Interim Management Statement
SCHRODER ASIAPACIFIC FUND PLC
Interim Management Statement for the Quarter ended 31 December 2012
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 2012 to 31 December 2012.
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.
Annual General Meeting
The Annual General Meeting of the Company was held on 29 January 2013. All resolutions set out in the Notice of Meeting were duly passed.
Final Dividend for the Year Ended 30 September 2012
A final dividend of 3.35p per share for the year ended 30 September 2012 was paid on 30 January 2013 to shareholders on the register on 4 January 2013.
|
Net assets, assuming exercise of all dilutive Subscription shares
|
£470.40 million
|
|
Fully diluted Net Asset Value per Ordinary share
|
277.19p
|
|
Ordinary Share Price
|
248.75p
|
|
Discount
|
10.26%
|
|
Number of Portfolio Holdings
|
70
|
|
Net cash, assuming exercise of all dilutive Subscription shares
|
9.9%
|
Cumulative Performance to 31 December 2012*
|
Performance over
|
3 months
|
6 months
|
1 year
|
|
Share price (total return)
|
5.07%
|
11.67%
|
21.44%
|
|
Net Asset Value (total return)
|
3.96%
|
13.28%
|
23.58%
|
|
MSCI AC Asia (ex Japan) Index
|
5.00%
|
11.59%
|
17.32%
|
*Source: Morningstar.
|
Stock Name
|
Country
|
Market Value (£)
|
Percentage of NAV
|
|
Samsung Electronics
|
Korea
|
35,486,664
|
7.54
|
|
Jardine Strategic
|
Singapore
|
22,894,315
|
4.87
|
|
Taiwan Semiconductor
|
Taiwan
|
22,831,146
|
4.85
|
|
Fortune Real Estate Investment Trust
|
Singapore
|
14,591,910
|
3.10
|
|
Swire Pacific
|
Hong Kong
|
12,976,185
|
2.76
|
|
CNOOC
|
Hong Kong
|
12,890,724
|
2.74
|
|
Techtronic Industries
|
Hong Kong
|
10,268,976
|
2.18
|
|
LG Chemical
|
Korea
|
10,067,539
|
2.14
|
|
Hyundai Motor
|
Korea
|
9,094,599
|
1.93
|
|
Sun Hung Kai Properties
|
Hong Kong
|
8,980,486
|
1.91
|
Country Allocation
|
Country
|
Percentage of NAV
|
|
Hong Kong
|
22.10
|
|
Korea
|
14.93
|
|
Singapore
|
14.72
|
|
Taiwan
|
9.47
|
|
India
|
7.72
|
|
Thailand
|
5.94
|
|
Australia
|
3.84
|
|
United States
|
3.48
|
|
China
|
3.01
|
|
Indonesia
|
2.36
|
|
Philippines
|
1.74
|
|
Sweden
|
0.47
|
|
Sri Lanka
|
0.47
|
|
Net current assets
|
9.75
|
Changes to Share Capital during the quarter ended 31 December 2012
|
|
Issued Ordinary shares of 10p each
|
|
As at 30 September 2012
|
145,956,071
|
|
Shares issued in the quarter following exercise |
1,118
(4,700,000)
|
|
Shares in issue as at 31 December 2012
|
141,257,189
|
As at 31 December 2012, there were 28,443,527 Subscription shares of 1p each in issue.
Following the year end, the final Subscription shares were exercised, as outlined below. The Company does not hold any shares in treasury and therefore the total number of voting rights in the Company as at the date of this Statement is 169,700,716.
Material Events or Transactions
On the final exercise date of 31 December 2012, holders of 3,776,236 Subscription shares exercised their rights to subscribe for ordinary shares at 245 pence per Ordinary share.
In addition, on 9 January 2013, the trustee, appointed pursuant to paragraph 8(g) of Part 4 of the Particulars and Procedures in respect of the Subscription shares (as set out in the Prospectus dated 18 September 2009 relating to the Subscription shares), exercised all of the 24,667,291 outstanding Subscription shares on the same terms and sold them in the market.
No other material events or transactions have taken place between 1 October 2012 and the date of publication of this Statement.
Company Information as at 31 December 2012
Sedol Code 0791887
Sector Equity Investment Instruments
Launch Date November 2005
Financial Year End 30 September
1 February 2013
Enquiries:
John Spedding
Schroder Investment Management Limited
Company Secretary
Tel: 020 7658 3206
This information is provided by RNS
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