Schroder Asian Total Return (ATR)

Schroder Asian Total Return’s (ATR) managers, Robin Parbrook and King Fuei Lee employ a sophisticated strategy that combines bottom-up stock selection to identify high quality companies that can capture the growth potential of the region, along with a top-down overlay to help mitigate the downside risk. They have over 17 years of experience working together on this strategy, including nearly 12 years on ATR, and have produced numerous periods of very strong Performance. This includes outperforming their reference index in seven of the past nine calendar years. The trust was awarded Kepler’s Growth Rating for 2025.

The managers’ portfolio construction is purely bottom-up. They have divided their universe into four investment clusters designed to capture a diverse range of areas with different drivers, with stock selection supported through input from the extensive, on-the-ground analyst resource at Schroders, and in-house quantitative models. They have had a long-standing allocation to Taiwan and Korea, in particular to the countries’ tech companies, as well as Singapore and Australia, the region’s two more developed countries, which have attractive total return characteristics. This has increased the trust’s defensive characteristics, in a period of notable volatility. By contrast, the managers have a low allocation to China and Hong Kong, although this has narrowed in the past year as they have added to existing holdings at better valuations in the market turmoil (see Portfolio).

As a result of the long-term track record, the trust typically trades close to NAV, and usually at a premium rating to the peer group. The Discount, as at 29/08/2025 is 3.8%, which is the narrowest in the sector.