UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
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Investment Company Act file number:
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811-06674
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Exact name of registrant as specified in charter:
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The Greater China Fund, Inc.
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Address of principal executive offices:
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Gateway Center 3,
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100 Mulberry Street,
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Newark, New Jersey 07102
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Name and address of agent for service:
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Deborah A. Docs
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Gateway Center 3,
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100 Mulberry Street,
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Newark, New Jersey 07102
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Registrants telephone number, including area code:
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973-367-7521
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Date of fiscal year end:
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12/31/2012
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Date of reporting period:
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9/30/2012
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Item 1.
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Schedule of Investments
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The Greater China Fund, Inc.
Schedule of Investments
as of September 30, 2012 (Unaudited)
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Shares
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Description
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Value
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EQUITIES 98.9%
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CHINA 45.1%
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Consumer Discretionary 1.3%
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1,302,000
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Belle International Holdings Ltd.(1)
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$ 2,357,731
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3,800,000
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Geely Automobilie Holdings Ltd.(1)
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1,440,944
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3,798,675
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Consumer Staples 0.5%
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522,000
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Tingyi (Cayman Islands) Holding Corp.(1)
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1,572,076
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Energy 7.1%
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767,000
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China Shenhua Energy Co. Ltd. H
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2,977,680
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4,356,000
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CNOOC Ltd.
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8,933,080
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1,794,000
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Kunlun Energy Co. Ltd.(1)
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3,142,233
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4,920,000
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PetroChina Co. Ltd. H(1)
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6,447,258
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21,500,251
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Financials 19.3%
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2,166,000
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Agile Property Holdings Ltd.(1)
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2,441,665
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11,600,000
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Agricultural Bank of China Ltd. H(1)
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4,518,363
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7,649,000
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Bank of China Ltd. H(1)
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2,910,334
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13,937,780
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China Construction Bank Corp. H(1)
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9,671,461
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3,044,000
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China Life Insurance Co. Ltd. H(1)
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8,794,454
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1,433,000
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China Merchants Bank Co. Ltd. H(1)
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2,413,824
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1,712,441
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China Overseas Land & Investment Ltd.(1)
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4,355,507
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460,600
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China Pacific Insurance Group Co. Ltd. H
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1,393,102
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1,630,000
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China Resources Land Ltd.(1)
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3,590,804
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1,784,800
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Haitong Securities Co. Ltd. H(2)
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2,223,734
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21,732,835
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Industrial & Commercial Bank of China Ltd. H(1)
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12,838,021
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436,500
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Ping An Insurance (Group) Co. of China Ltd. H(1)
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3,299,120
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58,450,389
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Industrials 3.0%
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2,238,000
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China Railway Construction Corp. Ltd. H(1)
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2,003,253
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1,710,000
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China State Construction International Holdings Ltd.(1)
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2,011,440
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1,505,000
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Zhuzhou CSR Times Electric Co. Ltd. H(1)
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3,874,478
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1,188,800
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Zoomlion Heavy Industry Science and Technology Co. Ltd. H(1)
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1,350,831
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9,240,002
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Information Technology 6.6%
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26,200
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Baidu, Inc. (ADR)(2)
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3,060,684
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3,850,000
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Lenovo Group Ltd.(1)
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3,187,953
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84,800
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Netease.com, Inc. (ADR)(2)
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4,760,672
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28,600
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SINA Corp.(2)
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1,849,848
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208,000
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Tencent Holdings Ltd.(1)
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7,087,815
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19,946,972
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Materials 1.9%
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2,338,000
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China Resources Cement Holdings Ltd.(1)
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1,359,995
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1,149,000
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Jiangxi Cooper Co. Ltd. H(1)
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2,910,568
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772,500
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Zhaojin Mining Industry Co. Ltd. H(1)
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1,402,870
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5,673,433
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Telecommunication Services 5.4%
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1,074,000
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China Mobile Ltd.(1)
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11,906,014
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2,814,000
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China Unicom (Hong Kong) Ltd.(1)
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4,616,655
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16,522,669
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Total China
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136,704,467
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HONG KONG 28.6%
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Consumer Discretionary 4.1%
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499,000
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Galaxy Entertainment Group Ltd.(1)(2)
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$ 1,673,363
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828,000
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Li & Fung Ltd.(1)
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1,283,663
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933,200
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Sands China Ltd.(1)
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3,484,492
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2,591,000
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Springland International Holdings Ltd.
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1,283,261
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2,072,000
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Techtronic Industries Co. Ltd.
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3,778,813
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294,500
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Yue Yuen Industrial (Holdings) Ltd.
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991,384
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12,494,976
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Financials 16.4%
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2,375,000
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AIA Group Ltd.
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8,852,739
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460,200
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Bank of East Asia Ltd.(1)
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1,727,252
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2,056,000
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BOC Hong Kong (Holdings) Ltd.
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6,536,665
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475,000
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Cheung Kong (Holdings) Ltd.
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6,965,789
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613,000
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Henderson Land Development Co. Ltd.
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4,411,750
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209,000
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Hong Kong Exchanges & Clearing Ltd.(1)
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3,159,294
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559,500
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Kerry Properties Ltd.(1)
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2,828,801
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322,000
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Sun Hung Kai Properties Ltd.(1)
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4,717,918
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201,500
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Swire Pacific Ltd.
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2,468,965
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501,400
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Swire Properties Ltd.
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1,552,072
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916,600
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Wharf Holdings Ltd. (The)(1)
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6,366,222
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49,587,467
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Industrials 3.2%
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896,000
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Cathay Pacific Airways Ltd.(1)
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1,458,423
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859,000
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Hutchison Whampoa Ltd.(1)
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8,331,577
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9,790,000
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Utilities 4.9%
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899,000
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Cheung Kong Infrastructure Holdings Ltd.
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5,443,917
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332,000
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CLP Holdings Ltd.(1)
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2,821,888
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908,600
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Hong Kong & China Gas Co. Ltd.
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2,303,947
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494,500
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Power Assets Holdings Ltd.(1)
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4,199,894
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14,769,646
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Total Hong Kong
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86,642,089
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TAIWAN 23.7%
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Consumer Staples 1.9%
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488,000
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President Chain Store Corp.
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2,613,676
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1,831,840
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Uni-President Enterprises Corp.
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3,249,550
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5,863,226
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Financials 2.9%
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8,957,271
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Chinatrust Financial Holding Co. Ltd.
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5,408,556
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4,225,404
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Mega Financial Holding Co. Ltd.
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3,257,684
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8,666,240
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Information Technology 15.6%
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384,000
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ASUSTeK Computer Inc.
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4,172,275
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1,515,000
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Coretronic Corp.
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1,447,115
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868,000
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Delta Electronics Inc.
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3,360,840
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379,050
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Foxconn Technology Co. Ltd.
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1,474,123
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2,939,640
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Hon Hai Precision Industry Co. Ltd.
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9,226,018
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135,000
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LARGAN Precision Co. Ltd.
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2,795,470
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405,602
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MediaTek Inc.
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4,282,457
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90,000
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MStar Semiconductor Inc.
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723,046
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1,277,000
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Siliconware Precision Industries Co. Ltd.
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1,422,350
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5,656,000
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Taiwan Semiconductor Manufacturing Co. Ltd.
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17,326,788
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2,839,000
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United Microelectronics Corp.
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1,181,565
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47,412,047
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Materials 1.9%
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1,010,000
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Formosa Chemicals & Fibre Corp.
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2,715,063
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1,018,000
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Formosa Plastics Corp.
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2,910,209
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5,625,272
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Telecommunication Services 1.4%
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1,743,000
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Far EasTone Telecommunications Co. Ltd.
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4,310,898
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Total Taiwan
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71,877,683
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Units
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WARRANTS(4) 1.5%
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CHINA 1.5%
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Health Care 1.5%
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1,123,544
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Hualan Biological Engineering Inc. A, expires 09/14/16 (XLUX)
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4,641,023
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TOTAL EQUITIES
(cost $280,768,145)
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299,865,262
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Shares
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SHORT-TERM INVESTMENT 0.4%
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Money Market Fund(3) 0.4%
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1,171,375
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JPMorgan Prime Money Market Fund, 0.01%
(cost $1,171,375)
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1,171,375
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INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LOANED 23.1%
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Money Market Fund(3) 23.1%
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69,950,048
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State Street Navigator Securities Lending Prime, 0.27%
(cost $69,950,048)
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69,950,048
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TOTAL INVESTMENTS
(cost $351,889,568) 122.4%
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370,986,685
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LIABILITIES IN EXCESS OF CASH AND OTHER ASSETS (22.4%)
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(67,952,394)
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NET ASSETS 100.0%
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$303,034,291
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The
following abbreviations are used in the portfolio descriptions:
ADRAmerican Depositary Receipt
XLUXLuxembourg Stock Exchange
(1)
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All or a portion of the security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $66,408,553; cash collateral
of $69,950,048 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments.
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(2)
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Non-income producing security.
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(3)
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Rates shown reflect yield at September 30, 2012.
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(4)
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The amount represents fair value of derivatives instruments subject to equity contract risk exposure as of September 30, 2012.
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Aggregate cost for federal income tax purposes was $357,634,661 and net unrealized appreciation consisted of:
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Gross unrealized appreciation
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$
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24,023,727
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Gross unrealized depreciation
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(10,671,703
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Net unrealized appreciation
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$
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13,352,024
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The difference between book and tax basis was attributable to deferred losses on wash sales and passive foreign
investment companies as of the most recent fiscal year end.
Various inputs are used in determining the value of the Fund's investments. These
inputs are summarized in the three broad levels listed below.
Level 1 - quoted prices generally in active markets for
identical securities.
Level 2 - other significant observable inputs including, but not limited to, quoted prices for similar
securities, interest rates and yield curves, prepayment speeds, foreign currency exchange rates, and amortized cost.
Level 3 -
significant unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.
The following is a summary
of the inputs used as of September 30, 2012 in valuing such portfolio securities:
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Level 1
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Level 2
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Level 3
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Investments in Securities
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Equities
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China
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$
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136,704,467
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$
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$
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Hong Kong
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86,642,089
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Taiwan
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71,877,683
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Warrants
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China
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4,641,023
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Money Market Funds
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71,121,423
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Total
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$
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370,986,685
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$
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$
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Industry Diversification
As of September 30, 2012 (Unaudited)
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Percentage of
Net Assets
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EQUITIES
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Consumer Discretionary
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5.4
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%
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Consumer Staples
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2.4
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Energy
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7.1
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Financials
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38.6
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Health Care
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1.5
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Industrials
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6.2
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Information Technology
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22.2
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Materials
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3.8
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Telecommunication Services
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6.8
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Utilities
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4.9
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TOTAL EQUITIES
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98.9
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Short-Term Investment
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0.4
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Investments of Cash Collateral from Securities Loaned
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23.1
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TOTAL INVESTMENTS
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122.4
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Liabilities in excess of cash and other assets
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(22.4
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NET ASSETS
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100.0
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%
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Notes to Schedule of Investments (Unaudited)
Valuation of Investments:
The Fund hold portfolio securities and other assets that are fair valued at the close of each day the New York Stock
Exchange (NYSE) is open for trading. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Board of Directors
has delegated fair valuation responsibilities to the Investment Manager, Baring Asset Management (Asia) Ltd., through the adoption of Valuation Procedures for valuation of the Funds securities. Under the current Valuation Procedures, a
Valuation Committee is established and responsible for supervising the valuation of portfolio securities and other assets. The Valuation Procedures allow the Fund to utilize independent pricing vendor services, quotations from market makers and
other valuation methods in events when market quotations are not readily available. A record of Valuation Committees actions is subject to review, approval and ratification by the Board at its next regularly scheduled quarterly meeting.
Various inputs are used in determining the value of the funds investments, which are summarized in the three broad level hierarchies based on
any observable inputs used as described in the table following the Schedule of Investment. The valuation methodologies and significant inputs used in determining the fair value of securities and other assets classified as Level 1, Level 2
and Level 3 of the hierarchy are as follows:
Common stock, warrants, exchange-traded funds and financial derivative instruments
(including futures contracts and certain options contracts on securities), that are traded on a national securities exchange are valued at the last sale price as of the close of trading on the applicable exchange. Securities traded via NASDAQ are
valued at the NASDAQ official closing price (NOCP). To the extent these securities are valued at the last sale price or NOCP, they are classified as Level 1 of the fair value hierarchy.
In the event there is no sale or official closing price on such day, these securities are valued at the mean between the last reported bid and asked prices, or at the last bid price in absence of an asked
price. These securities are classified as Level 2 of the fair value hierarchy as these inputs are considered as significant other observable inputs to the valuation.
For common stocks traded on foreign securities exchanges, certain valuation adjustments will be applied when events occur after the close of the securitys foreign market and before the Funds
normal pricing time. These securities are valued using pricing vendor services that provide adjustment factors based on information such as local closing price, relevant general and sector indices, currency fluctuations, depositary receipts, and
futures, as applicable. Securities-valued using such adjustment factors are classified as Level 2 of the fair value hierarchy.
Investments in
open-end, non-exchange-traded mutual funds are valued at their net asset value as of the close of the NYSE on the date of valuation. These securities are classified as Level 1 as these securities have the ability to be purchased or sold at their net
asset value on the date of valuation.
Securities and other assets that cannot be priced using the methods described above are valued with
pricing methodologies approved by the Valuation Committee. Where there are unobservable inputs used when determining such valuation, the securities will be classified as Level 3 of the fair value hierarchy.
When determining the fair value of securities, some of the factors influencing the valuation include: the nature of any restrictions on disposition of
the securities; assessment of the general liquidity of the securities; the issuers financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of the issuer; the
prices of any recent transactions or bids/offers for such securities or any comparable securities; any available analyst media or other reports or information deemed reliable by the investment adviser regarding the issuer or the markets or industry
in which it operates. Using fair value to price securities may result in a value that is different from a securitys most recent closing price and from the price used by other mutual funds to calculate their net assets values.
Other information regarding the Fund is available in the Funds most recent Annual and Semi-Annual Reports to Shareholders. This information is
available on the Securities and Exchange Commissions website (www.sec.gov).
Item 2.
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Controls and Procedures
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(a)
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It is the conclusion of the registrants principal executive officer and principal financial officer that the effectiveness of the registrants current
disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been
recorded, processed, summarized and reported within the time period specified in the Commissions rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrants
principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
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(b)
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There have been no significant changes in the registrants internal controls or in other factors that could significantly affect these controls subsequent to the
date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
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Certifications
pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 Attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) The Greater China Fund, Inc.
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By (Signature and Title)*
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/s/ Deborah A. Docs
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Deborah A. Docs
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Secretary of the Fund
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Date November 26, 2012
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in
the capacities and on the dates indicated.
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By (Signature and Title)*
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/s/ Brian Corris
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Brian Corris
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President and Principal Executive Officer
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Date November 26, 2012
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By (Signature and Title)*
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/s/ Grace C. Torres
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Grace C. Torres
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Treasurer and Principal Financial Officer
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Date November 26, 2012
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Print the name and title of each signing officer under his or her signature.
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Aberdeen Greater China Fund, (NYSE:GCH)
過去 株価チャート
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Aberdeen Greater China Fund, (NYSE:GCH)
過去 株価チャート
から 7 2023 まで 7 2024