Interim Management Statement

RNS Number : 0348M

Schroder Oriental Income Fund Ltd

10 July 2014

 

SCHRODER ORIENTAL INCOME FUND LIMITED

Interim Management Statement for the quarter ended 31 May 2014

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 March 2014 to 31 May 2014.

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

Second and Third Interim Dividends in respect of the year ending 31 August 2014

The Board declared a second interim dividend of 1.50p per share in respect of the year ending 31 August 2014, which was paid on 30 April 2014 to shareholders on the register on 22 April 2014.

Following the quarter end, the Board has declared a third interim dividend of 1.50p per share in respect of the year ending 31 August 2014, which will be paid on 31 July 2014 to shareholders on the register on 18 July 2014.

There have been no other material events or transactions that have taken place in respect of the Company between 1 March 2014 and the date of publication of this Statement.

Company Statistics as at 31 May 2014

Gross Assets	£435.2million
Net Asset Value ("NAV") per Ordinary Share	183.16p
Share Price	183.25p
Premium	0.05%
Number of Portfolio Holdings	75
Gearing	6.2%
Yield	4.1%

 

Cumulative Performance to 31 May 2014

Performance over	3 months	1 year	3 years
Share Price (Total Return)	11.7%	(7.0)%	33.1%
NAV (Total Return)	7.6%	(4.7)%	30.9%

All Performance Data Source: Morningstar.

Portfolio Information as at 31 May 2014

Ten Largest Holdings

Stock Name	Country	Market Value (£)	% of NAV
Taiwan Semiconductor Manufacturing	Taiwan	19,699,245	4.9
Fortune Real Estate Investment Trust	Singapore	19,475,706	4.9
Hutchison Whampoa	Hong Kong	13,090,328	3.3
Sydney Airport	Australia	12,692,274	3.2
China Petroleum	China	12,576,188	3.1
Transurban	Australia	11,532,688	2.9
HSBC	Hong Kong	11,483,865	2.9
Fletcher Building	New Zealand	10,525,344	2.6
Hopewell	Hong Kong	10,367,598	2.6
Suncorp	Australia	10,125,728	2.5

Country Allocation

Country	% of NAV
Australia	25.0
Hong Kong	24.6
Singapore	19.3
Taiwan	14.1
Thailand	7.2
China	5.8
Korea	4.5
New Zealand	2.6
Indonesia	1.7
Philippines	1.1
Net current liabilities	(5.9)

Changes to Issued Share Capital during the quarter ended 31 May 2014

There were no changes to the issued share capital during the period from 1 March 2014 to 31 May 2014.

Following the quarter end, 975,000 Ordinary shares have been issued from Treasury. As at the date of this Statement, 219,866,574 Ordinary shares are in issue and 17,075,000 shares are held in Treasury. Each Ordinary share carries one voting right. The total number of voting rights in the Company as at the date of this Statement is 219,866,574.

Company Information as at 31 May 2014

SEDOL Code                                      B0CRWN5

Sector                                                 Equity Investment Instruments

Launch Date                                       July 2005

Financial Year End                             31 August

Enquiries:

Louise Richard

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

10 July 2014

 

END

 

 

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