The China Fund Inc. to get a New Investment Manager from January 1, 2019

IndraStra Global

The China Fund Inc. to get a New Investment Manager from January 1, 2019

By IndraStra Global News Team

The China Fund Inc. to get a New Investment Manager from January 1, 2019

On December 7, 2018, New York Stock Exchange (NYSE) listed "The China Fund, Inc.", announced Matthews International Capital Management, LLC (Matthews Asia) approved as the Fund's new Investment Manager by over 95% of the shares voted at the Special Meeting.  It is expected that Matthews Asia will commence managing the Fund's portfolio on or about January 1, 2019. Till now the US$ 298.5 million fund is managed by Allianz Global Investors U.S. LLC.

The China Fund is a diversified closed-end investment company launched in April 1992. Its objective is to achieve long-term capital appreciation through investment in companies and other entities with significant assets, investments, production activities, trading or other business interests in China, or which derive a significant part of their revenue from China.

Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol "CHN."

Current Portfolio - Country Allocation

(Source: State Street Bank and Trust Company. Figures to Oct 31, 2018).


China - 78.07% OF NET ASSETS
  • Hong Kong Red Chips - 16.63%
  • Hong Kong 'H' shares - 23.83%
  • China 'A' & 'B' shares - 1.61%
  • Other Hong Kong securities - 36.00%

Taiwan - 13.80% OF NET ASSETS

Other assets & liabilities - 8.13% OF NET ASSETS

Top 10 Holdings (46.07%) 

(Source: State Street Bank and Trust Company. Figures to Oct 31, 2018).

  • Taiwan Semiconductor Manufacturing (Information Technology) - 8.96%
  • China Construction Bank H(Financials) - 5.83%
  • Tencent Holdings Ltd. (Communication Services) - 5.19%
  • Alibaba Group Holding SP ADR (Consumer Discretionary) - 5.17%
  • PetroChina Co. Ltd H (Energy) - 4.18%
  • AIA Group Ltd. (Financials) - 4.09%
  • Ping An Insurance Group Co. H (Financials) - 3.90%
  • China Everbright Int'l Ltd. (Industrials) - 3.16%
  • Hong Kong Exchanges + Clear (Financials) - 3.08%
  • Sun Hung Kai Properties (Real Estate) - 2.51%