Institutional Investors

FUND OVERVIEW

Perennial Asia Equity Trust

Inception Date

July 1997

Fund Size as at 31/7/2010

$32.10 million

Asset Allocation
As at 31/7/2010

Asset allocation pie chart
ASSET CLASS % ALLOCATION
Hong Kong 38.8
Korea 21.8
Malaysia 3.0
Singapore 5.2
Thailand 1.8
Taiwan 15.5
Indonesia 5.4
India 7.4

Top Stock Holdings
As at 31/7/2010

STOCK % OF TRUST VALUE
SAMSUNG ELECTRONICS 7.1
TAIWAN SEMICONDUCTOR 4.4
CHINA CONSTRUCTION H 4.0
STRAITS ASIA RESOUR 3.2
CHINA MOBILE LTD 3.1


The composition of the Trust's investments is subject to constant change. The holding of securities may vary or be disposed of at any time.

Asia Shares

The Trust provides an actively managed exposure to a portfolio of Asian (excluding Japanese) shares.

Trust Objective

To grow the value of your investment over the long term by investing in a carefully selected portfolio of Asian shares (excluding Japanese shares) and to provide a total return (after fees) that exceeds the return of the MSCI AC Far East Free Accumulation Index (ex-Japan) - unhedged on a rolling three-year basis.

Back to Top 

Suitable Investor Profile

This Trust may be suitable for investors with an investment horizon of five years or more, who are seeking capital growth via specific exposure to a portfolio of investments listed on the Asian (ex-Japan) share markets and who can accept the short term fluctuation in prices typically associated with such investments.

Back to Top 

Fund Facts

Investment Approach

Perennial Asia seeks to identify quality companies with sustainable long-term growth at reasonable valuations with the underlying belief that these companies will show consistent earnings growth and be eventually positively re-valued by the market.

Investment Strategy

The Trust aims to add value by focusing on what Perennial Asia, the investment manager, considers to be well managed companies, with quality earnings potential and long term growth prospects, which have been ignored by investors because of short term concerns about market direction.

The portfolio of the Trust will be focused on a small number of specially selected companies (usually between 35 and 65) from the Asia region. These are predominantly from China, Hong Kong, Taiwan, Philippines, Singapore, Thailand, Indonesia, South Korea and Malaysia.

The typical number of stocks in each market is shown below:

Country No. of stocks
Hong Kong/China 12-20
South Korea 10-18
Taiwan 6-12
Singapore 3-5
Malaysia 3-5
Thailand 1-3
Philippines 0-1
Indonesia 0-1
Total 35-65

 

Currency exposure is generally left unhedged. However, some cover may be taken in periods of extreme currency volatility i.e. currency risk may be hedged in circumstances where it is considered that the Australian dollar is trading at significantly undervalued levels. The maximum level of currency hedging is 50% of the portfolio's currency exposure.

The Trust will attempt to be fully invested at all times, with a cash exposure not exceeding 10% for any length of time.

The Trust is authorised to utilise derivative instruments for risk management purposes, subject to the specific restriction that they cannot be used to gear portfolio exposure.

Back to Top 

Investment Summary

Perennial Asia Equity Trust
Minimum Investment $25,000
Minimum Added Investment $5,000
Risk/Return Profile High
Returns achieved mainly through Growth & Income
Income Distribution Annually
Minimum Recommended Investment Period 5 Years

Back to Top 

Unit Prices

Back to Top 

Distribution

Perennial Asia Equity Trust
Frequency As at Reinvested
NAV Price($)		 CPU Fund Payment CPU * Discounted Capital Gain CPU
Yearly 30/06/10 0.7670 0.0000 0.0000 0.0000
Yearly 30/06/09 0.6476 0.0000 0.0000 0.0000
Yearly 30/06/08 0.7117 4.9948 -- --
Yearly 30/06/07 0.9490 4.3092 -- --
Yearly 30/06/06 0.7887 13.7791 -- --
Yearly 30/06/05 0.8131 8.5962 -- --

* A fund payment is a payment made by a Managed Investment Trust that represents a distribution of its Australian sourced income (other than dividends, interest and royalties).

Back to Top 

Performance and Fees

Perennial Asia Equity Trust
PERFORMANCE TABLE 1 MONTH % P.A. QUARTER % P.A. FIN. YEAR TO DATE % P.A. 1 YEAR % P.A. 2 YEARS % P.A. 3 YEARS % P.A. 5 YEARS % P.A. SINCE INCEPT. % P.A. FEES  
As at 31/7/2010                 Entry Fee (%) NIL
GROSS PERFORMANCE -0.1 1.0 -0.1 8.9 6.4 -4.9 5.3 4.0 Exit Fee (%) NIL
BENCHMARK (MSCI AC Far East ex Japan Accum.) -0.7 1.6 -0.7 4.1 4.8 -4.4 6.7 1.2 Management Fee (% pa) 1.33
VALUE ADDED 0.6 -0.6 0.6 4.8 1.6 -0.5 -1.4 2.8 Performance Fee NIL
NET PERFORMANCE -0.4 0.5 -0.4 7.2 4.8 -6.3 3.8 3.2 Buy/Sell Spread (%) 1.00
Average Annual Compound Rate of Return
As at 31/7/2010 GROWTH RETURN % P.A INCOME DISTRIBUTION RETURN % P.A. TOTAL RETURN % P.A BENCHMARK % P.A *
1 Year 7.2 0.0 7.2 4.1
3 Years -8.4 2.1 -6.3 -4.4
5 Years -1.7 5.6 3.8 6.7
Since Inception -1.9 5.1 3.2 1.2

Back to Top 

Publications

Back to Top 

We are Perennial

Copyright © Perennial Investment Partners Limited 2007, Version 3.30.00

The information on this web site is general in nature. Its accuracy, reliability or completeness is not guaranteed and it does not take into account any person's particular circumstances and needs. Use of the information on this website is governed by Australian law and is subject to the Terms of Use Page. Click here to view our Privacy Policy.

Investment Manager: Perennial Investment Partners Ltd ABN 59 087 901 620, AFSL No. 238763. Sub Manager: Perennial Value Management Limited ABN 22 090 879 904, AFSL No. 247293. Perennial Fixed Interest Partners Pty Limited ABN 35 099 336 357, Perennial International Equities Management Pty Limited ACN 099 336 375, Perennial Growth Management Pty Limited ABN 41 099 336 384 and Perennial Real Estate Investments Pty Limited ABN 35 117 913 685 are Subsidiaries and Authorised Representatives of Perennial Investment Partners Limited.