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Schroder AsiaPacific beats benchmark and cuts fees
StockMarketWire.com
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The Schroder AsiaPacific fund announced in its annual report that it has beaten its benchmark and is cutting its fees.
The net asset value per share of the company recorded a total return of 17.7% over the twelve months to end September 2020, beating the benchmark by 12.3% over the same period.
From 1 April 2021, management fee will decrease to 0.75% per annum on the first £600 million of net assets and 0.70% per annum on net assets in excess of £600 million.
The notice period is set at six months and the effect of the change is expected to generate a saving of around £400,000 per annum.
The company's performance has been strong versus the benchmark over the year as a whole. Outperformance was particularly marked in the second half, thanks to strong stock selection, most notably in Singapore, Taiwan, China, Korea and Hong Kong, Schroder AsiaPacific fund chair Nicolas Smith said.
India was the only area of significant stock selection shortfalls as the bank holdings suffered due to fears of credit losses due to the disruption caused by Covid-19.
At 1:50pm: (LON:SDP) Schroder Asiapacific Fund PLC share price was 0p at 577p
Story provided by StockMarketWire.com
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