Interim Management Statement

RNS Number : 2139Y
Schroder Oriental Income Fund Ltd
17 December 2010
 



SCHRODER ORIENTAL INCOME FUND LIMITED

Interim Management Statement for the Quarter ended 30 November 2010

 

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.

Company Statistics as at 30 November 2010

 

Gross Assets

£272.86 million

Net Asset Value (NAV) per Ordinary Share Cum Income

152.48p

Share Price

155.00p

Premium

1.65%

Number of Holdings

84

Net Effective Gearing

5.22%

Cash

3.06%

Yield

3.70%

 

Cumulative Performance to 30 November 2010

 

Performance over

3 months

1 year 

3 years

Share Price (Total Return)

  13.8%

39.5%

44.9%

Net Asset Value (Total Return)

  10.9%

30.6%

29.2%

All Performance Data Source: Fundamental Data.

Portfolio Information as at 30 November 2010

 

Ten Largest Holdings

 

Stock Name   

Country

Market Value(£)

% of

NAV

Fortune Real Estate Investment Trust

Singapore

14,588,701

5.46

Hang Seng Bank          

Hong Kong     

10,727,067

4.01

Taiwan Semiconductor Manufacturing

Taiwan

9,757,604

3.65

Ascendas Real Estate Investment Trust

Singapore

8,503,570

3.18

Glow Energy

Thailand

7,695,021

2.88

QBE Insurance Group

Australia

7,469,924

2.79

Semirara Mining

Philippines

7,435,185

2.78

Australia & New Zealand Banking Group

Australia

6,893,154

2.58

Suncorp Metway

Australia

6,560,207

2.45

Swire Pacific A

Hong Kong

6,348,583

2.38

 

Country Allocation    

           

Country                       % of NAV

Australia                       23.43

China                           6.20

Hong Kong                  18.37

Indonesia                      2.04

India                             1.12

Korea                          4.25

New Zealand                3.07

Philippines                    3.71

Singapore                     18.95

Taiwan                         13.16

Thailand                       5.70

 

Material Events or Transactions

 

During the quarter the Company issued 4,820,000 ordinary shares.

 

The Company announced on 24 November 2010 that the Directors of the Company had declared the payment of a second interim dividend of 3.20 pence per share for the year ended 31 August 2010 on the Ordinary Shares of the Company.

 

The total dividends for the year ended 31 August 2010 will be 5.80 pence per share, representing an increase of 5.5% on the total dividends of 5.50 pence per share paid last year.

 

Ex-Dividend Date:

1 December 2010

Record Date:

3 December 2010

Payment Date:

16 December 2010

Dividend per Share:

3.20p

 

There have been no other material events or transactions that have taken place between 1 September 2010 and the date of publication of this Statement.

 

Annual General Meeting

 

The Annual General Meeting of the Company was held on 17 December 2010. All resolutions set out in the Notice of Meeting were duly passed at such meeting.

 

Changes to Share Capital during the quarter ended 30 November 2010

 

 

Issued Ordinary shares of 1p each

As at 31 August 2010

160,434,500

Shares issued during the period

Shares bought back during the period

4,820,000

-

Shares in issue as at 30 November 2010

165,254,500

 

 

 

 

Company Information as at 30 November 2010

 

SEDOL Code                                    B0CRWN5

Sector                                                Equity Investment Instruments

Launch Date                                       July 2005

Financial Year End                              31 August

Next Dividend Payment                      April 2011

Annual General Meeting                     December       

 

 

 

Enquiries:

 

John Spedding

Schroder Investment Management Limited

Company Secretary

 

Tel: 020 7658 3206

17 December 2010

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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