Welcome to our dedicated page for CHINA FUND news (Ticker: CHN), a resource for investors and traders seeking the latest updates and insights on CHINA FUND stock.
CHINA FUND, INC. (NYSE: CHN) is a premier closed-end equity mutual fund, expertly managed by Allianz Global Investors U.S. LLC. The Fund is dedicated to leveraging the dynamic public equity markets of China, encompassing the People's Republic of China, Hong Kong, and Taiwan. By investing in a diverse array of sectors, the Fund seeks to offer substantial long-term capital appreciation to its shareholders.
Founded on April 28, 1992, and domiciled in the United States, CHINA FUND, INC. has established itself as a prominent player in the investment community. The Fund's strategic investment approach involves a combination of fundamental analysis with a bottom-up methodology and quantitative analysis to curate its investment portfolio. The performance of this meticulously crafted portfolio is benchmarked against the MSCI Golden Dragon Index.
The Fund's investments span a broad spectrum of industries, including Insurance, Entertainment, Machinery, Electrical Equipment, Beverages, Hotels, Restaurants, and Leisure, amongst others. This diversification not only mitigates risk but also broadens the potential for substantial returns.
As of July 31, 2023, CHINA FUND, INC. reported significant financial results. The Fund's total net assets stood at $145,190,141, with a net asset value per share of $14.44. For the nine months ending July 31, 2023, it recorded a net investment income of $556,690 or $0.06 per share, a notable improvement from the net investment loss of $145,455 or $0.01 per share in the same period the prior year. Moreover, the Fund achieved a net realized and unrealized gain on investments and foreign currency transactions amounting to $35,358,192 or $3.52 per share.
In recent updates, for the three months ending January 31, 2024, the Fund faced a net investment loss of $275,921 or $0.03 per share. The period also saw a net realized and unrealized loss on investments and foreign currency transactions totaling $11,893,878 or $1.19 per share. Despite these losses, the Fund's total net assets were $106,253,367, with a net asset value per share of $10.65.
CHINA FUND, INC. remains committed to its objective of achieving long-term capital appreciation by primarily investing in equity securities of companies with significant operations in China. Although the Fund is permitted to engage in direct equity investments in companies organized within China, it currently holds no such direct investments. The Fund's shares are actively traded on the New York Stock Exchange under the ticker symbol "CHN" and are managed by Matthews International Capital Management, LLC.
For more detailed information and regular updates on the Fund's holdings, financial performance, and other relevant data, investors are encouraged to visit the Fund's official website or contact their investor relations through (888)-CHN-CALL.
The China Fund (NYSE: CHN) has appointed Stifel, Nicolaus & Company as the new agent for its Discount Management Program, effective January 1, 2025. The program allows the Fund to repurchase up to 10% of its common shares annually when trading above specified discount thresholds. Additionally, Matthews International Capital Management will continue to waive a portion of its management fee, reducing it from 0.80% to 0.75% when monthly average assets are below $150 million. This fee reduction will continue until either February 1, 2026, or until the Fund's performance exceeds its benchmark, the MSCI China All Shares Index.
The China Fund (NYSE: CHN) has announced its annual stockholder meeting, scheduled for March 13, 2025, at 11:00 a.m. ET via virtual forum. Stockholders of record as of January 15, 2025, will be eligible to participate, with meeting notices to be mailed around February 10, 2025.
The Fund is a closed-end management investment company focusing on long-term capital appreciation through investments in companies with significant Chinese market exposure. It targets businesses that either trade primarily in China or derive at least 50% of revenues or assets from China. Currently listed on the NYSE under 'CHN', the Fund is managed by Matthews International Capital Management,
The China Fund (NYSE: CHN) has announced a distribution of $0.1497 per share, consisting entirely of ordinary income. The dividend will be paid on January 10, 2025, to stockholders of record on December 30, 2024. The Fund operates a Dividend Reinvestment and Cash Purchase Plan where shareholders automatically participate unless opting out. Under this plan, if shares trade at a premium to NAV, stockholders receive shares at NAV; if trading at a discount, shares are valued at market price. The Fund focuses on long-term capital appreciation by investing in companies with significant Chinese market exposure, requiring at least 50% of revenues or assets to be China-related.
The China Fund, Inc. (NYSE: CHN) reported its financial results for the third fiscal quarter ended July 31, 2024. Key highlights include:
- Net investment income of $1,408,498 ($0.14 per share) for the nine months ended July 31, 2024, compared to $556,690 ($0.06 per share) for the same period in 2023.
- Net realized and unrealized loss on investments and foreign currency transactions of $4,133,400 ($0.42 per share) for the nine-month period, versus a gain of $35,358,192 ($3.52 per share) in the previous year.
- Total net assets of $114,646,675 as of July 31, 2024, with a net asset value per share of $11.61 based on 9,871,307 shares outstanding.
- A distribution of $0.0185 per share from net investment income was paid in January 2024.
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