Scottish Oriental Smaller Companies (SST) was launched in 1995 to invest in smaller companies across Asia. It has generated a share price total return of around 11% a year since its IPO, well ahead of the regional small-cap index and with a particularly strong period of returns from 2002 to 2017. It holds around 50 positions and targets "preserving capital and growing it sensibly" by avoiding companies with poor managers, weak franchises, and poor governance and, as it sometimes says, seeking "growth at a Scottish price." The trust's original management firm was Stewart Ivory & Company, wh...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
abrdn Asia Focus (ticker: AAS) was launched in 1995 to invest in Asian smaller companies and it was managed up until last year by Hugh Young. It is now led by the team of Flavia Cheong, Gabriel Sacks, and Ng Xin Yao. The trust holds around 50 stocks that it believes are well-governed, have sustainable profitability, and strong balance sheets while also being under-researched by mainstream analysts. Portfolio turnover has been on the low side at around 20% a year with AAS preferring to be a long-term partner of the businesses it invests in rather than trading in and out. The trust has returned ...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
UPDATE (Oct 2026): In the year to July 2024, FAS returned +3.2% versus +13.7% for its benchmark, followed by +12.4% versus +7.1% to July 2025, and +10.9% versus +8.9% in the six months to January 2026. The trust celebrated its 30th birthday in June 2026, saying that each £1 invested at launch, with dividends reinvested to 30 June 2026, would be worth £8.05.
Fidelity Asian Values (ticker: FAS) was launched in 1996, not long before the Asian Financial Crisis, so its first few years proved difficult but over time it has built up a solid performance record. Nitin Bajaj took over as lead manager i...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
© 2026 Money Makers