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1 director bought
A director at Martin Currie Asia Unconstrained Trust bought 5,970 shares at 382p and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the las...
- Helena Coles
Martin Currie Asia Unconstrained Trust - Deep discount and attractive ...
Martin Currie Asia Unconstrained Trust (MCP) aims to deliver growth in line with nominal Asia ex-Japan GDP on a rolling three-year basis. It follows a detailed, bottom-up approach to investing in a concentrated portfolio of 20–30 of Asia’s highest-quality and most sustainable businesses, unconstrained by a benchmark. Although market conditions have become more challenging for Asian equities, MCP’s manager Andrew Graham believes the portfolio’s high-quality companies are poised to do well...
- Helena Coles
Martin Currie Asia Unconstrained Trust - Capital growth with attractiv...
Martin Currie Asia Unconstrained Trust (MCP) aims to deliver returns in line with nominal Asia ex-Japan GDP growth on a rolling three-year basis. It aims to achieve this through a rigorous ‘forensic’ analysis, to build a relatively concentrated portfolio of c 30 high-conviction stocks. This strategy was adopted in August 2014 and has since delivered annualised total returns of 11.6% to end-May 2018, with lower volatility relative to the MSCI AC Asia ex-Japan index. Following a change in divi...
- Helena Coles
Martin Currie Asia Unconstrained Trust - Scope for narrower discount
Martin Currie Asia Unconstrained Trust (MCP) aims to generate returns at least in-line with Asia ex-Japan nominal GDP growth. It follows a bottom-up approach to stock-picking and uses detailed ‘forensic accounting’ assessments to build a high-conviction portfolio of 20 to 30 stocks, with a long-term view. The trust has persistently traded at a deep discount, but there is scope for this to narrow following a recent change in the dividend policy, which has lifted its yield to 4.0%, while maint...
- Mel Jenner
Proposed increase in the dividend
Martin Currie Asia Unconstrained Trust (MCP) adopted Martin Currie’s Asia Long-Term Unconstrained (ALTU) strategy in July 2014, aiming to generate returns in line with Asia-Pacific ex-Japan GDP growth. The trust has consistently traded at a wider discount than its peers, but the differential has recently narrowed following the board’s proposal on 4 April 2017 to increase the dividend meaningfully. Based on MCP’s end-FY17 ex-income NAV, the dividend yield would more than double, lifting the yield...
- Matthew Read
Focus on companies with strong capital discipline
”‹MCP’s manager believes that, despite the region’s strong GDP growth, high demand for exposure to the Asian growth story has, over the last 30 years, has led to a glut of capital. As capital has been readily available, companies have not been disciplined in its use. This has led to both overcapacity and an unhealthy tendency towards dilution (i.e. raising additional equity capital thereby diluting the returns of existing investors); thus the benefits of GDP growth have not translated into stock...
- Matthew Read
Focus on companies with strong capital discipline
”‹MCP’s manager believes that, despite the region’s strong GDP growth, high demand for exposure to the Asian growth story has, over the last 30 years, has led to a glut of capital. As capital has been readily available, companies have not been disciplined in its use. This has led to both overcapacity and an unhealthy tendency towards dilution (i.e. raising additional equity capital thereby diluting the returns of existing investors); thus the benefits of GDP growth have not translated into stock...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Review: Disciplined investment in Asian growth
Martin Currie Asia Unconstrained Trust (MCP) does not have a traditional Asia ex-Japan benchmark, but aims to achieve returns commensurate with GDP growth in the region. The manager’s Asia Long-Term Unconstrained (ALTU) strategy was launched in July 2008 and adopted by MCP in July 2014. Since inception, the strategy has tended to capture most of the upside in rising markets, while outperforming in falling markets. The portfolio is focused, with 20-30 holdings that have all undergone a rigorous...
Review: Unconstrained long-term Asian growth strategy
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 t...
Initiation: Unconstrained approach to Asian growth
Martin Currie Pacific Trust (MCP) has undergone a transformation from a relative return, pan-Asia-Pacific strategy to an unconstrained mandate focused on providing long-term returns commensurate with nominal GDP growth in Asia (ex-Japan). It is the only UK retail fund offering exposure to Martin Currie’s Asia Long-Term Unconstrained (ALTU) investment process, which seeks to identify the region’s 20-30 most sustainable businesses using an in-depth forensic accounting approach. If the ALTU str...
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