Interim Management Statement

RNS Number : 9891W

Schroder AsiaPacific Fund PLC

01 February 2013

 



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.

Company Statistics as at 31 December 2012

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.

Portfolio Information as at 31 December 2012

Ten Largest Holdings

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       of Subscription shares Shares repurchased for cancellation	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: [phone]

 

END

 

 

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