Schroder Asian Total Return Investment plc

"You can’t dine off relative returns, and in Asia we believe the benchmark indices are a poor reflection of the overall investment opportunities. The priority of the Company is to make money, whilst providing an element of capital preservation in a volatile asset class." 

Robin Parbrook & King Fuei Lee
Co-Managers of the Schroder Asian Total Return Investment plc

Latest annual report and accounts


Latest half year report


Alternative Investment Fund Managers Directive (AIFM) Disclosure


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Non-Mainstream Pooled Investments (NMPI) Status

The Company currently conducts its affairs so that its shares can be recommended by IFAs to ordinary retail investors in accordance with the FCA's rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future. The Company's shares are excluded from the FCA's restrictions which apply to non-mainstream investment products because they are shares in an investment trust.

Board of Directors


David Brief


Mr Brief has worked in investment management since 1979. He was Chief Investment Officer of BAE Systems Pension Fund Investment Management Limited from 2001 to 2011, having previously been Chief Investment Officer at both TRW (Lucas) and Courtaulds Pension Scheme. He is a non-executive director of The City of London Investment Trust plc. He was formerly an independent adviser to the British Coal Staff Superannuation Scheme, Rio Tinto Pension Schemes, and J Sainsbury Pension Scheme.


Caroline Hitch

Ms Hitch is currently a Global Multi-Asset Analyst at HSBC Global Asset Management (UK) Ltd. Prior to this, she was Head of Wealth Portfolio Management at the same organisation and was responsible for multi asset portfolios including HSBC’s flagship retail World Selection range. Prior to this, Caroline held several different investment roles including managing institutional global fixed income portfolios. Most -of her career has been with the HSBC Group and she has worked in various locations including Jersey and Hong Kong.



Mike Holt

Mr Holt is a non-executive director of North Midland Construction plc. He was CFO of Low & Bonar PLC, an international performance materials group from 2010 until 2017 and was Group Finance Director of Vp plc from 2004 to 2010. Prior to 2004, he held a number of senior financial positions with Rolls-Royce Group plc in the UK, the USA and Hong Kong. He is a Fellow of the Institute of Chartered Accountants in England & Wales and an associate member of The Association of Corporate Treasurers.


Sarah MacAulay

Ms MacAulay is a non-executive director of JPMorgan Multi-Asset Trust plc, Aberdeen New Thai Investment Trust plc and Fidelity Japan Trust plc. She is also a Trustee of Glendower School Trust, an educational charitable Trust. She was formerly a director of Baring Asset Management (Asia) Ltd and head of Asian equities at Kleinwort Benson Investment Management and Eagle Star Investment Management.

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What are the risks?

Past performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and investors may not get back the amount originally invested.

Investors in the emerging markets and Asia should be aware that this involves a high degree of risk and should be seen as long term in nature.Less developed markets are generally less well regulated than the UK, they may be less liquid and may have less reliable arrangements for trading and settlement of the underlying holdings.

The Company holds investments denominated in currencies other than sterling, investors should note that exchange rates may cause the value of these investments, and the income from them, to rise or fall.

The Company invests in smaller companies that may be less liquid than in larger companies and price swings may therefore be greater than investment companies that invest in larger companies.

The Company may borrow money to invest in further investments, this is known as gearing. Gearing will increase returns if the value of the investments purchased increase in value by more than the cost of borrowing, or reduce returns if they fail to do so.

Investments such as warrants, participation certificates, guaranteed bonds, etc. will expose the fund to the risk of the issuer of these instruments defaulting on paying the capital back to the Company

The fund can use derivatives to protect the capital value of the portfolio and reduce volatility, or for efficient portfolio management.

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Schroders is a world-class asset manager operating from 29 countries across Europe, the Americas, Asia, the Middle East and Africa.

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