Performance Record

This document is a financial promotion for Pacific Assets Trust plc (the “Trust”) only for those people resident in the UK for tax and investment purposes. Investing involves certain risks including:

  • The value of investments and any income from them may go down as well as up and are not guaranteed. Investors may get back significantly less than the original amount invested.
  • Emerging market risk: emerging markets may not provide the same level of investor protection as a developed market; they may involve a higher risk than investing in developed markets.
  • Currency risk: the Trust invests in assets which are denominated in currencies other than pound sterling; changes in exchange rates will affect the value of the Trust.
  • The Trust’s share price may not fully reflect net asset value.

Reference to specific securities (if any) is included for the purpose of illustration only and should not be construed as a recommendation to buy or sell. Reference to the names of any company is merely to explain the investment strategy and should not be construed as investment advice or a recommendation to invest in any of those companies.

For an overview of the terms of investment, risks, returns and costs and charges please refer to the Key Information Document which can be found on the Trust’s website: If you are in any doubt as to the suitability of the Trust for your investment needs, please seek investment advice.

Past performance is not a reliable indicator of future results.

Although the Company will use the MSCI AC Asia ex Japan Index and CPI +6% as comparator indices, these indices will not be used for portfolio construction or risk management purposes.

Discrete Performance (% in GBP) to 31 May 2022

Discrete Performance (% in GBP) to 31 May 2022

Period 12 months to 31/05/22 12 months to 31/05/21 12 months to 31/05/20 12 months to 31/05/19 12 months to31/05/18
NAV% 2.4 35.9 -9.8 8.0 10.1
Share Price -3.6 38.9 -16.0 13.9 2.4
CPI + 6%*** 15.7 7.8 7.0 8.4 8.7
Peer Group Return -12.2 49.1 1.8 -1.7 17.9
MSCI AC Asia ex Japan Index** -11.6 31.8 2.0 -6.1 13.8

Cumulative Performance (% in GBP) to 31 May 2022

Cumulative Performance (% in GBP) to 31 May 2022

Period Since Inception* 10 yrs 5 yrs 3 yrs 1 yr 6 mths 3 mths
NAV% 240.4 200.4 49.2 25.5 2.4 -7.6 0.7
Share Price 233.8 207.1 31.3 12.5 -3.6 -8.8 -3.0
CPI + 6%*** 171.9 127.2 57.2 33.4 15.7 8.8 6.0
Peer Group Return 209.2 185.4 55.6 34.2 -12.2 -11.9 -5.2
MSCI AC Asia ex Japan Index** 131.2 125.1 26.9 18.8 -11.6 -6.7 -1.4

These figures refer to the past. Past performance is not a reliable indicator of future results. For investors based in countries with currencies other than GBP, the return may increase or decrease as a result of currency fluctuations. The NAV performance data is on a net basis after deducting all fees (e.g. investment management fee) and costs (e.g. transaction and custody costs) incurred by the Trust. The NAV includes dividends reinvested on a net of tax basis. CPI data is quoted on a one month lag. The peer group is a subset of the Association of Investment Companies peer group, considered by the board as those whose investment policies are substantially similar to those of the Trust. Peer group performance is determined on a simple average share price basis by measuring percentage growth over the period using bid prices, on the basis that net income is reinvested in Sterling. The comparator shown is the MSCI AC Asia ex Japan Index, on an income reinvested net of tax basis. Sources: i) Lipper for Trust and peer group share prices returns; ii) Trust Administrator and Bloomberg for NAV performance data; iii) CPI data is sourced from Factset.

* Performance since Stewart Investors was appointed as Investment Manager with effect from the 1st July 2010
** The MSCI AC Asia ex Japan Index is shown here as a comparator to provide additional context for investors seeking exposure to the region.
*** The Performance Objective is considered to be appropriate given the Investment Manager’s index agnostic investment philosophy and will not change its style or strategy, or the make-up of the portfolio.