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The China Fund, Inc. Announces the Retention of Consultant for Investment Manager Search

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The China Fund, Inc. Announces the Retention of Consultant for Investment Manager Search

PR Newswire

NEW YORK, July 30, 2018 /PRNewswire/ -- The China Fund, Inc. (NYSE:CHN) (the "Fund") today announced that Mercer Investments (HK) will be retained to undertake a comprehensive search for an investment manager. The Fund has given its current investment manager notice of termination of its investment management contract and a search is underway which will include the existing manager in the initial screening. 

The Fund and City of London Investment Management Company Limited ("CLIM") also announce the following:

(i) Discussions between Fund counsel, CLIM counsel and the Securities and Exchange Commission ("SEC") regarding Fund repayment of certain legal expenses have been unsuccessful.

(ii) A Committee of the Board and CLIM will meet on August 2nd to discuss a resolution of other outstanding matters including, but not limited to, the ultimate size and structure of the Fund, a shareholder event such as a significant tender, and the adoption of enhanced Corporate Governance standards for the Board.

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The Fund is a diversified closed-end investment company, which seeks long term capital appreciation primarily through investments in China companies.  Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol "CHN."

For further information regarding the Fund and the Fund's holdings, please call (888)-CHN-CALL or visit the Fund's website at www.chinafundinc.com.

City of London Investment Management Company Limited is authorized and regulated in the UK by the Financial Conduct  Authority, registered in the US as an Investment Advisor with the SEC, and regulated by the Dubai Financial Services Authority.  The World Markets Umbrella Fund Plc. is registered in Ireland and regulated by the Central Bank of Ireland.

Registered in England and Wales No 2685257 (City of London Investment Group plc.) and 2851236 (City of London Investment Management Company Limited), VAT No 629 6908 93.
Registered office: 77 Gracechurch Street, London, EC3V 0AS, United Kingdom
http://www.citlon.com

For further information regarding CLIM, please call Barry Olliff (CEO), City of London Investment Group PLC, (215)-313-3774.

Cision View original content:http://www.prnewswire.com/news-releases/the-china-fund-inc-announces-the-retention-of-consultant-for-investment-manager-search-300688491.html

SOURCE The China Fund, Inc.

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