The long-awaited US interest rate cuts coupled with the slowdown of China’s economy contributed to a set of “mixed returns” in the provisionally merged Asia Dragon trust, which lagged its benchmark.
In the company's annual financial results, covering the year end 31 August, it reported a 9.3% increase in net asset value, lagging the MSCI AC Asia ex Japan benchmark index which rose 12%. This was, however, a positive shift for the trust overall versus the same period in 2023 when it reported a 16.7% decline in NAV. Regarding performance, chair James Will said there was an "initial weakness in late 2023" but this stabilised by August 2024 following a "reset" when the company merged with abrdn New Dawn trust in November 2023. abrdn and Invesco Asia-focused trusts agree merger to f...
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