Matthews Asia is the largest dedicated Asia investment specialist in the United States and has been actively investing in the region since 1991. Based in San Francisco, it currently manages USD20.9 billion in assets invested across a range of Asia Pacific equity and bond strategies. The mandate will be run in accordance with the Matthews Asia Dividend strategy.
This new mandate, which will represent approximately 9% of the Witan Investment Trust portfolio, will replace the Asia portfolio previously managed by Comgest (c.6.5% of Witan’s assets), whose remit excluded Japan.
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Andrew Bell, Chief Executive of Witan Investment Trust says:
"The appointment of Matthews Asia reflects our belief that Asia’s economies have become increasingly interdependent and although Witan has benefited from being substantially underweight in Japan in recent years this will not always be the case. We therefore believe that having a manager with the ability to allocate capital actively on the basis of stock-specific factors across the entire region is preferable to predetermining allocations to Japan and Asia separately. Matthews’ approach is to concentrate on choosing companies across the whole of the Asia Pacific region that offer attractive and growing dividend-paying characteristics.
This appointment is part of our continuing move to invest more with specialist managers who have innovative and high-conviction approaches towards creating value through stock picking and portfolio construction."
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