Overview
Pacific Horizon aims to achieve capital growth through investment in the Asia-Pacific region (excluding Japan) and the Indian Sub-continent.. The Company may also invest in companies based in the region and in investment funds specialising in the region or particular countries or sectors within it even if they are listed elsewhere. The maximum permitted investment in such companies is 15% of gross assets.
The portfolio contains companies which the Managers have identified as offering the potential for long term capital appreciation, irrespective of whether they comprise part of any index. The portfolio is actively managed and will normally consist entirely of quoted equity securities although unlisted companies, fixed interest holdings, or other non equity investments, may be held. The Company is also permitted to invest in other pooled vehicles (general, country and sector specific) that invest in the markets of the region.
We have written notes that explain how the fund works:
- “2018 re-calibration paying off” published in November 2019, looked at the positive effects of recent portfolio changes
- “Pause for breath?”, published in November 2018, looks at a reversal of fortune for PHI after a rough three months but it may be short lived
- “Top of the pops!”, published in October 2017, notes how PHI is benefiting from a strong Asia ex Japan region as well as the rise of the Asia’s middle class
- “Brave new world”, published in October 2016, details the substantial exposure PHI has in the technology sector and the considerable potential of the portfolio
- “Investor in Asian growth”, published in march 2016, looks at how PHI has underpreformed but could preform well in a less risk averse environment
You can access the manager’s website here
Fundamentals
Price
Research History
-
20 Jan 2021 46 min read
Pacific Horizon – Powered by technology
Pacific Horizon (PHI) generated a sizeable uplift in its NAV over the course of 2020. This appears to reflect its focus on growth, and technology and biotech stocks in particular. These performed well as the world attempted to adjust to life under the pandemic, thereby accelerating a number of structural trends. PHI provided an NAV […]
-
46 min read
Pacific Horizon – Powered by technology
Pacific Horizon (PHI) generated a very impressive uplift in its NAV over the course of 2020. This reflects its focus on growth, and technology and biotech stocks in particular. These performed well as we attempted to adjust to life under the pandemic, thereby accelerating a number of structural trends. PHI provided an NAV total return […]
-
47 min read
Pacific Horizon – Powered by technology
Pacific Horizon (PHI) generated a very impressive uplift in its NAV over the course of 2020. This reflects its focus on growth, and technology and biotechnology stocks in particular. These performed well as we attempted to adjust to life under the pandemic, thereby accelerating a number of structural trends. PHI provided an NAV total return […]
-
12 Nov 2020 9 min read
QuotedData’s Investment Companies Roundup – November 2020
Investment Companies Monthly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research Performance data Discounts and premiums Money in and out Major news stories Events Guide Legal New research Here is a list of research we published over October: Herald Investment Trust – Hot chips “Reflecting its focus on technology, […]
-
16 Oct 2020 15 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research Guide The legal bit Stubborn resistance The end […]
-
09 Oct 2020 10 min read
QuotedData’s Economic Roundup – October 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
-
14 Jul 2020 13 min read
QuotedData’s Investment Companies Quarterly Review – Second Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research Guide The legal bit When the going gets […]
-
07 Jul 2020 10 min read
QuotedData’s Investment Companies Roundup – July 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over June: CQS New City High Yield – […]
-
08 Jun 2020 10 min read
QuotedData’s Investment Companies Roundup – June 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over May: GCP Infrastructure – […]
-
24 Jan 2020 28 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
-
08 Nov 2019 28 min read
Pacific Horizon – 2018 re-calibration paying off
2018 re-calibration paying off Moves by Pacific Horizon’s (PHI) manager Ewan Markson-Brown to re-position the portfolio by lowering its allocation to technology stocks, and excellent returns to-date from stock picks made in 2018, are paying off. PHI is the best-performing Asia Pacific fund in net asset value (NAV) terms over the year-to-date. Following a poor […]
-
28 min read
Pacific Horizon – 2018 re-calibration paying off
2018 re-calibration paying off Moves by Pacific Horizon’s (PHI) manager Ewan Markson-Brown to re-position the portfolio by lowering the allocation to technology, and excellent returns to-date from stock picks made in 2018, are paying off. PHI is the best-performing Asia Pacific fund in net asset value (NAV) terms over the year-to-date. Coming off a poor […]
-
07 Oct 2019 8 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
-
22 Mar 2019 2 min read
QuotedData’s economic roundup – March 2019
QuotedData’s economic roundup – March 2019 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
-
2 min read
QuotedData’s investment companies roundup – March 2019
QuotedData’s investment companies roundup – March 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2019. Kindly sponsored by Baillie Gifford. JPMorgan Chinese, Fidelity China and Pacific Horizon benefited from a booming Chinese market in […]
-
25 Jan 2019 2 min read
QuotedData review of 2018 – Annual report investment companies
QuotedData review of 2018 – Annual report investment companies 2018 – the return of volatility A trade war, Brexit, US interest rate rises, slowing Chinese growth, a US government shutdown, a dispute over Italy’s budget, the Skripal poisonings, numerous elections – there was plenty to worry about in 2018. A last-minute dive left the US […]
-
08 Nov 2018 1 min read
Pacific Horizon – Pause for breath?
Pacific Horizon – Pause for breath? After two years of strong performance, Pacific Horizon (PHI) has suffered a reversal of fortune over the last three months. Sentiment swung against both China and the technology sector (both significant portfolio weights for PHI), with savage share price falls in some areas. However, it is possible that this reversal of […]
-
1 min read
Pacific Horizon – Pause for breath?
After two years of strong performance, Pacific Horizon (PHI) has suffered a reversal of fortune over the last three months. Sentiment swung against both China and the technology sector, with savage share price falls in some areas. However, this reversal of fortune may prove to be short-lived if China and the US can agree a […]
-
16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
-
12 Oct 2018 2 min read
QuotedData’s Economic round up – October 2018
QuotedData’s Economic round up – October 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
-
1 min read
QuotedData’s investment companies roundup – October 2018
QuotedData’s investment companies roundup – October 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in September Trian Investors 1 is a new fund that will adopt […]
-
11 May 2018 1 min read
QuotedData’s investment companies roundup – May 2018
QuotedData investment companies roundup – May 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2018. Kindly sponsored by Baillie Gifford. India Capital Growth has experience a rebound in performance in the past month, as […]
-
25 Apr 2018 2 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
-
18 Jan 2018 2 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
-
10 Nov 2017 2 min read
QuotedData’s economic round up – November 2017
QuotedData’s economic round up – November 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
-
30 Oct 2017 1 min read
Pacific Horizon – Top of the Pops!
Pacific Horizon – Top of the Pops! – Pacific Horizon (PHI) has benefitted strongly as both the Asia ex Japan region and technology stocks, to which PHI has a significant exposure, have rallied. This has seen it move up the competitor peer-group rankings so that it is first and second, in terms of NAV total return, over […]
-
1 min read
Pacific Horizon – Top of the Pops!
Pacific Horizon – Top of the Pops! – Pacific Horizon (PHI) has benefitted strongly as both the Asia ex Japan region and technology stocks, to which PHI has a significant exposure, have rallied. This has seen it move up the competitor peer-group rankings so that it is first and second, in terms of NAV total […]
-
10 Apr 2017 1 min read
QuotedData’s round up of views on the global economy – April 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
-
31 Jan 2017 1 min read
QuotedData – 2016 review of the year
Our review of 2016 includes performance data, significant moves in discounts and premiums, money raised and money handed back, major news stories and links to the research we have published including our guide to investment companies. 2016 Annual roundup
-
07 Dec 2016 1 min read
QuotedData investment companies roundup – December 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2016. december-investment-companies-roundup
-
08 Nov 2016 1 min read
QuotedData investment companies roundup – November 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2016. november-investment-companies-roundup-2
-
27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
-
13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
-
10 Oct 2016 2 min read
Pacific Horizon – Brave new world
Marten & Co published an update on the company entitled Pacific Horizon – Brave new world The company’s performance has started to improve over the past few months, yet Baillie Gifford’s Ewan Markson-Brown and Roderick Snell, thinks that there is still considerable potential for the portfolio. He believes that some of the themes that he […]
-
1 min read
Pacific Horizon – Brave new world
Pacific Horizon’s (PHI)’s performance has started to improve over the past few months, yet the manager thinks that there is still considerable potential for the portfolio. He believes that some of the themes that he is focusing on could radically alter all our lives and that many Asian companies will be at the forefront of […]
-
09 Aug 2016 1 min read
Edinburgh Dragon – Returning to form
Edinburgh Dragon Trust (EFM) is the largest and one of the most liquid investment companies focused on the Asia ex Japan region. Its strong focus on quality has served it well over the long term. EFM’s manager says that an environment of very low interest rates has distorted markets, with the result that EFM’s focus […]
-
21 Mar 2016 2 min read
Pacific Horizon – investor in Asian growth
Pacific Horizon – investor in Asian growth Marten and Co publishes its first initiation of coverage note on Pacific Horizon (PHI) The company is unashamedly a growth fund and its Asia-focused portfolio has significant overweight exposures to technology and biotechnology. However, it would appear that, investors are shying away from Asia because of weak Chinese growth and […]
-
1 min read
Pacific Horizon – investor in Asian growth
Please click on the link above to access our initiation note on Pacific Horizon. Pacific Horizon (PHI) is unashamedly a growth fund and its Asia-focused portfolio has significant overweight exposures to technology and biotechnology. However, it would appear that, investors are shying away from Asia because of weak Chinese growth and are seeking safety in […]
News
-
29 Sep 2020 5 min read
Amazing results from Pacific Horizon
Amazing results from Pacific Horizon – over the year ended 31 July 2020, Pacific Horizon generated returns of 39.9% in NAV terms and 57.5% in share price terms compared to 5.1% from the MSCI All Country Asia ex Japan Index in sterling. There will be a small dividend this year – just 0.25p – the manager […]
-
06 Sep 2019 1 min read
QuotedData’s other news 6 September 2019
In QuotedData’s other news 6 September 2019 – International Public Partnerships has announced its interim results for the six months ending 30 June 2019. Key financial highlights include: NAV per share growth to 150.3 pence (31 December 2018: 148.1 pence); Interim dividend increase to 3.59 pence per share (30 June 2018: 3.50 pence per share); […]
-
5 min read
Pacific Horizon has a better second half
Pacific Horizon (PHI) has announced its annual results for the year ended 31 July 2019; it has benefited from a better second half performance. During the year as a whole, PHI saw its fall by 1.9% on a total return basis, compared to a 4.2% rise in the MSCI All Country Asia ex Japan Index […]
-
17 Dec 2018 2 min read
Pacific Horizon to pay lower charge on first tier of management fee
Pacific Horizon Investment Trust has announced a change to the first tier of its management fee that is beneficial to shareholders. With effect from 1 January 2019, the annual management fee will be charged at a rate of 0.75% on the first £50m of net assets, at 0.65% on the next £200m of net assets […]
-
05 Oct 2018 9 min read
Pacific Horizon reports on positive year
Pacific Horizon reports on positive year – Pacific Horizon Investment Trust reports that, in the year to 31 July 2018, its NAV total return was 13.6%. During the same period the MSCI All Country Asia ex Japan Index total return was 6.0% in sterling terms. The share price total return was 26.9% and the shares ended the […]
-
10 Sep 2018 3 min read
Strong stock selection delivers for Pacific Horizon’s shareholders
Pacific Horizon (PHI) – Strong stock selection delivers for Pacific Horizon’s shareholders. The company’s NAV rose by 13.6% on a total return basis. This was an outperformance of 7.6% of the company’s benchmark, the MSCI AC Asia ex-Japan index, which returned 6.0% on the same basis. The share price returned 26.9% (total return), an outperformance of 20.0%. Strong stock selection delivers for Pacific […]
-
19 Jan 2018 1 min read
Investment Trust Insider on Scottish Mortgage
Investment Trust Insider on Scottish Mortgage – The investment company industry had a good 2017. Money flooded into the sector; we got a couple of new and potentially fast-growing sub-sectors in the form of social housing and biotech debt; discounts narrowed; and, in general, performance was pretty good. By my reckoning, the average equity-focused investment […]
-
09 Oct 2017 8 min read
Stellar year for Pacific Horizon
Stellar year for Pacific Horizon – In the year to 31 July 2017, Pacific Horizon’s NAV total return was 38.5%. During the same period, the total return of the comparative index, the MSCI All Country Asia ex Japan Index, was 28.6% in sterling terms. The share price total return was 42.5%, and the discount narrowed from […]
-
01 Mar 2017 4 min read
Pacific Horizon’s biotech positions and Samsung underweight lead to modest underperformance
Pacific Horizon (PHI), managed by Ewan Markson-Brown (pictured), has announced its interim results for the six months ended 31 January 2017. During the period, the Trust’s NAV total return was 9.7%. The share price total return was 8.0% as the discount widened from 10.1% to 11.4%. The Trust says that, over the same period the […]
-
09 Sep 2016 3 min read
Pacific Horizon changes tender arrangements
Since its AGM in 2013, Pacific Horizon has asked shareholders each year for authority to implement, at the Board’s discretion, a bi-annual tender offer for up to 5% of its issued share capital (depending on the average level of its discount during the prior six month period). The Board, taking into consideration the need for the fund to have sufficient […]
-
21 Apr 2016 1 min read
Top ten risers and fallers in March
http://view.ceros.com/citywire/it-insider-april-2016/p/21 Investors appeared to have a greater appetite for risk during March, with trusts which have invested in Brazil, Latin America, and Russia all featuring in the top 10 risers.
-
04 Mar 2016 2 min read
Chinese internet stocks help Pacific Horizon outperform
Pacific Horizon’s interim results for the six months ended 31 January 2016 have been published. These show that its net asset value per share fell 6.1% to 185.64p. The share price fell 11.9% and the discount widened from 8.2% to 13.8%. Over the same period the MSCI All Country Asia ex Japan Index fell 7.4% […]
-
10 Sep 2015 2 min read
Pacific Horizon caught by Chinese market falls
Pacific Horizon has published results for the year ended 31 July 2015. Over the year the fund delivered an NAV return of -1.6% a bit behind the MSCI All Country Asia ex Japan Index which decreased by 0.9%. shareholders did better however as the share price increased by 2.2% and the discount narrowed from 11.5% […]
-
05 Mar 2015 1 min read
Over half of Pacific Horizon invested in Technology stocks
Over the six months ended 31 January 2015, Pacific Horizon’s net asset value per share rose 7.9% to 216.74p. The share price rose 12.5% and the discount narrowed from 11.5% to 7.7%. Over the same period the MSCI All Country Asia ex Japan Index rose 8.5% in sterling terms. The manager has been increasing the […]
-
11 Sep 2014 1 min read
Pacific Horizon growth bias pays off
PHI : Pacific Horizon growth bias pays off Pacific Horizon results for the year ended 31 July 2014 were good. The net asset value return was 10.4%, comfortably ahead of the MSCI AC Asia ex Japan Index which returned 4% in Sterling terms. Shareholders did even better as the trust’s discount narrowed, leaving them with […]
-
18 Mar 2014 1 min read
Pacific Horizon : PHI – change of manager
The Board of Pacific Horizon, led by Jean Matterson (pictured), has appointed Ewan Markson-Brown as its portfolio manager. He will be assisted by Roderick Snell, the current deputy manager. Ewan used to work at PIMCO Europe and before that Newton Investment Management.
Upcoming Events
Videos
In The Press
-
04 Jan 2021 2 min read
2020’s investment trust winners: time to take profits?
2020’s investment trust winners: time to take profits? December 30, 2020 By Dave Baxter The enormous sell-off that took hold in February and March was swiftly followed by a fierce rally that has come to dominate much of the year. MSCI World index rose by nearly 40 per cent in sterling terms between the start of […]
-
22 Dec 2020 2 min read
Moving Apart
Moving Apart Trustnet magazine, Issue 68, December 2020 Cherry Reynard This year saw a stark divide between the winners and losers, but nowhere was this more apparent than the investment trust universe, writes Cherry Reynard This year has been a tumultuous one and the investment trust industry has reflected its highs and lows. Despite the […]
-
05 Oct 2020 2 min read
Investment trust insider on Asian technology
Investment trust insider on Asian technology – James Carthew: there’s a lot of Asia tech we’re missing I met Mark Sheppard, the fund manager and leading shareholder of Manchester & London (MNL), last week. He was adamant that it was madness that most UK investors’ portfolios were very underweight US technology stocks and had next to […]
-
23 Jul 2020 2 min read
Analysts back move to China mandate
Industry reaction: Baillie Gifford move could give Witan Pacific a ‘new lease of life’ Analysts back move to China mandate David Brenchley Investment Week 23 July 2020 Investment company analysts have backed plans for Baillie Gifford to transition Witan Pacific from a region generalist to a China specific vehicle. Witan Pacific’s board told investors on […]
