Czech Republic Fund Inc. Reports Unaudited Results for 1995
The Czech Republic Fund Inc. has released unaudited results for the three months ended November 30, 1995. The Fund's investment operations commenced on September 30, 1994. The Fund recorded a net investment loss of $249,075, equivalent to 6 cents per share, compared to net investment income of $224,325, equivalent to 5 cents per share, for the two months ended November 30, 1994.
Key Takeaways:
- The Fund's net investment loss for the three months ended November 30, 1995 was $249,075, representing a loss of 6 cents per share.
- Net realized and unrealized gains for the three months ending November 30, 1995 were $889,053, equivalent to 20 cents per share, compared to a loss of $1,433,175, equivalent to 32 cents per share, for the two months ended November 30, 1994.
- As of November 30, 1995, the Fund's top 10 equity investments represented 54.2% of the Fund's net assets, with SPT Telecom (Czech Republic) being the largest investment at 14.4% of net assets.
- The Fund's common stock closed on the New York Stock Exchange on November 30, 1995 at $12.75 per share, representing a discount of 3.3% to the Fund's November 30, 1995 NAV of $13.18 per share.
Statistics:
- Net investment loss: $249,075 (6 cents per share)
- Net realized and unrealized gains: $889,053 (20 cents per share)
- Total net assets: $58,099,609
- NAV per share: $13.18
- Discount rate: 3.3% (November 30, 1995)
- Number of shares outstanding: 4,407,134
Sources:
- The Czech Republic Fund Inc. press release (December 13, 1995)
- Business Wire, December 13, 1995