Fund Profile


Disclosure – Non-Independent Marketing Communication

This is a non-independent marketing communication commissioned by Schroder AsiaPacific. The report has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the dealing ahead of the dissemination of investment research.

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Schroder AsiaPacific aims to generate long-term capital growth from a portfolio of emerging Asian equities.

The trust has performed well in recent years, with top quintile returns over three and five-year periods; this has been helped by exposure to the technology and consumer discretionary sectors, which the manager, Matthew Dobbs, believes are benefitting from and shaping secular growth trends.

Matthew has run the trust since it was launched in 1995, making him one of the most experienced fund managers in the UK and meaning he has worked through multiple market cycles. He draws on the research of a large team of analysts based on the ground across Asia.

The trust has a dividend yield of 1.5% and has grown its dividend in recent years. The managers caution however that there is no guarantee of it being equalled, or increasing, given the fact that capital growth is the priority and revenue reserves relatively low.

The trust’s discount has traded between 9% and 13% in recent years and currently sits around the middle of that range; the trust has not conducted buybacks since 2016 although the board does have the authority.

Kepler View

The management of this trust is a key advantage in our view. Matthew Dobbs has been at the helm of the trust through the 1998 Asian crisis, the dotcom bubble, the “great moderation” and the 2007 financial crisis – amongst everything else - so knows the market as well as anybody. On top of this, he can draw on the work of almost forty specialist analysts based on the ground in the region, giving him great coverage as well as on-the-ground expertise. It is no surprise that the trust has done well out of secular trends in the technology and consumer sectors, the identification of which can only be made easier through local knowledge. The discount is wide in absolute terms, especially with reference to the wider investment trust universe.

Bull Bear
A highly experienced manager well-resourced in the region Taking an active approach can lead to underperformance for extended periods
A track record of performing well in rising and falling markets There is no immediate catalyst we can see for a re-rating of the discount
An active approach should increase the chance of long-term outperformance This is a risky geography to invest in
Continue to Portfolio

Fund History

07 Jun 2024 Monthly round-up of investment trust news - #1
Jo and Ryan discuss the latest news in the investment trust world...
21 May 2024 Results analysis: Schroder AsiaPacific
A tech overweight and China underweight have contributed to another period of SDP outperformance…
22 Mar 2024 Schroder AsiaPacific Fund plc: Why active investing works in Asia
How a consistent, disciplined investment approach can add value
20 Feb 2024 Fund Analysis
SDP’s pragmatic approach has driven another year of outperformance…
12 Dec 2023 Results analysis: Schroder AsiaPacific
SDP has delivered another year of outperformance, yet still trades at a discount…
15 Nov 2023 Asia’s growth opportunities
World-leading companies and domestic growth stories can be found throughout the region…
15 Nov 2023 The Asian century
Failing to invest in Asia means omitting half the global economy from your portfolio…
14 Jul 2023 Asian investment trusts: an abundance of opportunity
Exploring investors’ renewed enthusiasm for Asian equity...
07 Jul 2023 Investment trusts: Exploring the positive backdrop for Asian equities
Schroder AsiaPacific Fund: Backing the brightest growth prospects in Asia...
01 Jun 2023 Investing in quality companies in Asia, with Schroder AsiaPacific's Abbas Barkhordar - Podcast: Trust Issues #17
We talk China, Vietnam and buy/sell decisions...
23 May 2023 Fund Analysis
SDP has delivered strong long-term outperformance driven by stock selection…
20 Oct 2022 Fund Analysis
SDP invests in quality companies to take advantage of the long-term secular growth opportunities in Asia…
08 Apr 2020 Children of the Revolution
The outperformance of technology hints at an exciting possible future for the market when the virus is beaten…
01 Apr 2020 Fund Analysis
SDP is the standout Asia Pacific trust over ten years…
24 Mar 2020 First in, first out?
We ask whether the brave should be raising their allocation to Asia...
06 Nov 2018 Fund Analysis
Schroder AsiaPacific aims to generate long-term capital growth from a portfolio of emerging Asian equities...
10 Oct 2018 Information overload
Our analysis shows the long-term case for emerging markets remains largely unaffected by much of the negative newsflow surrounding the sector...
16 May 2018 Blast off!
Many institutional investors are structurally underexposed to one of the fastest growing parts of the world even as China A-Shares join the global indices...
19 Apr 2018 When others are fearful...
We ask whether it is time to be greedy after the recent selloff in Asia equities...
19 Apr 2018 Fund Analysis
A quality-oriented Asian equities fund that has performed well throughout the cycle under a highly-experienced manager...
29 Nov 2017 Is high turnover inconsistent with being a long-term investor?
Veteran Asia Pacific fund manager Matthew Dobbs sees no reason why the former should preclude the latter...
19 Jun 2017 The investment trust advantage...
Our event in June saw eight of the UK's most experienced fund managers discuss the outlook for each major asset class...
07 Jun 2017 Fund Analysis
21 May 2017 Brave new world
We ask the top managers in each sector, region and asset class where they see the opportunities in the months ahead...
22 Feb 2017 A challenge of perception
Asian Total Return Investment Company chairman David Brief says the trust's total return focus is misunderstood by many investors....
13 Dec 2016 Small is beautiful
We identify the UK's most efficient trusts, all of which have operational costs below 0.1%...
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