Updates

ASA International

November 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

ASA, which provides microfinance to female entrepreneurs in Asia and Africa, continues to be hurt by the fact that it makes money in countries whose currencies are weakening against the US$ but is obliged to report its results in dollars. This “translation effect” has led to downgrades to its forecasts.Results themselves were quite good, as during the six months ended 30th June, the number of clients rose 15% year-on-year to 2.3m while the number of lending branches increased 16% to 1,812. Net profit rose 95% to US$16m year-on-year. South Asia (India, Pakistan) grew net profit 11% to US$7.5m while South East Asia (Philippines, Myanmar) grew profit 33% to US$2.3m. The other major market, West Africa (Ghana, Nigeria), inc ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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