Interim Management Statement

RNS Number : 6239M

Schroder AsiaPacific Fund PLC

18 August 2011

 



SCHRODER ASIAPACIFIC FUND PLC

Interim Management Statement for the Quarter ended 30 June 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 April 2011 to 30 June 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 (excluding Australasia), with the aim of achieving growth in excess of the MSCI All Countries Asia excluding Japan Index in sterling (Benchmark Index) over the longer term.

Company Statistics as at 30 June 2011

Gross assets	£394.2 million
Net asset value per ordinary share (diluted capital only)	244.60p
Share price	221.00p
Discount (diluted capital only net asset value)	9.65%
Number of holdings	74
Net effective gearing	2.3%
Yield	1.2%

Cumulative Performance to 30 June 2011 (Total Return Basis)

Performance over	3 months	6 months	1 year
Share Price	0.1%	(0.4)%	19.5%
Net Asset Value	0.3%	0.6%	22.3%
MSCI AC Asia ex Japan Index*	(0.2)%	0.2%	19.7%

Data Source: Fundamental Data.

* Represents the return of the Company's previous benchmark, the MSCI All Countries Far East (ex Japan) Index in sterling terms, chain linked to the current benchmark from 26 January 2011 following the change in the Company's benchmark on that date. 

Portfolio Information as at 30 June 2011

Ten Largest Holdings

Stock Name	Country	Market Value (£)	% of NAV
Samsung Electronics	Korea	32,710,170	8.66
Jardine Strategic	Singapore	21,852,378	5.78
Taiwan Semiconductor Manufacturing	Taiwan	13,437,973	3.56
Jardine Matheson	Hong Kong	10,509,203	2.78
Fortune Real Estate Investment Trust	Singapore	9,086,148	2.41
Axiata Group	Malaysia	8,912,840	2.36
Hon Hai Precision Industries	Taiwan	8,486,752	2.25
Chunghwa Telecom	Taiwan	7,962,021	2.11
Siliconware Precision	Taiwan	7,833,446	2.07
Sun Hung Kai properties	Hong Kong	7,827,010	2.07

Country Allocation

Country                       % of NAV

Hong Kong                  25.67

Singapore                     15.78

Taiwan                         13.45

Korea                          13.24

China                           11.25

India                               7.13

Australia                         3.23

Indonesia                        2.61

Philippines                      2.54

Thailand                         2.49

Malaysia                         2.36

Vietnam                          0.25

Material Events or Transactions

Conversion of Subscription Shares

On 7 April 2011, the Company issued 102,898 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 7 April 2011.

On 8 July 2011, the Company issued 531,931 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 8 July 2011.

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

Changes to Share Capital during the quarter ended 30 June 2011

	Issued Ordinary shares of 10p each
As at 1 April 2011	145,801,291
Shares issued during the period Shares bought back and cancelled during the period	102,898 190,000
Shares in issue as at 30 June 2011	145,714,189

Since the end of the period to 30 June 2011, the Company has bought back a total of 325,000 ordinary shares. Following these buy backs there are 145,921,120 ordinary shares and 28,479,596 subscription shares in issue.

Company Information as at 30 June 2011

SEDOL Code                                     0791887

Sector                                                 Equity Investment Instruments

Launch Date                                       November 2005

Financial Year End                             30 September

Next Dividend Payment                    February 2012

Next Ex Div Date                              January 2012

2012 AGM                                         January 2012   

18 August 2011

Enquiries:

John Spedding

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

 

END

 

 

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