Portfolio Update

PACIFIC ASSETS TRUST plc (the “Company”)

All data as at 30 November 2015

This data will be available on the Company’s website, http://www.pacific-assets.co.uk shortly.

Pacific Assets Trust plc as at 30 November 2015

Top Ten Equity Holdings	%
Vitasoy International Holdings	7.1
Tech Mahindra	5.6
Marico	5.3
Standard Foods	3.9
Manila Water	3.7
E.Sun Financial Holding	3.6
Dr. Reddy’s Laboratories	3.4
Taiwan Semiconductor Manufacturing	3.2
Kotak Mahindra Bank	3.0
Idea Cellular	2.8
Total	41.6
Geographical breakdown	%
India	34.0
Taiwan	17.3
Philippines	9.3
Hong Kong	9.2
Indonesia	3.5
China	3.5
Thailand	3.3
Singapore	2.7
Bangladesh	2.3
Sri Lanka	2.3
Malaysia	1.5
South Korea	1.2
United States*	0.6
Net Current Assets	9.3
Total	100.0
Actual Gearing	0.0

*Represented by a company listed in the United States but whose economic activities are predominantly within the Asia Pacific region.

Note: All percentages are based on total assets less current liabilities

- ENDS-

9 December 2015

Frostrow Capital LLP

Secretary