Interim Management Statement

RNS Number : 1129K

Schroder AsiaPacific Fund PLC

15 August 2012

 



SCHRODER ASIAPACIFIC FUND PLC

Interim Management Statement for the Quarter ended 30 June 2012

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 2012 to 30 June 2012.

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, with the aim of achieving growth in excess of the MSCI All Countries Asia excluding Japan Index in sterling terms (Benchmark Index) over the longer term.

Company Statistics as at 30 June 2012

Gross assets	£391.67 million
Net Asset Value per ordinary share	244.70p
Share price	222.75p
Discount	8.97%
Number of holdings	75
Net effective gearing	2.9%
Yield	1.2%

Cumulative Performance to 30 June 2012 (%)

Performance over	3 months	6 months	1 year
Share price (total return)	(5.61)	8.75	2.11
Net Asset Value (total return)	(4.01)	9.09	0.71
MSCI AC Asia (ex Japan) Index	(5.00)	5.13	(11.10)

Source: Morningstar.

Portfolio Information as at 30 June  2012

Ten Largest Holdings

	Stock Name	Country	Market Value (£)			Percentage of Net asset value
	Samsung Electronics	Korea	25,746,456			7.21
	Jardine Strategic	Singapore	22,294,639			6.24
	Taiwan Semiconductor Manufacturing	Taiwan	20,799,486			5.82
	Fortune Real Estate Investment	Singapore	11,166,242			3.13
	Swire Pacific	Hong Kong	9,945,924			2.78
	Cnooc	Hong Kong	9,568,142			2.68
	Techtronic Industries	Hong Kong	8,846,630			2.48
	LG Chem	Korea	8,461,861			2.37
	Hyundai Motor	Korea	8,104,749			2.27
	Sun Hung Kai Properties	Hong Kong	7,956,531			2.23
Country Allocation Country Percentage of Net Asset Value Hong Kong 27.00 Singapore 18.87 Korea 15.23 Taiwan 11.46 Thailand   7.17 Australia   5.93 India   3.91 China   3.27 United States   3.20 Indonesia   2.20 New Zealand   1.76 Sweden   1.06 Philippines   0.86 Sri Lanka   0.51

Changes to Share Capital

At the beginning of the period, a total of 145,949,116 ordinary shares of 10p each and 28,452,600 subscription shares of 1p each were in issue.

On 16 April 2012 the Company issued 1,680 ordinary shares following the exercise of conversion rights by a number of subscription shareholders. The ordinary shares rank pari passu with the existing ordinary shares and commenced trading on 16 April 2012.

On 16 July 2012 the Company issued 5,275 ordinary shares following the exercise of conversion rights by a subscription shareholder. The ordinary shares rank pari passu with the existing ordinary shares and commenced trading on 16 July 2012.

Following these issues there are 145,956,071 ordinary shares and 28,445,645 subscription shares in issue.

Appointment of a New Director

The Company announced the appointment of Ms Rosemary Morgan as a non-executive Director of the Company, effective from 1 July 2012.

Ms Morgan, aged 58, studied Japanese at university in Australia, Japan and the US and worked as a Japanese equity fund manager for 16 years at John Govett  before joining the Institutional Client team at Fidelity. She was at RBS from mid 2007 where she managed long only and alternative funds of funds specialising in Japan, the Pacific Basin and Emerging Markets. The team moved to Aberdeen Asset Management in February 2010 and she retired in March 2012. She is a Trustee of the London Library Pension Fund and a Director of the Landau Forte Charitable Trust.

Material Events or Transactions

No other material events or transactions have taken place between 1 April 2012 and the date of publication of this Statement.

Company Information as at 30 June 2012

Sedol Code                                       0791887

Sector                                                Equity Investment Instruments

Launch Date                                      November 2005

Financial Year End                           30 September

Next Dividend Payment                   February 2013

15 August 2012

Enquiries:

John Spedding

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

 

END

 

 

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