The Southern Africa Fund, Inc. reports second quarter earnings.NEW YORK--(BUSINESS WIRE)--July 15, 1996--The Southern Africa Fund, Inc. (NYSE NYSE See: New York Stock Exchange : SOA (1) (Start Of Authority) The first record in a DNS zone file. See DNS records. (2) (Service Oriented Architecture) The modularization of business functions for greater flexibility and reusability. ), a registered closed-end investment company closed-end investment company: see mutual fund. , today announced earnings for its second quarter ended May 31, 1996. Total net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. of the Fund on May 31, 1996 were $119,645,377 compared with $131,825,534 on February 29, 1996 and $108,387,771 on May 31, 1995. On May 31, 1996 net asset value per share was $19.92 based on 6,007,100 shares outstanding. May 31, 1996 February 29, 1996 May 31, 1995 Total Net Assets $119,645,377 $131,825,534 $108,387,771 NAV See navigation system and navigation bar. Per Share $19.92 $21.94 $18.04 Shares Outstanding 6,007,100 6,007,100 6,007,100 For the period March 1, 1996 through May 31, 1996, total net investment income was $286,941 or $.05 per share. The total net realized and unrealized loss Unrealized Loss A loss that results from holding onto an asset rather than cashing it in and officially taking the loss. Notes: Let's say you own a stock that is down 50%, but you haven't sold it to realize the loss yet. This is said to be an unrealized loss. was $(12,467,098) or $(2.07) per share for the same period. Second Quarter First Quarter Second Quarter Ended Ended Ended May 31, 1996 February 29, 1996 May 31, 1995 Total Net Investment Income $286,941 $133,094 $191,554 Per Share $.05 $0.02 $0.03 Total Net Realized/ Unrealized Gain (Loss) ($12,467,098) $11,590,644 $11,294,961 Per Share ($2.07) $1.93 $1.88 The Southern Africa Fund, Inc. is managed by Alliance Capital Management L.P. CONTACT: Media: Linda Finnerty 212-969-1316 or Shareholder: 1-800-221-5672 |
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