It’s a little over a year since Aberdeen Standard Asia Focus decided to trim its portfolio in an attempt to improve its performance (Greig Cameron writes). Stakes in Cabcharge, an Australian taxi operator, Hong Leong Finance, a financial services firm, and FJ Benjamin, a retailer, were among those ditched. The refreshed strategy, which began in November 2018, focuses on 30 core holdings and a mix of up to 30 others, compared with about 80 investments previously.
Nor was this the only change. Hugh Young, a veteran Asia specialist, was selected as sole named fund manager, having previously been part of a five-strong team picking stocks. And he seems satsified with the way things are going.
“The portfolio is in good shape and the businesses are