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# Aberdeen Greater China Fund, Inc. (NYSE: GCH)
  (EDT)
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Daily Data

At close Oct 17, 2014

NAV$11.51
Market Price$10.21
Premium/(Discount)-11.29%
Unadjusted NAV**$11.47

The NAV information is provided by the Fund's accounting agent. The price is as reported by the exchange on which the Fund trades. This information is unaudited and neither Aberdeen Asset Management PLC, its wholly owned subsidiaries, the Funds, nor any other person guarantees their accuracy.

 
 

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Aberdeen Greater China Fund, Inc. (NYSE: GCH)***

Investment Objective

The Fund’s investment objective is to seek long-term capital appreciation through investment in listed equity securities of China companies that (i) are organized under the laws of, and have their principal place of business in, China and/or Hong Kong and/or Taiwan; or (ii) during their most recent fiscal year derived at least 50% of their revenues or profits from goods produced or sold, investments made or services performed in China and/or Hong Kong and/or Taiwan or have at least 50% of their assets in China and/or Hong Kong and/or Taiwan.

For more detailed information on the specific risks associated with this fund, please view the Important Risk Considerations tab.

 
Hugh Young

Asian Equities Fund Manager Interview

The Association of South East Asian Nations (ASEAN) region has been a major part of Aberdeen’s Asian equity portfolios for quite some time. Aberdeen’s Head of Asian Equities, Hugh Young, speaks to the equity performance of ASEAN countries and explains why he believes the ASEAN region presents compelling investment opportunities.

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Nicholas Yeo

Aberdeen Greater China Fund, Inc. Webcast Update

Nicholas Yeo gives an update on the Aberdeen Greater China Fund, Inc. (GCH). Nicholas speaks to recent Fund positioning, what companies he and the team hold in highest regard and what macro trends are affecting the region the most.

 
 
Nicholas Yeo

Fund Manager Interview with Nicholas Yeo

Nicholas Yeo, Aberdeen’s Director and Head of Equities – China/Hong Kong, discusses recent volatility in Chinese equity markets, the possibility of China’s economy growing at a slower pace as the focus shifts towards quality growth, and the challenge for investors is to find a way to gain access to quality companies.

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Fund Managers’ Monthly Report

August 2014

  • The MSCI Golden Dragon Index posted marginal gains in August, despite an unexpected fall in manufacturing purchasing (PMI) data, even though prior macroeconomic indicators signalled a turnaround.
  • The Fund’s holdings' six-month results were mixed. Amid the sluggish Chinese property market, there was a disconnect between high land prices and falling housing prices, about which we are cautious. Both Yanlord Land and China Vanke subsequently reported lower gross margins.
  • Swire Pacific benefited from good results from its subsidiary Swire Properties, which was boosted by residential sales. PetroChina's profits were driven by fuel pricing reforms. Management plans to reduce downstream capital expenditures and focus on higher return upstream projects, which may potentially boost its cash flow and balance sheet.
  • In August, we introduced global logistics player Kerry Logistics. We like the company for its integrated capabilities, which we believe are unique and hard to replicate. Additionally, the group continues to increase its substantial exposure to China, where it has the largest distribution network.¹
  • Upon receiving the QFII² quota, we initiated a position in China Merchants Bank’s A-shares. The joint-stock bank’s strong retail focus taps onto China’s increasingly affluent middle class. We also took the opportunity to switch into real estate development and management company China Vanke’s A-share, which is cheaper than the H-share.

¹Source; Supply Chain 24/7, June 2014

²The Qualified Foreign Institutional Investor (QFII) program permits certain licensed international investors to participate in China's mainland stock exchanges.

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Section 16 Filings
 
***** As of 12/02/2013, Fund name changed from The Greater China Fund, Inc.
 

**Disclaimer

Pursuant to valuation policies adopted by the Board of Directors of the Fund, the Fund values foreign equity securities that primarily trade in certain markets that close ahead of the Fund’s daily 4:00 pm Eastern net asset value (“NAV”) calculation time at their fair values using prices provided by third-party independent pricing services. The fair value of each such security generally is calculated by applying a valuation factor provided by the independent pricing service to the last sales price for that security, or, if, the pricing service is unable to provide a fair value for a security, at the price at the close of the exchange on which it is principally traded, subject to adjustment by the Fund’s Pricing Committee. These daily fair valuations seek to reflect information available after the local market close that may affect the value of the foreign equity securities held by the Fund. As a result, this official NAV calculation reflects adjustments that may cause it to vary from a calculation based solely on closing prices. In contrast, the “Unadjusted NAV” of the Fund (shown above) is for informational purposes only and is computed using the closing prices on the relevant exchange. It does not reflect any daily fair valuation adjustments of the Fund’s foreign securities. The Unadjusted NAV does not represent the official NAV of the Fund, nor is the Unadjusted NAV used for Fund accounting or performance purposes. Investors should not rely upon the Unadjusted NAV when making their investment decisions.