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PRESS
RELEASE
08/15/2003
The
New Ireland Fund Quarterly Portfolio Update
Boston,
August 15, 2003 - The New Ireland Fund,
Inc. today released its Quarterly portfolio update as of July 31,
2003.
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 July 31, 2003 |
% of
Fund |
| Construction
and Building Materials |
19.82% |
| Food &
Beverages |
16.49% |
| Financial |
15.87% |
| Health
Care Services |
8.83% |
| Leisure
and Hotels |
7.83% |
| Transportation |
6.72% |
| Diversified
Financial Services |
4.19% |
| Business
Services |
4.15% |
| Pharmaceuticals |
4.11% |
| Top
10 Holdings as of July 31, 2003 |
Sector |
% of
Fund |
| CRH
PLC |
Construction
and Building Materials |
13.90% |
| Kerry
Group PLC, Series A |
Food
and Beverages |
13.54% |
| Allied
Irish Banks PLC |
Financial |
12.88% |
| Ryanair
Holdings PLC |
Transportation |
6.72% |
| Jury's
Doyle Hotel Group PLC |
Leisure
and Hotels |
5.07% |
| United
Drug PLC |
Health
Care Services |
4.44% |
| ICON
PLC-ADR |
Health
Care Services |
4.38% |
| Irish
Life & Permanent PLC |
Diversified
Financial Services |
4.19% |
| DCC
PLC |
Business
Services |
4.15% |
| Galen
Holdings PLC |
Pharmaceuticals |
4.11% |
| Total Net
Assets: |
US$67,470,518 |
| Net Asset
Value: |
$14.00 |
| Market
Price: |
$11.61 |
| Prem/Disc: |
(17.07%) |
The
New Ireland Fund 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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