The Board of Witan Pacific Investment Trust, the £138m* Asia-Pacific (including Japan) investment trust, confirms its final results for the year ended 31 January 2010.  During the reporting period the Trust enjoyed an outperformance in net asset value (NAV) terms of 3.8%¹ relative to its benchmark, the MSCI AC Asia Pacific Free Index (£) which returned 29.6%. The total shareholder return for the year was 36.1% which reflects a narrowing of the discount since the end of January 2009.

Other highlights over this 12 month period include a final dividend of 2.10p per share representing an increase of 13.5% on the ordinary recurring dividend paid last year. This 2.10p payment represents a doubling of the dividend per share over the past 5 years.

The Trust, now in its fifth year of employing a multi-manager strategy, uses two investment managers, Aberdeen Asset Managers and Nomura Asset Management, who offer distinct but complementary investment styles.  This structure aims to smooth out volatility arising from manager performance: over the 12 months to 31 January 2010, Aberdeen outperformed by 10.2% while Nomura marginally underperformed, returning 29.2% against benchmark returns of 29.6%.   Since the implementation of this strategy, the overall portfolio has outperformed by an average 1.7% per annum².

Gillian Nott, Chairman of the Witan Pacific Investment Trust Board said, “Economic growth, stimulated by concerted action from both governments and Central Banks saw Asia-Pacific equities recover rapidly. However Japan’s stock market, having held up better in 2008, did not participate fully in its neighbours’ rallies and continued its struggle to break out of its two decade era of stagnation with its stock market rising by just 4.7% over the 12 month period, the poorest performer of the countries that make-up the Trust’s benchmark. Nevertheless, indications for 2010 show that so far this year the economic situation, and confidence in the Japanese economy, are improving.

“The unpredictability of market movements and variability of returns within the region vindicate both the Board’s decision in 2005 to adopt a multi-manager structure, and an investment remit that includes Japan as well as the other markets of the region. By holding shares in Witan Pacific, shareholders have been able to participate in the Far East’s good relative equity returns, without the risk of being caught on the wrong side of these fluctuating relative fortunes within the region. Witan Pacific Investment Trust is an attractive option for those investors looking for diversified exposure to the growth in Asian economies.”

For further information visit www.witanpacific.com.

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NOTES TO EDITORS
*Source: 31.1.2010 AIC

¹ Witan Pacific Investment Trust NAV total return 33.4% to 31.1.2010 

² Source: WM Performance Measurement Services 

Witan Pacific Investment Trust plc

Witan Pacific Investment Trust is an Asia-Pacific Trust with assets of £138m (AIC MIS as at 31.1.2010). The Trust moved to a multi-manager structure on 27 May 2005 with Witan Investment Services as Executive Manager.

Witan Investment Services Limited is a wholly owned subsidiary of Witan Investment Trust plc.

Witan Pacific Investment Trust plc is registered as an Investment Company in England No 91798.