Despite a challenging environment, investment performance remained robust during the year to 31 August 2019. The company’s net asset value per share (NAV Total Return) increased by 9.8% (in sterling terms).

In comparison, the benchmark, MSCI All Country Asia ex Japan Index, rose by 0.3% over the same period. This outperformance has seen Asia Dragon Trust being ranked first in its AIC Asia Pacific NAV performance peer group table of investment companies for the one year ended 31 August 2019 (source: AIC).

Pruksa Iamthongthong has also been confirmed as co-manager, working with fellow Aberdeen Standard Investments investment director Adrian Lim.

Edinburgh Dragon Trust has been renamed Asia Dragon Trust emphasising the Company’s market focus, particularly to individual investors.

Asia Dragon Trust’s outperformance of the benchmark by 9.5% over the 12 months to 31 August 2019, attests to the Manager’s ability to capture growth from world-class Asian companies.

Taking a bottom-up, fundamentals driven approach that seeks out high-quality companies with effective management, good cash flow and healthy balance sheets at attractive valuations has driven these strong returns. This quality-focused style has returned to favour amid increasing risk aversion from investors.

James Will, chairman of Asia Dragon Investment Trust, said: “Asia Dragon Trust continues to deliver attractive returns, outperforming its benchmark by over 9% over the 12 month reporting period. With the Manager’s ability and commitment to capture available growth by investing in carefully selected world-class Asian companies, we believe that the Company is well-positioned as a cornerstone equity investment for any investor looking to gain access to Asian markets.”

Pruksa Iamthongthong, Investment Director, Aberdeen Standard Investments (Asia) Limited and co-manager of Asia Dragon Trust, added: “We believe that the fundamentals of most Asian economies remain resilient, despite sentiment in the region being subdued as the risks confronting equities continue.

“The US/China conflict over trade and technology shows no signs of abating, and with other geopolitical hotspots emerging, such as the Hong Kong protests and the Japan-Korea dispute over Japan’s curbs on semi-conductor related exports to Korea, there remains a feeling of uncertainty in the markets.

“However our disciplined approach of finding high-quality companies with effective management, good cash flow and healthy balance sheets at attractive valuations helps provide a buffer against any regional economic shocks. We feel confident that this will ensure continued solid returns for the company’s shareholders.”