This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The China Fund, Inc. Announces Interim Management Arrangements

NEW YORK, Nov. 10, 2011 /PRNewswire/ -- The China Fund, Inc. (the "Fund") (NYSE: CHN) announces that the Fund has been advised by its Investment Manager, Martin Currie Inc., that Heartland Capital Management Limited ("Heartland") exercised its option to acquire Martin Currie Ltd.'s interest in MC China Limited, the joint venture of Martin Currie Inc.'s parent, Martin Currie Ltd., and Heartland and that Martin Currie Ltd.'s interest in MC China Limited has been transferred to Heartland (or its nominee).

With this transfer, Shifeng Ke is no longer with Martin Currie Inc. and accordingly has ceased to act as the Fund's portfolio manager.  Further, as a result of the transfer Martin Currie Inc. is no longer able to provide the Fund with the services of the existing team of eight analysts based in Shanghai who assisted Mr. Ke, all of whom are associated with MC China Limited.  

To address this, the Fund has entered into interim arrangements with Martin Currie Inc. and APS Asset Management Pte Ltd. to manage the Fund's portfolio until new management arrangements can be put in place.  APS Asset Management Pte Ltd. is a Singapore based investment management firm that specializes in Asia Pacific equity investments with a particular focus on China and Greater China.  APS has a team of ten analysts based across Beijing, Shanghai and Shenzhen.  

The interim arrangements will remain in place for a maximum of 150 days.  The Board is also considering potential managers, including Martin Currie Inc. and APS Asset Management Pte Ltd., to take over the management of the Fund's portfolio at the end of the term of the interim arrangements.  The selection of any such manager by the Board will be subject to stockholder approval.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 0.00%
FB $117.81 0.00%
GOOG $701.43 0.00%
TSLA $211.53 0.00%
YHOO $36.94 0.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs