Multi-manager Asia-Pacific/Japan investment
Witan Pacific Investment Trust (WPC) has a multi-manager approach, aiming to generate capital and income growth from a diversified portfolio of primarily Asian equities, including Japan and Australia. WPC currently has three external managers: Aberdeen, GaveKal and Matthews; they follow different investment strategies but are all unconstrained versus the benchmark (MSCI AC Asia Pacific Free Index). WPC has a competitive fee structure and aims to generate real growth in annual dividends; its current dividend yield is 1.5%. In FY17, investment performance was strong in absolute terms but lagged the index and its peers. However, so far in FY18 all three external managers are outperforming the benchmark. Since adopting the multi-manager approach in 2005, WPC has outperformed in eight out of 12 financial years.
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- Multi-manager Asia-Pacific/Japan investment30 May 2017