Interim Management Statement

RNS Number : 4177X

Schroder AsiaPacific Fund PLC

13 August 2009

 

SCHRODER ASIAPACIFIC FUND PLC

Interim Management Statement for the Quarter Ended 30 June 2009

The Board of Schroder AsiaPacific Fund Plc ('the Company') is pleased to announce its Interim Management Statement as required by the UK Listing Authority's Disclosure and Transparency Rules. This Statement is in respect of the period from 1 April 2009 to 30 June 2009.

Investment Objective

The Company's investment objective is to achieve capital growth through investment primarily in equities of companies located in the continent of Asia (excluding the Middle East and Japan), together with the Far Eastern countries bordering the Pacific Ocean (excluding Australasia), with the aim of achieving growth in excess of the MSCI All Countries Far East (Free) excluding Japan Index in sterling (Benchmark Index) over the longer term.

Company Statistics as at 30 June 2009

Gross Assets	£255.5 million
Net Asset Value per ordinary share (Ex Income)	147.90p
Net Asset Value per ordinary share (Cum Income)	149.17p
Share price	137.00p
Discount (Ex Income)	(7.37)%
Number of holdings	77
Net Gearing	2.43%
Yield	1.75%

Cumulative Performance to 30 June 2009 (in percentage terms)

Performance over	3 m	6 m	1yr
Share Price (Total Return)	19.1	24.6	(5.1)
Net Asset Value (Total Return)	19.2	21.9	(8.7)
MSCI AC Far East (Free) ex Japan Index	15.3	16.7	(2.0)

Data Source: Fundamental Data. 

Portfolio Information as at 30 June 2009

Ten Largest Holdings 

Stock Name	Country	Percentage of NAV
Samsung Electronics	Korea	6.08
Jardine Strategic Holdings	Singapore	5.12
Taiwan Semiconductor Manufacturing	Taiwan	4.64
Jardine Matheson	Hong Kong	4.03
Chunghwa Telecom	Taiwan	2.83
Taiwan Cement	Taiwan	2.81
China Mobile	Hong Kong	2.43
China Steel	Taiwan	2.40
Niko Resources	Canada	2.38
Swire Pacific 'A'	Hong Kong	2.19

Country Allocation         

Country	Percentage of NAV
Hong Kong	28.12
Taiwan	16.29
Korea	16.12
Singapore	13.91
China	8.26
India	4.47
Thailand	4.36
Philippines	3.70
Indonesia	3.30
Australia	1.07
Vietnam	0.40

Material Events or Transactions

On 16 June 2009, the Company announced that the Board was considering proposals for a bonus issue of subscription shares to ordinary shareholders. Subscription shares confer the right (but not the obligation) to subscribe for ordinary shares and are qualifying investments for the purposes of stocks and shares ISAs and SIPPs. The Board believes that subscription shares represent an attractive way in which investors can participate in any future net asset growth of the Company through subscribing for ordinary shares. The announcement indicated that the Board was expecting documents containing recommended proposals to be posted to shareholders in August and that a further announcement would be made in due course. 

There have been no other material events or transactions that have taken place between 1 April 2009 and the date of publication of this Statement.  

Changes to Share Capital during the Quarter Ended 30 June 2009

	Issued Ordinary shares of 10p each
As at 1 April 2009	167,189,762
Shares issued during the period Shares bought back and cancelled during the period	Nil Nil
Shares remaining in issue as at 30 June 2009	167,189,762

Company Information as at 30 June 2009

SEDOL Code	0791887
Sector	Equity Investment Instruments
Launch Date	November 2005
Financial Year End	30 September

Enquiries:

John Spedding

Schroder Investment Management Limited

Tel: [phone]

13 August 2009

 

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