Schroder Asian Total Return trust to reissue 10% of shares at discount

Shareholders passed resolution

Shareholders of the Schroder Asian Total Return investment company have passed a resolution to allow the trust to reissue up to 10% of its ordinary shares from treasury at a discount.

The discount on the £219m vehicle will be no more than 4% to the net asset value per ordinary share. The trust, co-managed by Robin Parbrook (pictured) and King Fuei Lee, has delivered strong performance since Schroders took over the trust in 2013. Over three years to 14 November, the trust's NAV is up 45%, while its shares have returned 43%, versus the AIC Asia Pacific ex Japan Equities sector average of 26%. OMGI's Zagamé swaps First State for Schroders on Asian mandate John Spedding, head of investment trusts at Schroders, said: "We have recently seen increased interest in th...