9-6-13 10:30 AM EDT | Email Article
http://media.marketwire.com/attachments/201101/20751_379813_ASIAPACNEWlogo.jpg http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=1048728&ProfileId=051205&sourceType=1

NEWARK, NJ -- (Marketwired) -- 09/06/13 -- The Asia Pacific Fund, Inc. (the "Fund") (NYSE: APB) announced today that the stockholders of the Fund have approved the investment management agreement between the Fund and Value Partners Hong Kong Limited ("Value Partners") at a special meeting of stockholders held earlier today, September 6, 2013. The Fund further announced that Value Partners will become the Fund's investment manager effective October 1, 2013, succeeding Baring Asset Management (Asia) Limited ("Barings"), the Fund's current investment manager.

Value Partners is a wholly-owned subsidiary of Hong Kong based Value Partners Group Limited, an asset management group founded in 1993 with a focus on Asia investments. Value Partners Group Limited managed approximately US $8.8 billion as of July 31, 2013. Value Partners has agreed to manage the Fund in accordance with its current investment objective and fundamental investment policies and fee structure.

Michael J. Downey, the Fund's Chairman, commented: "We appreciate the vote of confidence by the stockholders. The selection by the Board of Directors of Value Partners was made after a comprehensive review of potential investment managers. We are enthusiastic about Value Partners' investment team and plans for the Fund." He further commented, "Barings will continue to manage the Fund through the date of the transition to Value Partners. Barings has been the Fund's investment manager since the Fund commenced operations in 1987, and we thank the firm and its investment professionals for their dedication, commitment and service to the Fund during that time."

The Fund also announced the election by stockholders at the Fund's annual meeting of stockholders, also held earlier today, of Robert F. Gunia and Nicholas T. Sibley as Class III Directors.

About The Asia Pacific Fund:
The Asia Pacific Fund is a diversified, closed-end management investment company, listed on the New York Stock Exchange under the symbol "APB." The investment objective of the Fund is to achieve long-term capital appreciation through investment primarily in equity securities in the Asia Pacific countries (excluding Japan). The Fund is managed by Baring Asset Management (Asia) Limited. For further information on The Asia Pacific Fund, please call our toll free line at 1-888-4-ASIA-PAC or visit www.asiapacificfund.com.

Information about Value Partners Group is available at www.valuepartners.com.hk.

Contact:
Patricia Baronowski
631-756-2486
Email Contact


Add a Comment

News   More...

Start Premium Trial Register For Free

P F Fund Financial Data (13,000+ funds)
P F Stock Financial Data (7,000+ stocks)
P F Stock and Fund Screeners (basic)
P F Investing Articles and Market Commentary
P F Articles Archive (>30 days)
P F Discuss (dozens of stock, fund, bond, and general bulletin boards)
P F Portfolio Manager (basic)
P F Morningstar Investment Classroom
P F Access Your Portfolio Anytime, Anywhere via Your Mobile Device
P   Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)
P   Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)
P   Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)
P   Portfolio Monitor (monthly and on-demand personalized portfolio statements)
P   Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)
P   Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters
P   Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)
P   Discounts on Morningstar newsletters, books, seminars, and more

Sign-up to Morningstar


Basic Access

Articles and Videos
Morningstar video reports, articles, data, and tools. Dig into our lineup of e-newsletters and investing classroom courses outlining sensible strategies for maximizing your investments.
Morningstar Discuss
Follow the buzz on individual stocks or fund families. Plus, read the latest posts from Morningstar members and analysts.
Portfolio Manager
Track your investments and watch lists with our Portfolio Manager. Customize your view with our comprehensive stock, fund, and ETF data.

Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.

Unlimited Access

Analyst Research
Gather in-depth, actionable insight on over 3,700 stock and mutual funds covered by Morningstar analysts. View our mutual fund Analyst Reports favored by professionals, savvy experienced investors, and new investors researching options for retirement savings, college plans, or other investment needs.
Portfolio X-Ray®
Ensure your portfolio is positioned exactly how you want with Morningstar's X-Ray Interpreter and Stock Intersection tools. A Barron's "Best of the Web" award winner for five years running, X-Ray Interpreter goes under the hood of your portfolio to provide a useful allocation, sector, and geographic analysis. And you can discover how much of a stock you really own, individually and through mutual funds, with Stock Intersection.
Investment Picks
Find new 5-star stocks (greatly undervalued companies) to consider daily. Our 5-star stock rating is a proven winner, consistently beating benchmarks like the S&P 500. Plus, browse our Fund Analyst Picks and Stewardship Grades to find shareholder-friendly mutual funds that are poised for outperformance.
Portfolio Monitor
Get a clear view of your investments with personalized reports about your portfolio. Receive monthly statements and generate reports on-demand to help you stay on track to meet your investment goals.

Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.

Content Partners
Morningstar - - Asia Pacific Fund Announces Approval of New Investment Manager by Stockholders and Election of Directors
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

Previous: ASIA MARKETS: Shanghai Stocks Fall As Money-market Rates Rise  |  Next: Asia Pacific Sees Rise in Second-Half Contracts, But Value is Flat with First Half: ISG Outsourcing Index