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PRESS
RELEASE
05/24/2005
The
New Ireland Fund Quarterly Portfolio Update
Boston,
May 24, 2005 - The New Ireland Fund, Inc. today released
its Quarterly portfolio update as of April 30, 2005.
Investment
Objective; The New Ireland Fund, Inc., (N.Y.S.E. - IRL) a closed-end
diversified investment company, seeks long-term capital appreciation
through investment of at least 80% of its assets in a portfolio
of Irish securities.
| Sector
Breakdown as of April 30, 2005 |
% of
Fund |
| Construction
and Building Materials |
25.12 |
| Financial |
20.89 |
| Food and
Beverages |
14.32 |
| Other Assets |
8.59 |
| Leisure
and Hotels |
7.69 |
| Health
Care Services |
6.65 |
| Business
Services |
4.91 |
| Transportation |
4.27 |
| Food
and Agriculture |
3.82 |
| Diversified
Financial Services |
3.74 |
| Top
10 Holdings as of April 30, 2005 |
Sector |
% of
Fund |
| Allied
Irish Banks PLC |
Financial |
16.67 |
| CRH
PLC |
Construction
and Building Materials |
12.33 |
| Kerry
Group PLC, Series A |
Food
and Beverages |
11.21 |
| Kingspan
Group PLC |
Construction
and Building Materials |
6.71 |
| DCC
PLC |
Business
Services |
4.91 |
| United
Drug PLC |
Health
Care Services |
4.50 |
| Jury's
Doyle Hotel Group PLC |
Leisure
and Hotels |
4.49 |
| Grafton
GRP PLC-UTS |
Construction
and Building Materials |
4.29 |
| Ryanair
Holdings PLC |
Transportation |
4.27 |
| FBD Holdings
PLC |
Financial |
4.22 |
| Total Net
Assets: |
US $110,925,513 |
| Net Asset
Value: |
$ 23.92 |
| Market
Price: |
$ 21.20 |
| Prem/(Disc): |
(11.37%) |
The
New Ireland Fund Inc. is managed by Bank of Ireland Asset Management
(U.S.) Limited, an indirect wholly owned subsidiary of Bank of Ireland
Group.
Website:
newirelandfund.com
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