In an annual report for the year to end-March 2017, the trust said its underlying portfolio of investments had risen by 101.8%, compared to an MSCI China return of 60.6%, since it was taken over by Dale Nicholls.
In the same period the trust’s shares rose by 94.7%, also higher than the trust’s benchmark index although hampered slightly by a widening of the trust’s share-price discount to its net asset value over the period.
The results also indicated a one-year share-price return in the report period of 45.8%, higher than its net asset value return of 38.8% thanks to a tightening of the discount over the period.
The trust has announced a dividend rise to 2.5p per share, 38.9% higher.
Nicholls said: “The market has significantly rewarded investors over the past year.
“Economic fundamentals have clearly improved and this has been reflected at the company level, with many announcing much improved 2016 annual results.”
