Interim Management Statement

RNS Number : 2852W

Schroder Oriental Income Fund Ltd

23 December 2013

 



SCHRODER ORIENTAL INCOME FUND LIMITED

Interim Management Statement for the quarter ended 30 November 2013

The Board of Schroder Oriental Income Fund Limited (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 September 2013 to 30 November 2013.

Investment Objective

The Company's investment objective is to provide a total return for investors primarily through investments in equities and equity-related investments, of companies which are based in, or which derive a significant proportion of their revenues from, the Asia Pacific region and which offer attractive yields.

Material Events

Third Interim Dividend for the year ended 31 August 2013

The Board declared a third interim dividend of 3.00p per share for the year ended 31 August 2013, which was paid on 29 November 2013 to shareholders on the register on 15 November 2013.

There have been no other material events or transactions that have taken place in respect of the Company between 1 September 2013 and the date of publication of this Statement.

Annual General Meeting

The Annual General Meeting of the Company was held on 4 December 2013. All resolutions set out in the Notice of Meeting were duly passed.

Company Statistics as at 30 November 2013

Gross Assets	£411.1million
Net Asset Value ("NAV") per Ordinary Share	177.98p
Share Price	180.75p
Premium	1.56%
Number of Portfolio Holdings	80
Gearing	4.0%
Yield	4.1%

Cumulative Performance to 30 November 2013

Performance over	3 months	1 year	3years
Share Price (Total Return)	3.8%	5.3%	34.4%
Net Asset Value (Total Return)	(0.3)%	4.5%	34.5%

All Performance Data Source: Morningstar.

Portfolio Information as at 30 November 2013

Ten Largest Holdings

Stock Name	Country	Market Value  (£)	Percentage of NAV
Fortune Real Estate Investment Trust	Singapore	18,876,912	4.8
Taiwan Semiconductor Manufacturing	Taiwan	17,873,192	4.6
LG Chemical	Korea	13,928,636	3.6
HSBC	Hong Kong	13,723,439	3.5
China Petroleum	China	12,153,965	3.1
Sydney Airport	Australia	11,308,017	2.9
BOC Hong Kong	Hong Kong	11,266,805	2.9
Fletcher Building	New Zealand	10,571,211	2.7
Venture Corp	Singapore	10,253,918	2.6
Hopewell Holdings	Hong Kong	10,223,535	2.6

Country Allocation

Country	Percentage of NAV
Australia	24.9
Hong Kong	21.2
Singapore	17.8
Taiwan	10.9
Korea	9.3
Thailand	8.4
China	5.5
New Zealand	4.0
Indonesia	1.7
Philippines	0.7
Net current liabilities	(4.4)

Changes to Share Capital during the quarter ended 30 November 2013

	Issued Ordinary shares of 1p each
As at 1 September 2013	218,191,574
Shares issued during the period Shares repurchased during the period	700,000                Nil
Shares in issue as at 30 November 2013	218,891,574

No shares have been issued or repurchased since the period end.

Company Information as at 30 November 2013

SEDOL Code                                    B0CRWN5

Sector                                                 Equity Investment Instruments

Launch Date                                      July 2005

Financial Year End                            31 August

Enquiries:

John Spedding

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

23 December 2013

 

END

 

 

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