The China Fund, Inc. Records Third Quarter Results
NEW YORK, New York, October 21, 2016 --- The China Fund, Inc. (NYSE: CHN) today announced its financial results for its third fiscal quarter ended July 31, 2016. 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, 2016, the Fund recorded net investment income of $7,010,600 or $0.45 per share versus a net investment income of $3,401,610 or $0.22 per share for the nine months ended July 31, 2015. Net realized and unrealized loss on investments and foreign currency transactions, for the nine months ended July 31, 2016 was $21,067,807 or $1.34 per share compared to net realized and unrealized gain on investments and foreign currency transactions of $4,690,258 or $0.30 per share for the nine months ended July 31, 2015.
The Fund's total net assets on July 31, 2016 were $275,285,959 and its net asset value per share was $17.51 based on 15,722,675 shares outstanding. A combined distribution of $1.4958 per share from net investment income and net realized gains was made in December 2015.
|
July 31, 2016 |
October 31, 2015 |
July 31, 2015 |
| Total Net Assets |
$275,285,959 |
$312,190,641 |
$328,739,482 |
| Net Asset Value |
$17.51 |
$19.91 |
$20.96 |
| Shares Outstanding |
15,722,675 |
15,682,029 |
15,682,029 |
The China Fund, Inc. is listed on the New York Stock Exchange under the ticker symbol "CHN". The Fund's investment manager is Allianz Global Investors U.S. LLC.
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.
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