The Invesco Perpetual Pacific Fund aims to achieve capital growth in the Far East, including Australasia. The fund intends to invest primarily in shares of companies in the Far East, although it may include other Far Eastern related investments.
Asian equities fell during the month as risk aversion rose sharply against a background of volatility in financial sectors. Unprecedented events in the US, including the collapse of Lehman Brothers, prompted heavy falls across Asian markets, which rallied briefly on hopes of a US rescue plan, but ended the month on a weaker trend.Central banks' change in emphasis, from fighting inflation towards supporting growth, was evident in China's first interest-rate cut in six years, and lower consumer price increases in China, Korea and Taiwan during August demonstrated the reduced threat from inflation. Japanese equities were also dominated by events in the US, leaving the Nikkei 225 and the Topix lower over the month.In domestic economic news, export growth declined to 0.3% in August, as US demand experienced its largest ever fall and core inflation was unchanged at 2.4% yearon- year. The Bank of Japan also held interest rates at 0.5% and injected trillions of yen into the financial system to improve liquidity.
2,139.21p
