Pacific Assets widens investment scope beyond Asia Pacific sector

The board of the £162m Pacific Assets investment trust, managed by First State, has widened its parameters to allow investments in companies located outside of the Asia Pacific region. The trust's managers David Gait and Stuart Paul are now able to invest up to 20% of the portfolio in stocks listed outside the region, providing their economic activities are based within Asia Pacific. The board said in a statement it decided to shake-up the investment objective  to  allow  the managers to tap into companies benefitting from growth in the region despite being listed elsewhere. "We st...