Before finding out more about Pacific Assets Trust plc ("Pacific Assets”), it is important that you first read and understand the information set out below. Pacific Assets is an investment trust, incorporated in Scotland with registered number SC091052, whose shares have been admitted to the Official List of the UK Listing Authority and admitted to trading on the main market of the London Stock Exchange plc. Pacific Assets is an alternative investment fund for the purposes of the Alternative Investment Fund Managers Directive ("AIFMD") and acts as its own alternative investment fund manager ("AIFM"). Pacific Assets is registered as a small registered UK AIFM. Pacific Assets has delegated certain portfolio management responsibilities to First State Investment Management (UK) Limited (“First State Investments”).
The information contained on the following pages has been prepared for the use of those people who are United Kingdom residents for tax and investment purposes. By proceeding, you are representing that you are not resident in a jurisdiction outside the United Kingdom. If you are unable to make this representation then you should leave this website immediately. First State Investments believes that the information provided is accurate as at the date of its publication, but no representation or warranty of accuracy is given by First State Investments or Pacific Assets and therefore no liability in respect of any error or omission by a third party is accepted by First State Investments, Pacific Assets or their affiliates or any of their directors, employees, consultants or agents.
The information contained in this website is subject to change without prior notice and is not to be reproduced, copied or otherwise made available to persons other than those for whom it is intended, especially anyone outside the UK for tax or investment purposes, without the prior written consent of First State Investments.
This website and its contents have been issued and approved by First State Investments (UK) Limited. First State Investments is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Any comments expressed reflect the views of First State Investments and should not be taken as any kind of recommendation or advice.
Please remember that the value of investments and the income from them may go down as well as up and that you may not get back the amount you originally invested.
Past performance is not necessarily a guide to future performance.
Changes in exchange rates will affect the value of investments overseas. Gearing, where borrowing is used to fund further investment, can increase the returns in rising markets and decrease the returns in market downturns.
Shares in Pacific Assets Trust Plc have not been and will not be registered under the United States Securities Act 1933 (as amended). The information in this website is not intended for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities in any jurisdiction in which such offer, solicitation or distribution would be unlawful including but not limited to the United States of America or for the benefit of any United States persons. Investments in emerging markets may involve a higher risk than investments in more developed markets. Investors should consider whether or not an investment in funds or companies which invest in such markets is either suitable for or should constitute a substantial part of an investor’s portfolio.
Investments in Pacific Assets may be less liquid than the securities of a larger company, or an investment trust which invests in larger companies, or in more developed economic regions. Securities in smaller companies or an investment trust (such as Pacific Assets) which invests in emerging markets may possess greater potential for capital appreciation, but also involve risks, such as limited product lines, markets and financial or managerial resources and trading in such securities may be subject to more abrupt price movements than trading in the securities of larger companies.
If you are in any doubt about any of the information on this web site, please consult your independent financial or other such adviser authorised to give investment advice under the Financial Services and Markets Act 2000.
First State Investment's regulator, the Financial Conduct Authority, also has a website.
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By sustainable investment, Stewart Investors is not referring to ‘green’, ‘clean tech’ or ‘ethical’ investing. Their emphasis is on sustainable development. They are simply setting out to invest in those companies they believe are particularly well-positioned to deliver long-term returns in the face of the huge development challenges facing all countries today.
The root causes of these development challenges are numerous and complex. They include population pressure, land and water scarcity and degradation, resource constraints, income inequality, ethnic and gender inequalities and extreme levels of poverty. It is becoming increasingly clear that in order to tackle these development challenges, both developed and developing countries will be required to reinvent their development trajectories and shift away from the current resource intensive, consumption intensive, overly debt-dependent development models towards a more genuinely sustainable path of economic development.
Sustainable investment has always been an integral part of the Stewart Investors team’s investment philosophy and stock-picking process. At the heart of this philosophy is the principle of stewardship. They believe their job is to invest their clients’ capital in good quality companies with strong management teams and sound long-term growth prospects. Each investment is a decision to purchase, not a piece of paper or an electronic Bloomberg ticker, but part of a real business with all the rights and responsibilities that go with this ‘share’ of the ownership of the company.
They take these rights and responsibilities seriously. They also believe the way they behave as investment professionals and the role they play in the broader industry are important for their own sustainability All the Stewart Investors investment strategies strive to integrate environmental, social and governance (ESG) considerations into every investment decision. Their sustainability strategies take this one step further by focusing on long-term sustainability themes as a key driver of the investment process.
Please click here for the latest Sustainability strategy document.
To generate attractive long-term, risk-adjusted returns by investing in the shares of those companies which are particularly well-positioned to benefit from, and contribute to, the sustainable development of the countries in which they operate.
Stewart Investors seeks to invest only in good quality companies. Quality is measured through the lenses of management’s financial and franchise quality. By analysing the sustainability performance and positioning of companies they can better measure less-tangible elements of quality and identify hidden risks.
Stewart Investors are long-term investors. They strive to make investment decisions with a five-year time horizon.
They have an absolute return mindset. That is, they define risk as losing money for their clients, rather than in terms of deviation from any benchmark index. They focus as much on the potential downside of their investment decisions as on the anticipated upside. The identification of long-term sustainability risks thus becomes an extremely important way of managing risk. In addition, their willingness to differ substantially from index weightings, both country and company, means they are not obliged to be invested anywhere where they have particular sustainability concerns.
They also recognise there is no such thing as a perfect company. They are active owners and stewards of the companies they own.