The China Fund, Inc. News
The China Fund, Inc. Reports First Quarter Results
NEW YORK, March 12 PRNewswire-FirstCall — The China Fund, Inc. (NYSE: CHN) today announced its financial results for the first quarter ended January 31, 2008. The Fund is a closed-end management investment company seeking long-term capital appreciation primarily through investments in equity securities of companies engaged in a substantial amount of business in the People's Republic of China, including Hong Kong.
On December 6, 2007, the Fund announced that it had declared an annual dividend and capital gain distribution to the Fund's stockholders, totaling $12.12 per share. The total dividend and capital gain distribution per share consisted of $0.28 net investment income, $2.84 realized short term capital gains and realized long term capital gains of $9.00. The dividend and capital gain distribution was paid on January 25, 2008, to the stockholders of record at the close of business on December 21, 2007. On January 31, 2008, the Fund's total net assets were $690,320,515 and its net asset value per share was $38.03 based on 18,153,741 shares outstanding. This represents a 15.10% decrease in the Fund's net asset value of $60.50 on October 31, 2007 after taking into consideration the December distribution. The Fund's total net assets on October 31, 2007 were $881,855,747.
For the quarter ended January 31, 2008, the Fund reported a net investment gain of approximately $128,665 versus a net investment loss of approximately $532,296 for the quarter ended January 31, 2007. Net realized and unrealized losses, for the three months ended January 31, 2008 were $146,661,856 or $8.08 per share compared to net realized and unrealized gains of $97,065,586 or $6.66 per share for the first quarter of fiscal year 2007.
January 31, 2008 October 31, 2007 January 31, 2007 Total Net Assets $690,320,515 $881,855,747 $504,184,710 Net Asset Value $38.03 $60.50 $34.59 Shares Outstanding 18,153,741 14,575,961 14,575,961
The China Fund, Inc. is listed on the New York Stock Exchange under the ticker symbol "CHN". The Fund's investment manager is Martin Currie Inc.
For further information regarding the Fund and the Fund's holdings, please call (888)-CHN-CALL or visit the Fund's website at http://www.chinafundinc.com.
Warren Antler The Altman Group 212-400-2605 wantler@altmangroup.com
SOURCE The China Fund, Inc.
Search Our News Using Google Search
Can't find what you want? Try using Google:
