The Greater China Fund, Inc. Announces Increased Focus on Taiwan and Change to Its Primary Benchmark
2011年8月24日 - 9:30PM
Marketwired
The Greater China Fund, Inc. (NYSE: GCH) ("GCH" or "the Fund"), a
closed-end fund, has announced that, due to the increasing economic
integration of Taiwan and mainland China, it is expanding its
definition of "China companies" to include companies that (i) are
organized under the laws of, and have their principal place of
business in, 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 Taiwan
or have at least 50% of their assets in Taiwan. The change will
take effect on October 23, 2011. Under normal circumstances, at
least 80% of the Fund's net assets will be invested in listed
equity securities of China companies. Consistent with this change,
the Fund will change its primary benchmark to the MSCI Golden
Dragon Index effective immediately. The MSCI Golden Dragon Index is
a free float-adjusted market capitalization index that is designed
to measure equity market performance in the China region,
consisting of China, Hong Kong and Taiwan. The MSCI Golden Dragon
Index reflects more appropriately the Fund's intended increased
investment in Taiwan and the Fund will use this standard to
evaluate its investment performance going forward. The Fund
previously used the MSCI Zhong Hua Index as its primary benchmark.
Organized in 1992, the Fund's investment objective is to achieve
long-term capital appreciation. It seeks to achieve its objective
by in listed equity securities of China companies. The Fund's
expanded strategy reflects the belief that Taiwan-related companies
conducting business in China offer a uniquely attractive and
risk-moderated way to invest in China's economic growth.
This press release may contain certain forward-looking
statements regarding future circumstances. These forward-looking
statements are based upon the Fund's current expectations and
assumptions and are subject to various risks and uncertainties that
could cause actual results to differ materially from those
contemplated in such forward-looking statements including, in
particular, the risks and uncertainties described in the Fund's
filings with the U.S. Securities and Exchange Commission. Actual
results, events, and performance may differ. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The Fund undertakes no
obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Fund or any other
person that the events or circumstances described in such statement
are material.
The Greater China Fund 1-(877)-FUND-GCH Email Contact
www.greaterchinafund.com
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