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Interim Management Statement

Released 17:17 10-Jul-2014

RNS Number : 0348M
Schroder Oriental Income Fund Ltd
10 July 2014
 

SCHRODER ORIENTAL INCOME FUND LIMITED

Interim Management Statement for the quarter ended 31 May 2014

 

The Board of Schroder Oriental Income Fund Limited (the "Company") is pleased to announce its Interim Management Statement as required by the UK Listing Authority's Disclosure and Transparency Rules. This Statement is in respect of the period from 1 March 2014 to 31 May 2014.

 

Investment Objective

The Company's investment objective is to provide a total return for investors primarily through investments in equities and equity-related investments, of companies which are based in, or which derive a significant proportion of their revenues from, the Asia Pacific region and which offer attractive yields.

Material Events

 

Second and Third Interim Dividends in respect of the year ending 31 August 2014

 

The Board declared a second interim dividend of 1.50p per share in respect of the year ending 31 August 2014, which was paid on 30 April 2014 to shareholders on the register on 22 April 2014.

 

Following the quarter end, the Board has declared a third interim dividend of 1.50p per share in respect of the year ending 31 August 2014, which will be paid on 31 July 2014 to shareholders on the register on 18 July 2014.

 

There have been no other material events or transactions that have taken place in respect of the Company between 1 March 2014 and the date of publication of this Statement.

 

Company Statistics as at 31 May 2014

 

Gross Assets
£435.2million
Net Asset Value ("NAV") per Ordinary Share
183.16p
Share Price
183.25p
Premium
0.05%
Number of Portfolio Holdings
75
Gearing
6.2%
Yield
4.1%
 

Cumulative Performance to 31 May 2014

 

Performance over

months

1 year  
3 years
Share Price (Total Return)
11.7%
(7.0)%
33.1%
NAV (Total Return)
   7.6%
(4.7)%
30.9%

All Performance Data Source: Morningstar.



Portfolio Information as at 31 May 2014

 

Ten Largest Holdings

 

Stock Name  
Country
Market Value (£)
% of NAV
Taiwan Semiconductor Manufacturing
Taiwan
19,699,245
4.9
Fortune Real Estate Investment Trust
Singapore
19,475,706
4.9
Hutchison Whampoa
Hong Kong
13,090,328
3.3
Sydney Airport
Australia
12,692,274
3.2
China Petroleum
China
12,576,188
3.1
Transurban
Australia
11,532,688
2.9
HSBC
Hong Kong
11,483,865
2.9
Fletcher Building
New Zealand
10,525,344
2.6
Hopewell
Hong Kong
10,367,598
2.6
Suncorp
Australia
10,125,728
2.5

 

Country Allocation

           

Country

% of NAV

Australia

25.0

Hong Kong     

24.6

Singapore

19.3

Taiwan

14.1

Thailand

  7.2

China

  5.8

Korea

  4.5

New Zealand

  2.6

Indonesia

  1.7

Philippines

  1.1

Net current liabilities

(5.9)

      

Changes to Issued Share Capital during the quarter ended 31 May 2014

There were no changes to the issued share capital during the period from 1 March 2014 to 31 May 2014.

Following the quarter end, 975,000 Ordinary shares have been issued from Treasury. As at the date of this Statement, 219,866,574 Ordinary shares are in issue and 17,075,000 shares are held in Treasury. Each Ordinary share carries one voting right. The total number of voting rights in the Company as at the date of this Statement is 219,866,574.

                   

Company Information as at 31 May 2014

 

SEDOL Code                                      B0CRWN5

Sector                                                 Equity Investment Instruments

Launch Date                                       July 2005

Financial Year End                             31 August

 

Enquiries:

 

Louise Richard

Schroder Investment Management Limited

Company Secretary

Tel: 020 7658 3206

 

10 July 2014


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Interim Management Statement - RNS