China Fund

About the fund

The investment objective of the Fund is to achieve long term capital appreciation through investment in companies and other entities with significant assets, investments, production activities, trading or other business interests in China, or which derive a significant part of their revenue from China.



The Board of Directors of the Fund has adopted an operating policy of the Fund, effective June 30th, 2001, that the Fund will invest at least 80% of its assets in China companies. For this purpose, 'China companies' are:


Companies for which the principal securities trading market is in China;
Companies for which the principal securities trading market is outside of China or in companies organized outside of China, that in both cases derive at least 50% of their revenues from goods or services sold or produced, or have at least 50% or their assets in China;
Companies organized in China.


Under the new policy, China means the People's Republic of China, including Hong Kong, and Taiwan. The Fund will provide its stockholders with at least 60 days' prior notice of any change to the policy described above. The fundamental policy, which applies to not less than 65% of the Fund's assets as set out in the Fund's prospectus dated July 10, 1992, remains in place. The fundamental policy is the same as the operating policy set out above, except that China only includes the People's Republic of China (including Hong Kong).