Investment Company Act file number:
|
811-04710
|
Exact name of registrant as specified in charter:
|
The Asia Pacific Fund, Inc.
|
Address of principal executive offices:
|
48 Wall Street, 22nd Floor
New York, NY 10005
|
Name and address of agent for service:
|
Frank J. Maresca
AST Fund Solutions, LLC
48 Wall Street, 22nd Floor
New York, NY 10005
|
Registrant’s telephone number, including area code:
|
212-269-5500
|
Date of fiscal year end:
|
03/31/2018
|
Date of reporting period:
|
06/30/2017
|
Shares
|
Value
|
|||||||
LONG-TERM INVESTMENTS — 96.3%
|
||||||||
COMMON STOCKS — 86.8%
|
||||||||
CHINA (INCLUDING HONG KONG AND MACAU SAR) — 53.4%
|
||||||||
Belle International Holdings Ltd. (Consumer Discretionary)
|
866,000
|
$
|
683,265
|
|||||
BOC Hong Kong Holdings Ltd. (Banking)
|
353,500
|
1,691,106
|
||||||
Cheung Kong Property Holdings Ltd. (Real Estate)
|
226,156
|
1,771,313
|
||||||
China Cinda Asset Management Co. Ltd. (Class "H" Shares) (Financials)
|
1,117,000
|
416,329
|
||||||
China Communications Construction Co. Ltd. (Class "H" Shares) (Industrials)
|
437,000
|
563,080
|
||||||
China Construction Bank Corp. (Class "H" Shares) (Banking)
|
8,510,000
|
6,594,407
|
||||||
China Life Insurance Co. Ltd. (Class "H" Shares) (Insurance)
|
292,000
|
891,994
|
||||||
China Lilang Ltd. (Consumer Discretionary)
|
2,159,000
|
1,437,960
|
||||||
China Machinery Engineering Corp. (Class "H" Shares) (Industrials)
|
1,040,000
|
733,966
|
||||||
China Overseas Land & Investment Ltd. (Real Estate)
|
692,000
|
2,025,271
|
||||||
China Power International Development Ltd. (Utilities)
|
1,572,000
|
557,729
|
||||||
China Resources Power Holdings Co. Ltd. (Utilities)
|
1,478,622
|
2,901,394
|
||||||
China State Construction International Holdings Ltd. (Industrials)
|
1,708,000
|
2,922,706
|
||||||
China Tian Lun Gas Holdings Ltd. (Utilities)
|
1,024,500
|
551,127
|
||||||
Chongqing Changan Automobile Co. Ltd. (Class "B" Shares) (Consumer Discretionary)
|
1,346,685
|
1,776,618
|
||||||
Chongqing Rural Commercial Bank Co Ltd. (Class "H" Shares) (Banking)
|
1,023,000
|
690,521
|
||||||
Chow Sang Sang Holdings International Ltd. (Consumer Discretionary)
|
69,000
|
161,023
|
||||||
CIFI Holdings Group Co. Ltd. (Real Estate)
|
4,324,000
|
1,921,790
|
||||||
CK Hutchison Holdings Ltd. (Industrials)
|
128,156
|
1,608,629
|
||||||
Convenience Retail Asia Ltd. (Consumer Staples)
|
840,000
|
416,372
|
||||||
CSI Properties Ltd. (Real Estate)
|
25,940,000
|
1,245,925
|
||||||
EGL Holdings Co. Ltd. (Consumer Discretionary)
|
1,424,000
|
242,579
|
||||||
Far East Consortium International Ltd. (Real Estate)
|
4,393,277
|
2,453,386
|
||||||
Far East Horizon Ltd. (Financials)
|
2,888,000
|
2,519,040
|
||||||
FSE Engineering Holdings Ltd. (Industrials)
|
2,397,000
|
727,624
|
||||||
Goldpac Group Ltd. (Technology Hardware & Equipment)
|
696,000
|
209,492
|
||||||
Haitian International Holdings Ltd. (Industrials)
|
330,000
|
925,654
|
||||||
HKBN Ltd. (Telecommunication Services)
|
537,000
|
537,175
|
||||||
Hopefluent Group Holdings Ltd. (Real Estate)
|
926,000
|
316,675
|
||||||
Huayu Automotive Systems Co. Ltd. (Class "A" Shares) (Consumer Discretionary)
|
202,899
|
725,462
|
||||||
Hui Xian Real Estate Investment Trust (Real Estate Investment Trusts)
|
719,863
|
330,227
|
||||||
Hutchison Telecommunications Hong Kong Holdings Ltd. (Telecommunication Services)
|
1,994,000
|
702,342
|
||||||
Jiangnan Group Ltd. (Industrials)
|
6,420,000
|
559,158
|
||||||
Jinmao Hotel and Jinmao China Hotel Investments and Management Ltd. (Consumer Discretionary)
|
178,500
|
96,938
|
||||||
Lee & Man Chemical Co. Ltd. (Materials)
|
1,188,000
|
616,258
|
||||||
Longfor Properties Co. Ltd. (Real Estate)
|
2,836,000
|
6,095,214
|
||||||
Midea Group Co. Ltd. (Class "A" Shares) (Consumer Discretionary)
|
487,700
|
3,096,188
|
||||||
Nameson Holdings Ltd. (Consumer Discretionary)
|
2,790,000
|
539,600
|
||||||
Oi Wah Pawnshop Credit Holdings Ltd. (Diversified Financial Services)
|
4,547,054
|
253,344
|
||||||
PetroChina Co. Ltd. (Class "H" Shares) (Energy)
|
6,404,000
|
3,920,758
|
||||||
Ping An Insurance Group Co. of China Ltd. (Class "H" Shares) (Insurance)
|
426,000
|
2,807,280
|
||||||
Qingdao Port International Co. Ltd. (Class "H" Shares) (Industrials)
|
3,501,000
|
2,013,396
|
||||||
Shimao Property Holdings Ltd. (Real Estate)
|
560,500
|
959,120
|
||||||
SITC International Holdings Co. Ltd. (Industrials)
|
2,986,000
|
2,348,275
|
||||||
Skyworth Digital Holdings Ltd. (Consumer Discretionary)
|
4,464,025
|
2,773,059
|
||||||
SmarTone Telecommunications Holdings Ltd. (Telecommunication Services)
|
564,500
|
738,934
|
||||||
Springland International Holdings Ltd. (Consumer Discretionary)
|
1,608,000
|
317,174
|
||||||
TK Group Holdings Ltd. (Industrials)
|
2,428,000
|
988,932
|
||||||
Wasion Group Holdings Ltd. (Technology Hardware & Equipment)
|
496,000
|
228,069
|
||||||
WH Group Ltd. (Consumer Staples)
|
551,000
|
556,120
|
||||||
Wonderful Sky Financial Group Holdings Ltd. (Consumer Discretionary)
|
2,580,000
|
684,039
|
||||||
Xinjiang Goldwind Science & Technology Co. Ltd. (Class "H" Shares) (Capital Goods)
|
1,498,200
|
2,187,588
|
||||||
Xtep International Holdings Ltd. (Consumer Discretionary)
|
807,500
|
311,315
|
||||||
Yangtze Optical Fibre and Cable Joint Stock Ltd. Co. (Class "H" Shares) (Information Technology)
|
1,245,500
|
2,644,960
|
||||||
ZTO Express Cayman, Inc. ADR* (Industrials)
|
20,088
|
280,429
|
||||||
76,268,329
|
Shares
|
Value
|
|||||||
INDIA — 2.2%
|
||||||||
Bharti Infratel Ltd. (Telecommunication Services)
|
71,086
|
$
|
411,917
|
|||||
HCL Technologies Ltd. (Information Technology)
|
21,176
|
278,765
|
||||||
Housing Development & Infrastructure Ltd.* (Real Estate)
|
99,917
|
131,625
|
||||||
Indiabulls Housing Finance Ltd. (Banking)
|
33,663
|
560,455
|
||||||
Power Grid Corp. of India Ltd. (Utilities)
|
214,114
|
697,454
|
||||||
Sterlite Technologies Ltd. (Information Technology)
|
229,743
|
521,243
|
||||||
Take Solutions Ltd. (Information Technology)
|
224,609
|
569,363
|
||||||
3,170,822
|
||||||||
INDONESIA — 5.2%
|
||||||||
PT Adhi Karya Persero Tbk (Industrials)
|
1,635,800
|
263,888
|
||||||
PT Bank Pan Indonesia Tbk* (Banking)
|
7,194,500
|
526,328
|
||||||
PT Bekasi Fajar Industrial Estate Tbk (Real Estate)
|
20,658,300
|
505,317
|
||||||
PT Indosat Tbk (Telecommunication Services)
|
1,736,600
|
846,963
|
||||||
PT Link Net Tbk (Telecommunication Services)
|
2,290,800
|
889,506
|
||||||
PT Media Nusantara Citra Tbk (Consumer Discretionary)
|
3,454,600
|
476,944
|
||||||
PT Metropolitan Land Tbk (Real Estate)
|
192,700
|
4,511
|
||||||
PT Nusa Raya Cipta Tbk (Capital Goods)
|
1,482,800
|
44,726
|
||||||
PT Panin Financial Tbk* (Insurance)
|
56,411,400
|
990,453
|
||||||
PT Perusahaan Gas Negara Persero Tbk (Utilities)
|
4,841,100
|
817,293
|
||||||
PT United Tractors Tbk (Energy)
|
270,500
|
557,136
|
||||||
PT Waskita Karya Persero Tbk (Industrials)
|
3,333,000
|
580,196
|
||||||
PT XL Axiata Tbk (Telecommunication Services)
|
2,672,000
|
683,663
|
||||||
Total Bangun Persada Tbk PT (Industrials)
|
4,334,900
|
240,692
|
||||||
7,427,616
|
||||||||
MALAYSIA — 2.1%
|
||||||||
CB Industrial Product Holding Bhd (Industrials)
|
552,800
|
261,420
|
||||||
Cimb Group Holdings Bhd (Banking)
|
297,901
|
456,639
|
||||||
Mah Sing Group Bhd (Real Estate)
|
2,075,025
|
783,092
|
||||||
Tenaga Nasional Bhd (Utilities)
|
305,300
|
1,005,659
|
||||||
UOA Development Bhd (Real Estate)
|
751,300
|
446,301
|
||||||
2,953,111
|
||||||||
PHILIPPINES — 0.9%
|
||||||||
EEI Corp. (Industrials)
|
160,100
|
31,728
|
||||||
Megaworld Corp. (Real Estate)
|
4,505,000
|
383,898
|
||||||
Metropolitan Bank & Trust Co. (Financials)
|
483,860
|
839,036
|
||||||
1,254,662
|
||||||||
SINGAPORE — 4.2%
|
||||||||
AIMS AMP Capital Industrial REIT (Real Estate Investment Trusts)
|
663,956
|
713,750
|
||||||
Asian Pay Television Trust (Consumer Discretionary)
|
1,497,800
|
620,117
|
||||||
CapitaLand Retail China Trust (Real Estate Investment Trusts)
|
594,350
|
707,996
|
||||||
China Jinjiang Environment Holding Co. Ltd. (Utilities)
|
353,400
|
210,487
|
||||||
Croesus Retail Trust (Real Estate Investment Trusts)
|
969,025
|
830,543
|
||||||
DBS Group Holdings Ltd. (Banking)
|
96,482
|
1,453,449
|
||||||
Ezion Holdings Ltd.* (Energy)
|
1,278,700
|
218,264
|
||||||
Viva Industrial Trust (Real Estate)
|
1,192,200
|
766,368
|
||||||
Yangzijiang Shipbuilding Holdings Ltd. (Industrials)
|
567,800
|
490,780
|
||||||
6,011,754
|
||||||||
SOUTH KOREA — 7.6%
|
||||||||
Amotech Co. Ltd.* (Information Technology)
|
18,217
|
446,608
|
||||||
E-MART, Inc. (Consumer Staples)
|
1,985
|
406,837
|
||||||
Fila Korea Ltd. (Consumer Discretionary)
|
7,441
|
556,051
|
||||||
Hyundai Robotics Co Ltd.* (Information Technology)
|
1,335
|
450,970
|
||||||
KB Financial Group, Inc. (Banking)
|
35,574
|
1,794,013
|
||||||
Korea Electric Power Corp. (Utilities)
|
66,030
|
2,354,607
|
||||||
Maeil Dairy Industry Co. Ltd.* (Consumer Staples)
|
7,339
|
479,153
|
||||||
S-1 Corp. (Industrials)
|
8,015
|
679,504
|
||||||
Samsung Electronics Co. Ltd. (Technology Hardware & Equipment)
|
1,263
|
2,623,914
|
Shares
|
Value
|
|||||||
SOUTH KOREA (cont'd.)
|
||||||||
Sekonix Co. Ltd. (Technology Hardware & Equipment)
|
25,788
|
$
|
410,210
|
|||||
SK Hynix, Inc. (Semiconductors & Semiconductor Equipment)
|
12,380
|
729,286
|
||||||
10,931,153
|
||||||||
TAIWAN — 9.2%
|
||||||||
Advanced Semiconductor Engineering, Inc. (Information Technology)
|
236,340
|
303,388
|
||||||
Basso Industry Corp. (Consumer Discretionary)
|
383,000
|
1,070,184
|
||||||
Chilisin Electronics Corp. (Information Technology)
|
139,000
|
374,688
|
||||||
ChipMOS Technologies, Inc. (Information Technology)
|
417,000
|
416,040
|
||||||
CTBC Financial Holding Co. Ltd. (Banking)
|
1,307,000
|
857,155
|
||||||
Flexium Interconnect, Inc. (Information Technology)
|
107,000
|
402,745
|
||||||
Inventec Corp. (Information Technology)
|
899,000
|
732,913
|
||||||
Johnson Health Tech Co. Ltd. (Consumer Discretionary)
|
94,825
|
119,077
|
||||||
Kerry TJ Logistics Co. Ltd. (Industrials)
|
343,000
|
426,777
|
||||||
King Yuan Electronics Co. Ltd. (Information Technology)
|
1,721,000
|
1,762,299
|
||||||
Largan Precision Co. Ltd. (Information Technology)
|
6,700
|
1,068,212
|
||||||
Parade Technologies Ltd. (Information Technology)
|
36,000
|
442,603
|
||||||
Pegatron Corp. (Information Technology)
|
350,000
|
1,096,483
|
||||||
Quanta Computer, Inc. (Information Technology)
|
324,000
|
766,864
|
||||||
Superalloy Industrial Co. Ltd. (Consumer Discretionary)
|
21,955
|
106,816
|
||||||
Taiwan Sakura Corp. (Consumer Discretionary)
|
497,000
|
593,067
|
||||||
Taiwan Semiconductor Manufacturing Co. Ltd. (Information Technology)
|
378,000
|
2,590,828
|
||||||
13,130,139
|
||||||||
THAILAND — 1.5%
|
||||||||
AP Thailand PCL (Real Estate)
|
2,659,900
|
634,242
|
||||||
Kang Yong Electric PCL (Consumer Discretionary)
|
17,900
|
280,330
|
||||||
Supalai PCL (Real Estate)
|
1,610,900
|
1,232,952
|
||||||
2,147,524
|
||||||||
UNITED STATES — 0.5%
|
||||||||
Yum China Holdings, Inc.* (Consumer Discretionary)
|
17,441
|
687,699
|
||||||
TOTAL COMMON STOCKS (cost $112,868,799)
|
123,982,809
|
|||||||
EXCHANGE TRADED FUND — 2.0%
|
||||||||
INDIA
|
||||||||
iShares MSCI India ETF (cost $2,452,478) (Other)
|
86,900
|
2,789,490
|
||||||
PREFERENCE STOCKS — 7.5%
|
||||||||
SOUTH KOREA
|
||||||||
Samsung Electronics Co. Ltd. (Technology Hardware & Equipment)
|
4,787
|
7,790,407
|
||||||
Samsung Fire & Marine Insurance Co. Ltd. (Insurance)
|
17,155
|
2,923,764
|
||||||
TOTAL PREFERENCE STOCKS (cost $6,910,662)
|
10,714,171
|
|||||||
WARRANTS*(a) — 0.0%
|
||||||||
MALAYSIA — 0.0%
|
||||||||
Mah Sing Group Bhd, expiring 02/21/20 (Real Estate)
|
423,637
|
13,816
|
Shares
|
Value
|
|||||||
SINGAPORE — 0.0%
|
||||||||
Ezion Holdings Ltd., expiring 04/24/20 (Energy)
|
286,063
|
$
|
6,857
|
|||||
TOTAL WARRANTS (cost $0)
|
20,673
|
|||||||
TOTAL LONG-TERM INVESTMENTS (cost $122,231,939)
|
137,507,143
|
|||||||
SHORT-TERM INVESTMENT — 0.2%
|
||||||||
MONEY MARKET MUTUAL FUND
|
||||||||
JPMorgan Prime Money Market Fund/Premier (cost $227,174)
|
227,174
|
227,174
|
||||||
TOTAL INVESTMENTS — 96.5% (cost $122,459,113)(b)
|
137,734,317
|
|||||||
Other assets in excess of liabilities 3.5%
|
5,030,897
|
|||||||
NET ASSETS — 100.0%
|
$
|
142,765,214
|
*
|
Non-income producing security.
|
(a)
|
The amount represents fair value of derivative instruments subject to equity contracts risk exposure as of June 30, 2017.
|
(b)
|
The United States federal income tax basis of the Fund's investments and the net unrealized appreciation were as follows:
|
Tax Basis
|
$
|
123,021,978
|
||
Appreciation
|
20,855,290
|
|||
Depreciation
|
(6,142,951
|
)
|
||
Net Unrealized Appreciation
|
$
|
14,712,339
|
Real Estate
|
15.2
|
% |
Consumer Discretionary
|
12.2
|
|
Industrials
|
11.7
|
|
Information Technology
|
10.4
|
|
Banking
|
10.2
|
|
Technology Hardware & Equipment
|
7.9
|
|
Utilities
|
6.4
|
|
Insurance
|
5.3
|
|
Telecommunication Services
|
3.4
|
|
Energy
|
3.3
|
|
Financials
|
2.6
|
|
Other
|
2.0
|
|
Real Estate Investment Trusts
|
1.8
|
|
Capital Goods
|
1.5
|
|
Consumer Staples
|
1.3
|
|
Semiconductors & Semiconductor Equipment
|
0.5
|
|
Materials
|
0.4
|
|
Diversified Financial Services
|
0.2
|
|
Money Market Mutual Fund
|
0.2
|
|
96.5
|
||
Other assets in excess of liabilities
|
3.5
|
|
100.0
|
% |
Level 1
|
Level 2
|
Level 3
|
||||||||||
Investments in Securities
|
||||||||||||
Common Stocks
|
||||||||||||
China (including Hong Kong and Macau SAR)
|
$
|
76,268,329
|
$
|
—
|
$
|
—
|
||||||
India
|
3,170,822
|
—
|
—
|
|||||||||
Indonesia
|
7,427,616
|
—
|
—
|
|||||||||
Malaysia
|
2,953,111
|
—
|
—
|
|||||||||
Philippines
|
1,254,662
|
—
|
—
|
|||||||||
Singapore
|
6,011,754
|
—
|
—
|
|||||||||
South Korea
|
10,931,153
|
—
|
—
|
|||||||||
Taiwan
|
13,130,139
|
—
|
—
|
|||||||||
Thailand
|
—
|
2,147,524
|
—
|
|||||||||
United States
|
687,699
|
—
|
—
|
|||||||||
Exchange Traded Fund | ||||||||||||
India | 2,789,490 | — | — | |||||||||
Preference Stocks
|
||||||||||||
South Korea | 10,714,171 | — | — | |||||||||
Warrants
|
||||||||||||
Malaysia
|
13,816
|
—
|
—
|
|||||||||
Singapore
|
6,857
|
—
|
—
|
|||||||||
Money Market Mutual Fund
|
227,174
|
—
|
—
|
|||||||||
Total
|
$
|
135,586,793
|
$
|
2,147,524
|
$
|
—
|
(a)
|
It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s 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 Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
|
(b)
|
There have been no significant changes in the registrant’s 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.
|
|
Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 – Attached hereto.
|
(Registrant)
|
The Asia Pacific Fund, Inc.
|
|
By (Signature and Title)*
|
/s/ Hoyt M. Peters
|
|
Hoyt M. Peters
|
||
Secretary
|
By (Signature and Title)*
|
/s/ King Lun Au
|
|
King Lun Au
|
||
President and Principal Executive Officer
|
||
Date August 17, 2017
|
||
By (Signature and Title)*
|
/s/ Frank J. Maresca
|
|
Frank J. Maresca
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Treasurer and Principal Financial Officer
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Date August 17, 2017
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Print the name and title of each signing officer under his or her signature.
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