The China Fund, Inc. today announced its financial results for its first fiscal quarter ended January 31, 2020. The Fund is a closed-end management investment company with the objective of seeking long-term capital appreciation by investing primarily in equity securities (i) of companies for which the principal securities trading market is the People’s Republic of China (“China”), or (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. Whilst the Fund is permitted to invest in direct equity investments of companies organized in China, it presently holds no such investments.
For the quarter ended January 31, 2020, the Fund recorded net investment loss of $644,789, or $0.06 per share, versus net investment loss of $821,390 or $0.05 per share, for the quarter ended January 31, 2019. Net realized and unrealized gains on investments and foreign currency transactions for the quarter ended January 31, 2020 was $6,774,596, or $0.64 per share, compared to net realized and unrealized gain on investments and foreign currency transactions of $35,731,602, or $2.27 per share, for the quarter ended January 31, 2019.
The Fund’s total net assets on January 31, 2020 were $231,838,694 and its net asset value per share was $22.01 based on 10,533,371 shares outstanding. A combined distribution of $1.3843 per share from net investment income and realized gains was made in December 2019.
|January 31, 2020||October 31, 2019||January 31, 2019|
|Total Net Assets||$231,838,694||$242,936,717||$324,882,609|
|Net Asset Value||$22.01||$22.80||$20.66|
The China Fund, Inc. is listed on the New York Stock Exchange under the ticker symbol “CHN”. The Fund’s investment manager is Matthews International Capital Management, LLC.
For further information regarding the Fund and the Fund’s holdings, visit the Fund’s website at www.chinafundinc.com.