Interim Management Statement

RNS Number : 8011W

Schroder AsiaPacific Fund PLC

03 February 2012

 



SCHRODER ASIAPACIFIC FUND PLC

Interim Management Statement for the Quarter ended 31 December 2011

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 2011 to 31 December 2011.

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 31 December 2011

Gross Assets	£357.03 million
Net Asset Value per Ordinary Share	226.99p
Share Price	207.50p
Discount	8.59%
Number of Holdings	79
Net effective gearing	5.6%
Yield	1.3%

Cumulative Performance to 31 December 2011 (%)

Performance over	3 months	6 months	1 year
Share Price (Total Return)	8.8	(6.1)	(6.5)
Net Asset Value (Total Return)	6.7	(9.3)	(8.8)
MSCI AC Asia (ex Japan) Index (Total Return)	3.6	(15.4)	(16.4)

Data Source: Fundamental Data.

Portfolio Information as at 31 December 2011

Ten Largest Holdings

Stock Name	Country	Market Value (£)	Percentage of NAV
Samsung Electronics	Korea	26,263,833	7.48
Jardine Strategic	Singapore	20,361,238	5.80
Taiwan Semiconductor Manufacturing	Taiwan	13,827,257	3.94
Swire Pacific A	Hong Kong	9,509,688	2.71
Hyundai Motor	Korea	9,188,409	2.62
Fortune Real Estate Investment Trust	Singapore	9,181,913	2.61
Bangkok Bank	Thailand	8,905,822	2.54
Hon Hai Precision Industries	Taiwan	8,863,366	2.52
United Overseas Bank	Singapore	8,418,839	2.40
Axiata Group	Malaysia	8,186,687	2.33

Country Allocation

Country                      Percentage of

                                    NAV

Hong Kong                  25.86

Singapore                   17.47 

Korea                          13.17

Taiwan                        11.14

Thailand                        6.34

India                               5.91

China                             5.23

Australia                        3.44

United States                2.56

Malaysia                        2.33

United Kingdom            1.62  

Indonesia                       1.54

Philippines                     1.17

New Zealand                 1.00

Sweden                         0.95

Vietnam                         0.27

Annual General Meeting

The Annual General Meeting of the Company was held on 1 February 2012. 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 2.75 pence per share for the year ended 30 September 2011. Following approval from shareholders at the Annual General Meeting held on 1 February 2012, the dividend will be paid on 3 February 2012 to shareholders on the Register on 13 January 2012.

Conversion of Subscription Shares

On 14 October 2011 the Company issued 27,995 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 14 October 2011.

On 18 January 2012 the Company issued 1 ordinary share following the exercise of conversion rights by a subscription shareholder. The ordinary share ranks pari passu with the existing ordinary shares and commenced trading on 18 January 2012.

Following these issues there are 145,949,116 ordinary shares and 28,451,600 subscription shares in issue.

Material Events or Transactions

There have been no other material events or transactions that have taken place between 1 October 2011 and the date of publication of this Statement.

Changes to Share Capital during the quarter ended 31 December 2011

	Issued Ordinary shares of 10p each
As at 30 September 2011	145,921,120
Shares issued during the period Shares bought back and cancelled during the period Shares in issue as at 31 December 2011	27,995 Nil 45,949,115

Since the reporting period end, the shares in issue have changed as detailed in "conversion of subscription shares" above

Company Information as at 31 December 2011

Sedol Code                                       0791887

Sector                                                Equity Investment Instruments

Launch Date                                      November 2005

Financial Year End                           30 September

Next Dividend Payment                   February 2012

Last Ex Div Date                               11 January 2012

2012 AGM                                           1 February 2012         

3 February 2012

Enquiries:

John Spedding

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

 

END

 

 

IMSUGURCPUPPGAW