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PRESS
RELEASE
11/18/2003
The
New Ireland Fund Quarterly Portfolio Update
Boston,
November 18, 2003 - The New Ireland Fund,
Inc. today released its Quarterly portfolio update as of October
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 October 31, 2003 |
% of
Fund |
| Construction
and Building Materials |
18.36% |
| Food and
Beverages |
14.38% |
| Financial |
18.12% |
| Health
Care Services |
8.81% |
| Leisure
and Hotels |
7.43% |
| Transportation |
7.09% |
| Diversified
Financial Services |
4.62% |
| Business
Services |
4.32% |
| Pharmaceuticals |
3.75% |
| Top
10 Holdings as of October 31, 2003 |
Sector |
% of
Fund |
| Allied
Irish Banks PLC |
Financial |
13.92% |
| Kerry
Group PLC, Series A |
Food
and Beverages |
11.66% |
| CRH
PLC |
Construction
and Building Materials |
11.53% |
| Ryanair
Holdings PLC |
Transportation |
7.09% |
| Irish
Life & Permanent PLC |
Diversified
Financial Services |
4.62% |
| United
Drug PLC |
Health
Care Services |
4.48% |
| Jury's
Doyle Hotel Group PLC |
Leisure
and Hotels |
4.40% |
| ICON
PLC-ADR |
Health
Care Services |
4.33% |
| DCC
PLC |
Business
Services |
4.32% |
| FBD
Holdings PLC |
Financial |
4.20% |
| Total Net
Assets: |
US $77,789,958 |
| Net Asset
Value: |
$16.29 |
| Market
Price: |
$13.81 |
| Prem/(Disc): |
(15.22%) |
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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