PM Capital Asian Opportunities downgraded

With the discount to post-tax NTA falling in recent months, we're downgrading PAF.

Since mid-November 2016, shares in listed investment company PM Capital Asian Opportunities (PAF) have risen around 11%, to $1.00. This has reflected improved performance in its portfolio, with pre-tax net tangible assets (NTA) per share rising 7.8%, to $1.11, and post-tax NTA rising 5.5%, to $1.077, over this period.

The LIC also declared a fully franked 2 cent per share interim dividend, which will be paid today. 

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