PACIFIC ASSETS TRUST

Pacific Assets Trust announces that, with effect from 14 November 2025, portfolio management will move from Stewart Investors to the affiliated team FSSA Investment Managers. The change follows the departure of co-portfolio manager David Gait and two colleagues and First Sentier Group’s decision to wind down the Stewart Investors business. Rizi Mohanty will be lead portfolio manager, Martin Lau co-portfolio manager; the previous managers Doug Ledingham and Jack Nelson are stepping down. The board says it is disappointed and plans to consult major shareholders before a strategic review; further announcements will be made in due course. » Więcej na de.investing.com

Pacific Assets Trust reports a decline in Net Asset Value on a total return basis of 3.7% for the half-year to 31 July 2025, leaving it behind the MSCI AC Asia ex Japan, which rose 9.5%. Positions in India were particularly detrimental, although operating results remained solid; positive contributions came from AI-active companies. The trust announces a conditional buyback (up to 25% of capital) and a tiered management fee (0.75% up to £500m, then 0.65%) to better align management with shareholder interests. During the reporting period PAC repurchased 2.2m of its own shares, with a further 1.7m repurchased after the period end, which reduced the discount. » Więcej na de.investing.com