Pacific Horizon lags its benchmark

11th Mar 2011 15:50

Asia-Pacific and India-focused investment trust Pacific Horizon saw its net asset value (NAV) per share rise 10.8% in the six months to 31 January 2011, a performance that lagged its benchmark index, the MSCI All Country Far East excluding Japan, which rose by 14.6% in sterling terms over the same period.Earnings per share for the six months were 0.17p compared to 0.10p in the first half of the previous year. As in previous years, no interim dividend will be paid.The best performing markets were Taiwan, Korea and Thailand, which posted gains of 27.2%, 21.4% and 15.1% in sterling terms respectively. The weakest were Vietnam, India and China with returns of 0.3%, 1.4% and 2.8% respectively in sterling terms."The outlook remains bright for the markets of the Asia Pacific region. Economic performance is expected to be robust with the many structural drivers of growth continuing to present an attractive backdrop for our companies," the company said. "The company remains ungeared with a low cash balance and expects to be able to take advantage of future opportunities as they arise," the statement added.