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5 May 2021 | 07:24am
StockMarketWire.com - Asian stock picker Schroder Oriental Income Fund reported a positive first-half performance as markets continued to bounce back on Covid-19 recovery hopes.
The company s net asset value total return per share for the six months through March rose 21%, comparing to a 17% rise in its reference benchmark.
Schroder Oriental Income declared two interim dividends for the half totalling 3.8p, unchanged year-on-year.
The company said stock prices had been driven higher by a cocktail of liquidity, fiscal stimulus, hopes of a successful vaccine rollout and the prospect of a recovery in earnings. Aggregate valuations are now well above long term averages and increasingly starting to price in a strong recovery in earnings, it said.