NEW YORK, Sept. 15 /PRNewswire-FirstCall/ -- The China Fund, Inc. (NYSE: CHN) today announced its financial results for the third quarter ended July 31, 2008. The Fund is a closed-end management investment company seeking long-term capital appreciation primarily through investments in equity securities of China companies.
For the nine months ended July 31, 2008, the Fund reported a net investment income of approximately $5,625,225 or $0.31 per share versus net investment income of approximately $2,519,335 or $0.17 per share for the nine months ended July 31, 2007. The net realized and unrealized loss for the nine months ended July 31, 2008 were $223,541,785 or $12.31 per share, compared to the net realized and unrealized gain of $330,031,938 or $22.64 per share for the nine months ended July 31, 2007.
The Fund's total net assets on July 31, 2008 were $618,937,146 and its net asset value per share was $34.09 based on 18,153,741 shares outstanding. This represents a 23.89% decrease in the Fund's net asset value of $60.50 on October 31, 2007 after taking into consideration the net investment income dividend and capital gain distribution totaling $12.12 per share paid on January 25, 2008. The Fund's total net assets on October 31, 2007 were $881,855,747.
July 31, 2008 October 31, 2007 July 31, 2007
Total Net Assets $618,937,146 $881,855,747 $740,202,593
Net Asset Value Per Share $34.09 $60.50 $50.78
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.
CONTACT:
Warren Antler
The Altman Group
212-400-2605
wantler@altmangroup.com
SOURCE China Fund, Inc.
International News / Press Release source: PR Newswire
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