Ann: Half Yearly Report and Accounts, page-6

As if China being one of the cheapest markets with the strongest growth prospects wasn't enough, now it will likely be the first to emerge from the pandemic. Four Corners sensationalism aside, and despite the initial slow reaction, chatting with locals and expats on the ground, all have unanimously praised the Chinese government's swift and stringent efforts on containment.

Also keeping in mind, PAI's holdings are largely focussed on local consumption and services. So any emerging global issues will have little effect on PAI's holdings.

Ideally from an investment viewpoint, PAI will be swept along with the tide of negativity and the discount to NTA will further extend. From this investor's perspective and with a 5-10 year horizon. it looks like one of the safer bets.