Interim Management Statement

RNS Number : 1371B

Schroder AsiaPacific Fund PLC

27 February 2014

 



SCHRODER ASIAPACIFIC FUND PLC

Interim Management Statement for the Quarter ended 31 December 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 October 2013 to 31 December 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.

Material Events or Transactions

Annual General Meeting

The Annual General Meeting of the Company was held on 30 January 2014. All resolutions set out in the Notice of Meeting were duly passed.

Final Dividend for the Year Ended 30 September 2013

Following shareholder approval at the Annual General Meeting, a final dividend of 3.35p net per share for the year ended 30 September 2013 was paid on 4 February 2014 to shareholders on the register on 3 January 2014.

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

Company Statistics as at 31 December 2013

Net Assets	£445.7 million
Net Asset Value per Ordinary Share	262.63p
Ordinary Share Price	234.50p
Discount	10.71%
Number of Portfolio Holdings	76
Net Cash	0.9%

Cumulative Performance to 31 December 2013*

Performance over	3 months	6 months	1 year
Share price (total return)	(1.18)%	(4.29)%	(3.11)%
Net Asset Value (total return)	(0.80)%	(4.69)%	(2.89)%
MSCI AC Asia (ex Japan) Index	1.12%	0.25%	1.42%

*Source: Morningstar.

Portfolio Information as at 31 December 2013

Ten Largest Holdings

Stock Name	Country	Market Value (£)	Percentage of   NAV
Samsung Electronics	Korea	32,641,897	7.3
Taiwan Semiconductor	Taiwan	25,337,755	5.7
Jardine Strategic	Singapore	20,248,151	4.5
Hyundai Motor	Korea	17,790,562	4.0
Baidu	China	15,082,861	3.4
Fortune Real Estate Investment Trust	Singapore	13,797,830	3.1
HSBC	Hong Kong	12,145,977	2.7
LG Household & Healthcare	Korea	10,213,584	2.3
China Petroleum & Chemical	China	9,768,455	2.2
Techtronic Industries	Hong Kong	9,668,324	2.2

Country Allocation

Country	Percentage of NAV
Hong Kong	26.8
Korea	16.9
Singapore	13.0
Taiwan	11.8
India	9.6
China	8.3
Thailand	5.8
Philippines	2.3
United states	2.2
Australia	1.5
Indonesia	1.5
Sri Lanka	0.9
Net current liabilities	(0.6)

Changes to Share Capital during the quarter ended 31 December 2013

There were no changes to the Company's issued share capital during the quarter, which stood at 169,700,716 Ordinary shares as at 31 December 2013.

Following the quarter end, 160,000 Ordinary shares were bought back and cancelled. As at the date of this Statement, a total of 169,540,716 Ordinary shares of 10p each are in issue, each carrying one voting right. No shares are held in Treasury.

Company Information as at 31 December 2013

SEDOL Code                                      0791887

Sector                                                 Equity Investment Instruments

Launch Date                                       1995

Financial Year End                              30 September

Enquiries:

John Spedding

Schroder Investment Management Limited

Company Secretary

Tel: [phone]    

27 February 2014

 

END

 

 

IMSPGUMPPUPCGAM