Proposed increase in the dividend

Martin Currie Asia Unconstrained Trust (MCP) adopted Martin Currie’s Asia Long-Term Unconstrained (ALTU) strategy in July 2014, aiming to generate returns in line with Asia-Pacific ex-Japan GDP growth. The trust has consistently traded at a wider discount than its peers, but the differential has recently narrowed following the board’s proposal on 4 April 2017 to increase the dividend meaningfully. Based on MCP’s end-FY17 ex-income NAV, the dividend yield would more than double, lifting the yield to c 4.5%. MCP has outperformed its Asian GDP growth benchmark since adopting the ALTU strategy and over shorter time periods, with particularly strong relative performance over the last 12 months, helped by sterling weakness.