NEW YORK, March 16, 2011 /PRNewswire/ -- The China Fund, Inc. (NYSE: CHN) today announced its financial results for the first quarter ended January 31, 2011. 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 8, 2010, the Fund announced that it had declared an estimated annual dividend and capital gain distribution to the Fund's stockholders, totaling $2.3211 per share. The capital gain portion of the distribution was comprised of long-term capital gains estimated to be $1.8996 per share. The net investment income portion of the distributions was estimated to be $0.4215 per share. On December 21, 2010, the Fund confirmed an actual annual dividend distribution of $2.2742 per share. The dividend distribution consisted of net investment income of $0.3746 per share and long-term capital gains of $1.8996 per share. The dividend distribution was paid on December 29, 2010 to the stockholders of record at the close of business on December 24, 2010. On January 31, 2011, the Fund's total net assets were $774,668,423 and its net asset value per share was $34.00 based on 22,781,762 shares outstanding. After taking into consideration the distribution of $2.2742, the Fund's total return for the quarter ended January 31, 2010 was 5.89%.
For the quarter ended January 31, 2011, the Fund reported a net investment loss of approximately $802,903 versus a net investment gain of approximately $164,072 for the quarter ended January 31, 2010. Net realized and unrealized gains, for the three months ended January 31, 2011 were $21,455,268 or $0.94 per share compared to net realized and unrealized gains of $47,366,127 or $2.08 per share for the first quarter of fiscal year 2010.
January 31, 2011
October 31, 2010
January 31, 2010
Total Net Assets
Net Asset Value
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 www.chinafundinc.com.
The Altman Group
SOURCE The China Fund, Inc.