not been rewarded. The manager believes that China is stabilising and that the outlook for Asia appears to be improving. In recent months, there has been a noticeable improvement in EFM’s net asset value (NAV) performance relative to its peers and its benchmark. Over six months to the end of July, EFM was 1.6% ahead of its peers and 2.7% ahead of its benchmark. However, in the short term, the share price has not kept pace and EFM’s discount has widened.
Edinburgh Dragon Trust is an investment trust. Co. invests in a portfolio of about 70 companies in the Asia Pacific region with the exception of Japan and Australasia. Co.'s assets are invested in a portfolio of securities in quoted companies spread across a range of industries and economies in the Asia Pacific region. As of Aug 31 2017, Co. had total assets of £851.7 million and total investments of £839.7 million.
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