Interim Management Statement

RNS Number : 8761M

Schroder AsiaPacific Fund PLC

05 February 2009

 



SCHRODER ASIAPACIFIC FUND PLC

Interim Management Statement for the Quarter ended 31 December 2008

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 October 2008 to 31 December 2008. 

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 31 December 2008

Gross Assets	£220.78 million
Net Asset Value per Ordinary Share (ex income)	121.53p
Share Price	110.00p
Discount	9.5%
Number of Holdings	83
Net Effective Gearing	1.72%
Yield	2.18%

Cumulative Performance to 31 December 2008 (%)

*Performance over	3 m	6 m	1yr
Share Price (Total Return)	(0.5)	(23.8)	(37.8)
Net Asset Value (Total Return)	(6.0)	(25.1)	(40.1)
MSCI AC Far East Free (ex Japan)	(1.3)	(16.0)	(31.3)

All Performance Data Source: Fundamental Data. 

*£ equivalent.

Portfolio Information as at 31 December 2008

Ten Largest Holdings 

Stock Name                                                      Country               Percentage of NAV (%)

Samsung Electronics                                            Korea                   6.26

Swire Pacific                                                       Hong Kong           5.36

Taiwan Semiconductor Manufacturing                  Taiwan                 4.36

Jardine Strategic                                                  Singapore             4.32

China Mobile                                                       Hong Kong          4.24

Jardine Matheson                                                 Hong Kong          3.74

China Unicom                                                      Hong Kong          3.03

KT & G                                                               Korea                  2.99

Ping An Insurance                                                China                   2.93

Cairn India Promisory Note 24/10/12                   India                    2.48

Country Allocation         

Country            Percentage of NAV (%)

Hong Kong        36.25

Korea                16.56

Singapore           12.68

Taiwan               10.14

China                   9.28

Philippines            4.68

Thailand               2.91

Indonesia             2.81

India                    2.55

Canada                1.54

Vietnam               0.44

Malaysia              0.16

Annual General Meeting

The Annual General Meeting of the Company was held on 28 January 2009. All resolutions set out in the Notice of Meeting were duly passed.

Final Dividend

The Directors have recommended the payment of a final dividend of 2.40 pence per share for the year ended 30 September 2008. Following approval from shareholders at the Annual General Meeting held on 28 January 2009, the dividend was paid on 4 February 2009 to shareholders on the Register on 5 January 2009.

Material Events or Transactions

There have been no material events or transactions that have taken place between 30 September 2008 and the date of publication of this Statement.  

Changes to Share Capital during the quarter ended 31 December 2008

	Issued Ordinary shares of 10p each
As at 30 September 2008	167,189,762
Shares issued during the period Shares bought back and cancelled during the period	Nil Nil
Shares remaining in issue as at 31 December 2008	167,189,762

Company Information as at 31 December 2008

Sedol Code                          0791887

Sector                                  Equity Investment Instruments

Launch Date                       November 2005

Financial Year End             30 September

Last Dividend Payment     4 February 2009

Last Ex Div Date               5 January 2009

Last AGM                          28 January 2009    

5 February 2009

Enquiries:

John Spedding
Schroder Investment Management Limited
Company Secretary
Tel: [phone]

 

END

 

 

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