Business & Finance
Mon, September 17, 2012Sun, September 16, 2012Sat, September 15, 2012Fri, September 14, 2012Thu, September 13, 2012Wed, September 12, 2012Tue, September 11, 2012Mon, September 10, 2012Sun, September 9, 2012Sat, September 8, 2012Fri, September 7, 2012The China Fund, Inc. Reports Third Quarter Results
Published in Business and Finance on Wednesday, September 12th 2012 at 10:16 GMT by Market Wire
The China Fund, Inc. Reports Third Quarter Results -- NEW YORK, Sept. 12, 2012 /PRNewswire/ --
The China Fund, Inc. Reports Third Quarter Results
NEW YORK, Sept. 12, 2012 /PRNewswire/ -- The China Fund, Inc. (NYSE: [ CHN ]) today announced its financial results for the third quarter ended July 31, 2012. The Fund is a closed-end management investment company with the investment objective of long-term capital appreciation which it seeks to achieve by investing primarily in equity securities (i) of companies for which the principal securities trading market is the People's Republic of China ("China"), (ii) of companies for which the principal securities trading market is outside of China, or constituting direct equity investments in companies organized outside of China, that in both cases derive at least 50% of their revenues from goods and services sold or produced, or have at least 50% of their assets, in China and (iii) constituting direct equity investments in companies organized in China.
For the nine months ended July 31, 2012, the Fund reported a net investment income of approximately $3,888,072 versus a net investment income of approximately $2,266,519 for the nine months ended July 31, 2011. Net realized and unrealized losses for the nine months ended July 31, 2012 were -$56,369,498 or -$3.34 per share compared to net realized and unrealized gains of $26,463,231 or $1.16 per share for the nine months ended July 31, 2011.
The Fund's total net assets on July 31, 2012 were $403,266,268 and its net asset value per share was $23.92, based on 16,861,895 shares outstanding. After taking into consideration the distribution of $2.9964 per share paid on December 29, 2011, the Fund's total return for the nine months ended July 31, 2012 was -5.23%.
July 31, 2012 | October 31, 2011 | July 31, 2011 | ||
Total Net Assets | $403,266,268 | $660,443,914 | $770,189,479 | |
Net Asset Value | $23.92 | $28.99 | $33.81 | |
Shares Outstanding | 16,861,895 | 22,781,762 | 22,781,762 |
The China Fund, Inc. is listed on the New York Stock Exchange under the ticker symbol "CHN". The Fund's investment manager is RCM Asia Pacific Ltd.
For further information regarding the Fund and the Fund's holdings, please call (888)-CHN-CALL or visit the Fund's website at [ www.chinafundinc.com ].
CONTACT:
Warren Antler
The Altman Group
212-400-2605
[ wantler@altmangroup.com ]
SOURCE The China Fund, Inc.
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[ http://www.chinafundinc.com ]
