Interim Management Statement

RNS Number : 6182L

Schroder AsiaPacific Fund PLC

13 August 2013

 



SCHRODER ASIAPACIFIC FUND PLC

Interim Management Statement for the Quarter Ended 30 June 2013

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 2013 to 30 June 2013.

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 2013

Net assets	£473.6 million
Net Asset Value per Ordinary share	279.07p
Ordinary Share Price	248.50p
Discount	10.95%
Number of Portfolio Holdings	74
Gearing	1.2%

Cumulative Performance to 30 June 2013 (Total Return Basis)*

Performance over	3 months	6 months	1 year
Share price	(7.10)%	1.23%	13.05%
Net Asset Value	(6.22)%	1.89%	15.42%
MSCI AC Asia (ex Japan) Index	(5.10)%	1.16%	12.89%

*Source: Morningstar.

Material Events or Transactions

Resignation of Director

Mr Robert Boyle stepped down from the Board with effect from 28 June 2013. The Board thanks him for his valuable contribution to the Company during his tenure.

No other material events or transactions have taken place between 1 April 2013 and the date of publication of this Statement.

Portfolio Information as at 30 June 2013

Ten Largest Holdings

Stock Name	Country	Market Value (£)	Percentage of         NAV
Taiwan Semiconducor	Taiwan	27,237,197	5.8
Samsung Electronics	Korea	25,798,120	5.4
Jardine Strategic	Singapore	25,082,350	5.3
Sun Hung Kai Properties	Hong Kong	18,297,456	3.9
Fortune Real Estate Investment Trust	Singapore	17,347,449	3.7
Hyundai Motor Company	Korea	16,982,664	3.6
HSBC	Hong Kong	12,794,254	2.7
Bangkok Bank	Thailand	11,981,849	2.5
Kerry Properties	Hong Kong	11,870,085	2.5
Baidu	China	10,479,612	2.2

Country Allocation

Country	Percentage of NAV
Hong Kong	28.4
Singapore	17.9
Korea	13.8
Taiwan	12.0
India	8.7
Thailand	7.2
China	3.8
Australia	2.7
Philippines	2.4
Indonesia	2.1
United States	2.1
Sri Lanka	0.8
Net current liabilities	(1.9)

Changes to Share Capital during the quarter ended 30 June 2013

On 21 June 2013, all of the Company's issued Subscription shares were redeemed and cancelled.

There were no other changes to the Company's issued share capital during the quarter. At the date of this Statement, there remain a total of 169,700,716 Ordinary shares of 10p each in issue, with each share carrying one right to vote. The total number of voting rights in the Company is therefore 169,700,716. The Company does not hold any shares in treasury.

Company Information as at 30 June 2013

Sedol Code                                         0791887

Sector                                                 Equity Investment Instruments

Launch Date                                       November 2005

Financial Year End                              30 September

Enquiries:

John Spedding

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

13 August 2013

 

END

 

 

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