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The Greater China Fund, Inc. (NYSE: GCH)
- (EDT)
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At close Jun 18, 2013
| NAV | $13.04 |
| Price | $11.39 |
| Premium/(Discount) | -12.65% |
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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The 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.
Guanxi, mianzi, and business:
The impact of culture on corporate governance in China.
Download Brochure
Aberdeen Chinese Equities Portfolio Manager Interview
Nicholas Yeo, Aberdeen’s Director & Head of Equities – China/Hong Kong, discusses recent economic developments in China, including signs that the slowdown is reaching a bottom, and Aberdeen’s strategies to take advantage of Chinese growth.
Download interviewAberdeen Insights: Views from the Front Lines of Asia
On Dec. 6, Hugh Young, Aberdeen’s Managing Director and Head of Equities, and Anthony Michaels, Aberdeen’s Head of Fixed Income Asia-Pacific, gathered in Aberdeen’s New York office to discuss their views on opportunities in the Asia region.
Fund Managers’ Monthly Report
April 2013
- The MSCI Golden Dragon Index rose in April though it underperformed the broader region. Receding inflation eased concerns over further monetary policy tightening in China, although persistent anxieties over the fatal avian flu outbreak, the health of the manufacturing sector and a potential credit bubble pared gains.
- China's first-quarter gross domestic product (GDP) grew by a slower-than-expected 7.7%, as early momentum, driven by infrastructure spending and real estate activity, waned.
- Leading indicators in the mainland signalled that the manufacturing sector is likely to expand by less than forecast. In March, lending rebounded sharply, while a spike in imports led to an unexpected trade deficit.
- Fitch lowered its sovereign credit rating on China's local currency long-term debt, warning of risks from rapid credit expansion.
- In Fund-related news, AIA recorded significant sales growth across Asia, driven by increased market share and local demand. Yingde Gases’ full-year results met expectations. However, its share price declined sharply in April due to a related-party transaction arising from a misinterpretation of listing rules. The company said that it will review its internal control systems to ensure that no such incidents repeat in the future. Nevertheless, we feel that the fundamentals of the underlying business remain sound on the back of its stable on-site business.
- There were no changes to the Fund in April.
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