UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
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Investment Company Act file number |
811-08388 | |||||||
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Morgan Stanley Asia-Pacific Fund, Inc. | ||||||||
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(Exact name of registrant as specified in charter) | ||||||||
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522 Fifth Avenue, New York, New York |
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10036 | ||||||
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(Address of principal executive offices) |
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(Zip code) | ||||||
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Arthur Lev 522 Fifth Avenue, New York, New York 10036 | ||||||||
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(Name and address of agent for service) | ||||||||
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Registrant’s telephone number, including area code: |
201-830-8894 |
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Date of fiscal year end: |
December 31, 2012 |
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Date of reporting period: |
September 30, 2012 |
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Item 1. Schedule of Investments.
The Fund’s schedule of investments as of the close of the reporting period prepared pursuant to Rule 12-12 of Regulation S-X is as follows:
Morgan Stanley Asia-Pacific Fund, Inc.
Portfolio of Investments
Third Quarter Report
September 30, 2012 (unaudited)
|
|
|
Shares |
|
Value |
| |
|
Common Stocks (96.1%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Australia (9.7%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Commercial Banks |
|
|
|
|
| |
|
Australia & New Zealand Banking Group Ltd. |
|
215,442 |
|
$ |
5,531 |
|
|
Commonwealth Bank of Australia |
|
99,907 |
|
5,780 |
| |
|
|
|
|
|
11,311 |
| |
|
Construction & Engineering |
|
|
|
|
| |
|
UGL Ltd. |
|
189,400 |
|
2,057 |
| |
|
|
|
|
|
|
| |
|
Diversified Telecommunication Services |
|
|
|
|
| |
|
Telstra Corp., Ltd. |
|
322,000 |
|
1,309 |
| |
|
|
|
|
|
|
| |
|
Energy Equipment & Services |
|
|
|
|
| |
|
WorleyParsons Ltd. |
|
75,965 |
|
2,229 |
| |
|
|
|
|
|
|
| |
|
Food & Staples Retailing |
|
|
|
|
| |
|
Wesfarmers Ltd. |
|
65,123 |
|
2,314 |
| |
|
|
|
|
|
|
| |
|
Insurance |
|
|
|
|
| |
|
AMP Ltd. |
|
616,376 |
|
2,769 |
| |
|
Suncorp Group Ltd. |
|
319,818 |
|
3,065 |
| |
|
|
|
|
|
5,834 |
| |
|
Metals & Mining |
|
|
|
|
| |
|
BHP Billiton Ltd. |
|
102,436 |
|
3,511 |
| |
|
|
|
|
|
|
| |
|
Oil, Gas & Consumable Fuels |
|
|
|
|
| |
|
Santos Ltd. |
|
98,643 |
|
1,162 |
| |
|
|
|
|
|
29,727 |
| |
|
China (9.5%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Beverages |
|
|
|
|
| |
|
Tsingtao Brewery Co., Ltd. H Shares (a) |
|
172,000 |
|
949 |
| |
|
|
|
|
|
|
| |
|
Biotechnology |
|
|
|
|
| |
|
Sino Biopharmaceutical (a) |
|
184,000 |
|
68 |
| |
|
|
|
|
|
|
| |
|
Commercial Banks |
|
|
|
|
| |
|
Bank of China Ltd. H Shares (a) |
|
4,745,000 |
|
1,805 |
| |
|
China Construction Bank Corp. H Shares (a) |
|
5,443,560 |
|
3,777 |
| |
|
|
|
|
|
5,582 |
| |
|
Diversified Telecommunication Services |
|
|
|
|
| |
|
China Telecom Corp., Ltd. H Shares (a) |
|
2,034,000 |
|
1,175 |
| |
|
|
|
|
|
|
| |
|
Food & Staples Retailing |
|
|
|
|
| |
|
China Resources Enterprise Ltd. (a) |
|
206,000 |
|
688 |
| |
|
|
|
|
|
|
| |
|
Food Products |
|
|
|
|
| |
|
China Mengniu Dairy Co., Ltd. (a) |
|
619,000 |
|
1,852 |
| |
|
Uni-President China Holdings Ltd. (a) |
|
15,000 |
|
17 |
| |
|
|
|
|
|
1,869 |
| |
|
|
|
Shares |
|
Value |
| |
|
Health Care Providers & Services |
|
|
|
|
| |
|
Shanghai Pharmaceuticals Holding Co., Ltd. H Shares (a) |
|
690,200 |
|
$ |
1,280 |
|
|
|
|
|
|
|
| |
|
Insurance |
|
|
|
|
| |
|
AIA Group Ltd. (a) |
|
529,200 |
|
1,972 |
| |
|
China Life Insurance Co., Ltd. H Shares (a) |
|
686,000 |
|
1,982 |
| |
|
China Pacific Insurance Group Co., Ltd. H Shares (a) |
|
858,600 |
|
2,597 |
| |
|
|
|
|
|
6,551 |
| |
|
Internet Software & Services |
|
|
|
|
| |
|
Tencent Holdings Ltd. (a) |
|
88,800 |
|
3,026 |
| |
|
|
|
|
|
|
| |
|
Oil, Gas & Consumable Fuels |
|
|
|
|
| |
|
CNOOC Ltd. (a) |
|
686,000 |
|
1,407 |
| |
|
|
|
|
|
|
| |
|
Personal Products |
|
|
|
|
| |
|
Hengan International Group Co., Ltd. (a) |
|
133,500 |
|
1,262 |
| |
|
|
|
|
|
|
| |
|
Real Estate Management & Development |
|
|
|
|
| |
|
China Overseas Land & Investment Ltd. (a) |
|
288,000 |
|
732 |
| |
|
|
|
|
|
|
| |
|
Specialty Retail |
|
|
|
|
| |
|
Belle International Holdings Ltd. (a) |
|
1,168,000 |
|
2,115 |
| |
|
Chow Tai Fook Jewellery Group Ltd. (a) |
|
887,800 |
|
1,264 |
| |
|
|
|
|
|
3,379 |
| |
|
Textiles, Apparel & Luxury Goods |
|
|
|
|
| |
|
Trinity Ltd. (a) |
|
1,212,000 |
|
813 |
| |
|
|
|
|
|
|
| |
|
Wireless Telecommunication Services |
|
|
|
|
| |
|
China Mobile Ltd. (a) |
|
35,500 |
|
394 |
| |
|
|
|
|
|
29,175 |
| |
|
Hong Kong (3.9%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Commercial Banks |
|
|
|
|
| |
|
BOC Hong Kong Holdings Ltd. |
|
445,000 |
|
1,414 |
| |
|
|
|
|
|
|
| |
|
Diversified Financial Services |
|
|
|
|
| |
|
Hong Kong Exchanges and Clearing Ltd. |
|
38,300 |
|
579 |
| |
|
|
|
|
|
|
| |
|
Industrial Conglomerates |
|
|
|
|
| |
|
Hutchison Whampoa Ltd. |
|
216,000 |
|
2,095 |
| |
|
|
|
|
|
|
| |
|
Real Estate Management & Development |
|
|
|
|
| |
|
Cheung Kong Holdings Ltd. |
|
109,000 |
|
1,598 |
| |
|
Henderson Land Development Co., Ltd. |
|
50,000 |
|
360 |
| |
|
Hongkong Land Holdings Ltd. |
|
250,000 |
|
1,503 |
| |
|
Kerry Properties Ltd. |
|
34,500 |
|
174 |
| |
|
Wharf Holdings Ltd. |
|
468,805 |
|
3,256 |
| |
|
|
|
|
|
6,891 |
| |
|
Textiles, Apparel & Luxury Goods |
|
|
|
|
| |
|
Samsonite International SA |
|
435,900 |
|
836 |
| |
|
|
|
Shares |
|
Value |
| |
|
Wireless Telecommunication Services |
|
|
|
|
| |
|
SmarTone Telecommunications Holdings Ltd. |
|
31,500 |
|
$ |
63 |
|
|
|
|
|
|
11,878 |
| |
|
India (3.5%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Automobiles |
|
|
|
|
| |
|
Tata Motors Ltd. |
|
453,023 |
|
2,298 |
| |
|
|
|
|
|
|
| |
|
Commercial Banks |
|
|
|
|
| |
|
HDFC Bank Ltd. |
|
149,658 |
|
1,785 |
| |
|
IndusInd Bank Ltd. |
|
381,591 |
|
2,632 |
| |
|
|
|
|
|
4,417 |
| |
|
Construction Materials |
|
|
|
|
| |
|
ACC Ltd. |
|
64,767 |
|
1,805 |
| |
|
|
|
|
|
|
| |
|
Tobacco |
|
|
|
|
| |
|
ITC Ltd. |
|
456,817 |
|
2,359 |
| |
|
|
|
|
|
10,879 |
| |
|
Indonesia (6.7%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Automobiles |
|
|
|
|
| |
|
Astra International Tbk PT |
|
3,239,500 |
|
2,505 |
| |
|
|
|
|
|
|
| |
|
Commercial Banks |
|
|
|
|
| |
|
Bank Central Asia Tbk PT |
|
1,562,500 |
|
1,290 |
| |
|
Bank Mandiri Persero Tbk PT |
|
2,582,000 |
|
2,213 |
| |
|
Bank Tabungan Negara Persero Tbk PT |
|
12,263,500 |
|
1,845 |
| |
|
|
|
|
|
5,348 |
| |
|
Diversified Telecommunication Services |
|
|
|
|
| |
|
Telekomunikasi Indonesia Persero Tbk PT |
|
1,481,500 |
|
1,463 |
| |
|
|
|
|
|
|
| |
|
Food Products |
|
|
|
|
| |
|
Indofood Agri Resources Ltd. |
|
1,108,000 |
|
1,232 |
| |
|
Indofood Sukses Makmur Tbk PT |
|
1,852,500 |
|
1,094 |
| |
|
|
|
|
|
2,326 |
| |
|
Oil, Gas & Consumable Fuels |
|
|
|
|
| |
|
Delta Dunia Makmur Tbk PT (b) |
|
8,019,500 |
|
209 |
| |
|
|
|
|
|
|
| |
|
Pharmaceuticals |
|
|
|
|
| |
|
Kalbe Farma Tbk PT |
|
3,620,000 |
|
1,778 |
| |
|
Tempo Scan Pacific Tbk PT |
|
2,329,500 |
|
742 |
| |
|
|
|
|
|
2,520 |
| |
|
Real Estate Management & Development |
|
|
|
|
| |
|
Bumi Serpong Damai PT |
|
15,377,000 |
|
1,816 |
| |
|
Lippo Karawaci Tbk PT |
|
23,290,500 |
|
2,409 |
| |
|
|
|
|
|
4,225 |
| |
|
|
|
Shares |
|
Value |
| |
|
Wireless Telecommunication Services |
|
|
|
|
| |
|
Indosat Tbk PT |
|
3,482,500 |
|
$ |
1,965 |
|
|
|
|
|
|
20,561 |
| |
|
Japan (34.7%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Auto Components |
|
|
|
|
| |
|
Toyota Industries Corp. |
|
86,300 |
|
2,416 |
| |
|
|
|
|
|
|
| |
|
Automobiles |
|
|
|
|
| |
|
Honda Motor Co., Ltd. |
|
102,000 |
|
3,133 |
| |
|
Nissan Motor Co., Ltd. |
|
438,200 |
|
3,734 |
| |
|
Toyota Motor Corp. |
|
176,400 |
|
6,872 |
| |
|
Yamaha Motor Co., Ltd. |
|
466,200 |
|
4,074 |
| |
|
|
|
|
|
17,813 |
| |
|
Building Products |
|
|
|
|
| |
|
Asahi Glass Co., Ltd. |
|
306,000 |
|
2,039 |
| |
|
Daikin Industries Ltd. |
|
84,200 |
|
2,183 |
| |
|
|
|
|
|
4,222 |
| |
|
Capital Markets |
|
|
|
|
| |
|
Daiwa Securities Group, Inc. |
|
1,425,000 |
|
5,423 |
| |
|
Nomura Holdings, Inc. |
|
1,270,300 |
|
4,542 |
| |
|
|
|
|
|
9,965 |
| |
|
Chemicals |
|
|
|
|
| |
|
JSR Corp. |
|
68,300 |
|
1,120 |
| |
|
Teijin Ltd. |
|
399,000 |
|
977 |
| |
|
|
|
|
|
2,097 |
| |
|
Commercial Banks |
|
|
|
|
| |
|
Mizuho Financial Group, Inc. |
|
2,276,100 |
|
3,704 |
| |
|
Sumitomo Mitsui Financial Group, Inc. |
|
175,600 |
|
5,490 |
| |
|
Sumitomo Mitsui Trust Holdings, Inc. |
|
1,360,000 |
|
4,043 |
| |
|
Tokyo Tomin Bank Ltd. (The) |
|
132,300 |
|
1,239 |
| |
|
Yachiyo Bank Ltd. (The) |
|
15,200 |
|
295 |
| |
|
|
|
|
|
14,771 |
| |
|
Computers & Peripherals |
|
|
|
|
| |
|
Toshiba Corp. |
|
345,000 |
|
1,105 |
| |
|
|
|
|
|
|
| |
|
Electrical Equipment |
|
|
|
|
| |
|
Sumitomo Electric Industries Ltd. |
|
95,000 |
|
1,004 |
| |
|
|
|
|
|
|
| |
|
Electronic Equipment, Instruments & Components |
|
|
|
|
| |
|
Hitachi Ltd. |
|
398,000 |
|
2,213 |
| |
|
TDK Corp. |
|
25,400 |
|
946 |
| |
|
|
|
|
|
3,159 |
| |
|
Household Durables |
|
|
|
|
| |
|
Sekisui House Ltd. |
|
82,000 |
|
814 |
| |
|
|
|
Shares |
|
Value |
| |
|
Insurance |
|
|
|
|
| |
|
Dai-ichi Life Insurance Co., Ltd. (The) |
|
3,686 |
|
$ |
4,185 |
|
|
T&D Holdings, Inc. |
|
383,700 |
|
4,154 |
| |
|
|
|
|
|
8,339 |
| |
|
Machinery |
|
|
|
|
| |
|
Amada Co., Ltd. |
|
159,000 |
|
697 |
| |
|
Asahi Diamond Industrial Co., Ltd. |
|
154,300 |
|
1,736 |
| |
|
FANUC Corp. |
|
12,700 |
|
2,047 |
| |
|
NSK Ltd. |
|
264,000 |
|
1,533 |
| |
|
Sumitomo Heavy Industries Ltd. |
|
1,277,000 |
|
4,369 |
| |
|
THK Co., Ltd. |
|
46,400 |
|
712 |
| |
|
|
|
|
|
11,094 |
| |
|
Marine |
|
|
|
|
| |
|
Mitsui OSK Lines Ltd. |
|
1,360,000 |
|
3,172 |
| |
|
Nippon Yusen KK |
|
1,161,000 |
|
2,053 |
| |
|
|
|
|
|
5,225 |
| |
|
Media |
|
|
|
|
| |
|
Fuji Media Holdings, Inc. |
|
1,027 |
|
1,682 |
| |
|
|
|
|
|
|
| |
|
Metals & Mining |
|
|
|
|
| |
|
Mitsui Mining & Smelting Co., Ltd. |
|
1,436,000 |
|
3,055 |
| |
|
Nippon Steel Sumitomo Metal Corp. |
|
758,000 |
|
1,554 |
| |
|
|
|
|
|
4,609 |
| |
|
Real Estate Management & Development |
|
|
|
|
| |
|
Mitsubishi Estate Co., Ltd. |
|
240,000 |
|
4,595 |
| |
|
Mitsui Fudosan Co., Ltd. |
|
114,000 |
|
2,283 |
| |
|
|
|
|
|
6,878 |
| |
|
Semiconductors & Semiconductor Equipment |
|
|
|
|
| |
|
Disco Corp. |
|
48,300 |
|
2,327 |
| |
|
Tokyo Electron Ltd. |
|
74,100 |
|
3,157 |
| |
|
|
|
|
|
5,484 |
| |
|
Software |
|
|
|
|
| |
|
Nintendo Co., Ltd. |
|
9,800 |
|
1,242 |
| |
|
|
|
|
|
|
| |
|
Specialty Retail |
|
|
|
|
| |
|
K’s Holdings Corp. |
|
192,800 |
|
4,812 |
| |
|
|
|
|
|
106,731 |
| |
|
Korea, Republic of (12.2%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Aerospace & Defense |
|
|
|
|
| |
|
Korea Aerospace Industries Ltd. |
|
21,290 |
|
535 |
| |
|
|
|
|
|
|
| |
|
Air Freight & Logistics |
|
|
|
|
| |
|
Hyundai Glovis Co., Ltd. |
|
5,859 |
|
1,284 |
| |
|
|
|
|
|
|
| |
|
Airlines |
|
|
|
|
| |
|
Korean Air Lines Co., Ltd. (b) |
|
12,482 |
|
534 |
| |
|
|
|
Shares |
|
Value |
| |
|
Auto Components |
|
|
|
|
| |
|
Mando Corp. |
|
2,594 |
|
$ |
359 |
|
|
|
|
|
|
|
| |
|
Automobiles |
|
|
|
|
| |
|
Hyundai Motor Co. |
|
21,139 |
|
4,793 |
| |
|
|
|
|
|
|
| |
|
Chemicals |
|
|
|
|
| |
|
Cheil Industries, Inc. |
|
1,462 |
|
134 |
| |
|
Kumho Petro Chemical Co., Ltd. |
|
6,673 |
|
741 |
| |
|
LG Chem Ltd. |
|
2,013 |
|
600 |
| |
|
|
|
|
|
1,475 |
| |
|
Commercial Banks |
|
|
|
|
| |
|
KB Financial Group, Inc. |
|
26,975 |
|
963 |
| |
|
Shinhan Financial Group Co., Ltd. |
|
40,876 |
|
1,396 |
| |
|
|
|
|
|
2,359 |
| |
|
Construction & Engineering |
|
|
|
|
| |
|
Hyundai Engineering & Construction Co., Ltd. |
|
30,717 |
|
1,866 |
| |
|
|
|
|
|
|
| |
|
Distributors |
|
|
|
|
| |
|
GS Retail Co., Ltd. |
|
17,730 |
|
482 |
| |
|
|
|
|
|
|
| |
|
Food & Staples Retailing |
|
|
|
|
| |
|
E-Mart Co., Ltd. |
|
816 |
|
178 |
| |
|
|
|
|
|
|
| |
|
Food Products |
|
|
|
|
| |
|
Orion Corp/Republic of South Korea |
|
633 |
|
553 |
| |
|
|
|
|
|
|
| |
|
Household Durables |
|
|
|
|
| |
|
Woongjin Coway Co., Ltd. |
|
44,500 |
|
1,231 |
| |
|
|
|
|
|
|
| |
|
Information Technology Services |
|
|
|
|
| |
|
SK C&C Co., Ltd. |
|
16,257 |
|
1,460 |
| |
|
|
|
|
|
|
| |
|
Insurance |
|
|
|
|
| |
|
Samsung Life Insurance Co., Ltd. |
|
8,335 |
|
721 |
| |
|
|
|
|
|
|
| |
|
Internet Software & Services |
|
|
|
|
| |
|
NHN Corp. |
|
689 |
|
180 |
| |
|
|
|
|
|
|
| |
|
Machinery |
|
|
|
|
| |
|
Hyundai Heavy Industries Co., Ltd. |
|
6,498 |
|
1,476 |
| |
|
|
|
|
|
|
| |
|
Media |
|
|
|
|
| |
|
Cheil Worldwide, Inc. |
|
39,380 |
|
838 |
| |
|
YG Entertainment, Inc. (b) |
|
9,088 |
|
779 |
| |
|
|
|
|
|
1,617 |
| |
|
Semiconductors & Semiconductor Equipment |
|
|
|
|
| |
|
Samsung Electronics Co., Ltd. |
|
8,281 |
|
10,029 |
| |
|
Samsung Electronics Co., Ltd. (Preference) |
|
3,192 |
|
2,266 |
| |
|
|
|
|
|
12,295 |
| |
|
|
|
Shares |
|
Value |
| |
|
Software |
|
|
|
|
| |
|
NCSoft Corp. |
|
8,380 |
|
$ |
1,791 |
|
|
Nexon Co., Ltd. (b) |
|
157,000 |
|
2,158 |
| |
|
|
|
|
|
3,949 |
| |
|
|
|
|
|
37,347 |
| |
|
Laos (0.6%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Automobiles |
|
|
|
|
| |
|
Kolao Holdings |
|
127,260 |
|
1,981 |
| |
|
|
|
|
|
|
| |
|
Malaysia (1.2%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Commercial Banks |
|
|
|
|
| |
|
CIMB Group Holdings Bhd |
|
476,300 |
|
1,169 |
| |
|
|
|
|
|
|
| |
|
Construction & Engineering |
|
|
|
|
| |
|
IJM Corp. Bhd |
|
307,500 |
|
475 |
| |
|
|
|
|
|
|
| |
|
Diversified Financial Services |
|
|
|
|
| |
|
AMMB Holdings Bhd |
|
215,100 |
|
448 |
| |
|
|
|
|
|
|
| |
|
Health Care Providers & Services |
|
|
|
|
| |
|
IHH Healthcare Bhd (b) |
|
475,900 |
|
498 |
| |
|
|
|
|
|
|
| |
|
Industrial Conglomerates |
|
|
|
|
| |
|
Sime Darby Bhd |
|
196,500 |
|
630 |
| |
|
|
|
|
|
|
| |
|
Real Estate Management & Development |
|
|
|
|
| |
|
UEM Land Holdings Bhd (b) |
|
644,500 |
|
354 |
| |
|
|
|
|
|
3,574 |
| |
|
Philippines (3.7%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Airlines |
|
|
|
|
| |
|
Cebu Air, Inc. |
|
142,920 |
|
186 |
| |
|
|
|
|
|
|
| |
|
Commercial Banks |
|
|
|
|
| |
|
Metropolitan Bank & Trust |
|
1,525,950 |
|
3,384 |
| |
|
|
|
|
|
|
| |
|
Diversified Financial Services |
|
|
|
|
| |
|
Ayala Corp. |
|
167,506 |
|
1,711 |
| |
|
Metro Pacific Investments Corp. |
|
29,229,000 |
|
2,936 |
| |
|
|
|
|
|
4,647 |
| |
|
Food & Staples Retailing |
|
|
|
|
| |
|
Puregold Price Club, Inc. |
|
2,101,200 |
|
1,496 |
| |
|
|
|
|
|
|
| |
|
Hotels, Restaurants & Leisure |
|
|
|
|
| |
|
Bloomberry Resorts Corp. (b) |
|
687,000 |
|
185 |
| |
|
|
|
|
|
|
| |
|
Industrial Conglomerates |
|
|
|
|
| |
|
DMCI Holdings, Inc. |
|
557,890 |
|
776 |
| |
|
|
|
|
|
|
| |
|
Transportation Infrastructure |
|
|
|
|
| |
|
International Container Terminal Services, Inc. |
|
464,000 |
|
783 |
| |
|
|
|
|
|
11,457 |
| |
|
|
|
Shares |
|
Value |
| |
|
Singapore (1.7%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Commercial Banks |
|
|
|
|
| |
|
DBS Group Holdings Ltd. |
|
141,000 |
|
$ |
1,654 |
|
|
|
|
|
|
|
| |
|
Food & Staples Retailing |
|
|
|
|
| |
|
Olam International Ltd. |
|
793,318 |
|
1,325 |
| |
|
|
|
|
|
|
| |
|
Industrial Conglomerates |
|
|
|
|
| |
|
Keppel Corp., Ltd. |
|
111,100 |
|
1,032 |
| |
|
|
|
|
|
|
| |
|
Real Estate Management & Development |
|
|
|
|
| |
|
CapitaLand Ltd. |
|
489,000 |
|
1,267 |
| |
|
|
|
|
|
5,278 |
| |
|
Taiwan (6.7%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Chemicals |
|
|
|
|
| |
|
Formosa Plastics Corp. |
|
184,000 |
|
526 |
| |
|
Taiwan Fertilizer Co., Ltd. |
|
209,000 |
|
567 |
| |
|
|
|
|
|
1,093 |
| |
|
Computers & Peripherals |
|
|
|
|
| |
|
Asustek Computer, Inc. |
|
174,280 |
|
1,894 |
| |
|
Catcher Technology Co., Ltd. |
|
83,000 |
|
391 |
| |
|
Foxconn Technology Co., Ltd. |
|
100 |
|
— |
@ | |
|
|
|
|
|
2,285 |
| |
|
Construction & Engineering |
|
|
|
|
| |
|
Lung Yen Life Service Corp. |
|
224,000 |
|
772 |
| |
|
|
|
|
|
|
| |
|
Construction Materials |
|
|
|
|
| |
|
Taiwan Cement Corp. |
|
1,040,000 |
|
1,288 |
| |
|
|
|
|
|
|
| |
|
Diversified Financial Services |
|
|
|
|
| |
|
Chailease Holding Co., Ltd. |
|
417,000 |
|
787 |
| |
|
Fubon Financial Holding Co., Ltd. |
|
740,223 |
|
805 |
| |
|
|
|
|
|
1,592 |
| |
|
Electronic Equipment, Instruments & Components |
|
|
|
|
| |
|
Hon Hai Precision Industry Co., Ltd. |
|
853,860 |
|
2,680 |
| |
|
|
|
|
|
|
| |
|
Food Products |
|
|
|
|
| |
|
Uni-President Enterprises Corp. |
|
2,448,059 |
|
4,342 |
| |
|
|
|
|
|
|
| |
|
Hotels, Restaurants & Leisure |
|
|
|
|
| |
|
Wowprime Corp. |
|
33,000 |
|
487 |
| |
|
|
|
|
|
|
| |
|
Insurance |
|
|
|
|
| |
|
China Life Insurance Co., Ltd. (b) |
|
844,066 |
|
782 |
| |
|
|
|
|
|
|
| |
|
Semiconductors & Semiconductor Equipment |
|
|
|
|
| |
|
MediaTek, Inc. |
|
71,000 |
|
750 |
| |
|
MStar Semiconductor, Inc. |
|
138,000 |
|
1,109 |
| |
|
Siliconware Precision Industries Co. |
|
135,000 |
|
150 |
| |
|
|
|
Shares |
|
Value |
| |
|
Taiwan Semiconductor Manufacturing Co., Ltd. |
|
1,037,592 |
|
$ |
3,178 |
|
|
|
|
|
|
5,187 |
| |
|
|
|
|
|
20,508 |
| |
|
Thailand (1.8%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Airlines |
|
|
|
|
| |
|
Thai Airways International PCL (b) |
|
1,642,000 |
|
1,158 |
| |
|
|
|
|
|
|
| |
|
Commercial Banks |
|
|
|
|
| |
|
Kasikornbank PCL NVDR |
|
257,000 |
|
1,524 |
| |
|
|
|
|
|
|
| |
|
Construction Materials |
|
|
|
|
| |
|
Siam Cement PCL NVDR |
|
95,300 |
|
1,080 |
| |
|
|
|
|
|
|
| |
|
Oil, Gas & Consumable Fuels |
|
|
|
|
| |
|
Banpu PCL |
|
27,650 |
|
352 |
| |
|
|
|
|
|
|
| |
|
Real Estate Management & Development |
|
|
|
|
| |
|
Land and Houses PCL NVDR |
|
5,249,500 |
|
1,552 |
| |
|
|
|
|
|
5,666 |
| |
|
United States (0.2%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Distributors |
|
|
|
|
| |
|
Li & Fung Ltd. (a) |
|
398,000 |
|
617 |
| |
|
Total Common Stocks (Cost $282,651) |
|
|
|
295,379 |
| |
|
|
|
|
|
|
| |
|
Participation Notes (0.4%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
China (0.4%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Software |
|
|
|
|
| |
|
UBS AG, UFIDA Software Co., Ltd., Class A, Equity Linked Notes, Zero Coupon, 9/30/13 (Cost $1,880) |
|
605,966 |
|
1,359 |
| |
|
|
|
|
|
|
| |
|
Short-Term Investment (3.1%) |
|
|
|
|
| |
|
|
|
|
|
|
| |
|
Investment Company (3.1%) |
|
|
|
|
| |
|
Morgan Stanley Institutional Liquidity Funds - Money Market Portfolio - Institutional Class (c) (Cost $9,595) |
|
9,594,819 |
|
9,595 |
| |
|
Total Investments (99.6%) (Cost $294,126) + |
|
|
|
306,333 |
| |
|
Other Assets in Excess of Liabilities (0.4%) |
|
|
|
1,130 |
| |
|
Net Assets (100.0%) |
|
|
|
$ |
307,463 |
|
|
(a) |
Security trades on the Hong Kong exchange. |
|
(b) |
Non-income producing security. |
|
(c) |
The Fund invests in the Morgan Stanley Institutional Liquidity Funds - Money Market Portfolio - Institutional Class (the “Liquidity Funds”), an open-end management investment company managed by the Adviser. Advisory fees paid by the Fund are reduced by an amount equal to the advisory and administrative service fees paid by the Liquidity Funds with respect to assets invested by the Fund in the Liquidity Funds. |
|
+ |
At September 30, 2012, the U.S. Federal income tax cost basis of investments was approximately $294,126,000 and, accordingly, net unrealized appreciation for U.S. Federal income tax purposes was approximately $12,207,000 of which approximately $42,737,000 related to appreciated securities and approximately $30,530,000 related to depreciated securities. |
|
@ |
Value is less than $500 |
|
NVDR |
Non-Voting Depositary Receipt. |
Morgan Stanley Asia-Pacific Fund, Inc.
Notes to the Portfolio of Investments · September 30, 2012 (unaudited)
Security Valuation: Securities listed on a foreign exchange are valued at their closing price, except as noted below. Unlisted securities and listed securities not traded on the valuation date for which market quotations are readily available are valued at the mean between the last reported bid and ask prices. Equity securities listed on a U.S. exchange are valued at the latest quoted sales price on the valuation date. Equity securities listed or traded on NASDAQ, for which market quotations are available, are valued at the NASDAQ Official Closing Price. Short-term debt securities purchased with remaining maturities of 60 days or less are valued at amortized cost, unless the Fund’s Board of Directors (the “Directors”) determines such valuation does not reflect the securities’ fair value, in which case these securities will be valued at their fair value as determined in good faith under procedures adopted by the Directors.
Under procedures approved by the Directors, the Fund’s adviser, Morgan Stanley Investment Management Inc. (the “Adviser”), has formed a Valuation Committee. The Valuation Committee provides administration and oversight of the Fund’s valuation policies and procedures, which are reviewed at least annually by the Directors. Among other things, these procedures allow the Fund to utilize independent pricing services, quotations from securities and financial instrument dealers, and other market sources to determine fair value.
The Fund has procedures to determine the fair value of securities and other financial instruments for which market prices are not readily available. Under these procedures, the Valuation Committee convenes on a regular and adhoc basis to review such securities and considers a number of factors, including valuation methodologies and significant unobservable valuation inputs, when arriving at fair value. The Valuation Committee may employ a market-based approach which may use related or comparable assets or liabilities, recent transactions, market multiples, book values, and other relevant information for the investment to determine the fair value of the investment. An income-based valuation approach may also be used in which the anticipated future cash flows of the investment are discounted to calculate fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Due to the inherent uncertainty of valuations of such investments, the fair values may differ significantly from the values that would have been used had an active market existed. The Valuation Committee employs various methods for calibrating these valuation approaches including a regular review of valuation methodologies, key inputs and assumptions, transactional back-testing or disposition analysis, and reviews of any related market activity.
Most foreign markets close before the New York Stock Exchange (“NYSE”). Occasionally, developments that could affect the closing prices of securities and other assets may occur between the times at which valuations of such securities are determined (that is, close of the foreign market on which the securities trade) and the close of business on the NYSE. If these developments are expected to materially affect the value of the securities, the valuations may be adjusted to reflect the estimated fair value as of the close of the NYSE, as determined in good faith under procedures established by the Directors.
Fair Value Measurement: Financial Accounting Standards Board (“FASB”) Accounting Standards CodificationTM (“ASC”) 820, “Fair Value Measurements and Disclosures” (“ASC 820”), defines fair value as the value that the Fund would receive to sell an investment or pay to transfer a liability in a timely transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. ASC 820 establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in valuing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in valuing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value
measurements for disclosure purposes. Various inputs are used in determining the value of the Fund’s investments. The inputs are summarized in the three broad levels listed below.
· Level 1 — unadjusted quoted prices in active markets for identical investments
· Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
· Level 3 — significant unobservable inputs including the Fund’s own assumptions in determining the fair value of investments. Factors considered in making this determination may include, but are not limited to, information obtained by contacting the issuer, analysts, or the appropriate stock exchange (for exchange-traded securities), analysis of the issuer’s financial statements or other available documents and, if necessary, available information concerning other securities in similar circumstances
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each security.
The following is a summary of the inputs used to value the Fund’s investments as of September 30, 2012.
|
Investment Type |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
| ||||
|
Assets: |
|
|
|
|
|
|
|
|
| ||||
|
Common Stocks |
|
|
|
|
|
|
|
|
| ||||
|
Aerospace & Defense |
|
$ |
535 |
|
$ |
— |
|
$ |
— |
|
$ |
535 |
|
|
Air Freight & Logistics |
|
1,284 |
|
— |
|
— |
|
1,284 |
| ||||
|
Airlines |
|
720 |
|
1,158 |
|
— |
|
1,878 |
| ||||
|
Auto Components |
|
2,775 |
|
— |
|
— |
|
2,775 |
| ||||
|
Automobiles |
|
29,390 |
|
— |
|
— |
|
29,390 |
| ||||
|
Beverages |
|
949 |
|
— |
|
— |
|
949 |
| ||||
|
Biotechnology |
|
68 |
|
— |
|
— |
|
68 |
| ||||
|
Building Products |
|
4,222 |
|
— |
|
— |
|
4,222 |
| ||||
|
Capital Markets |
|
9,965 |
|
— |
|
— |
|
9,965 |
| ||||
|
Chemicals |
|
4,665 |
|
— |
|
— |
|
4,665 |
| ||||
|
Commercial Banks |
|
50,301 |
|
2,632 |
|
— |
|
52,933 |
| ||||
|
Computers & Peripherals |
|
3,390 |
|
— |
|
— |
|
3,390 |
| ||||
|
Construction & Engineering |
|
5,170 |
|
— |
|
— |
|
5,170 |
| ||||
|
Construction Materials |
|
4,173 |
|
— |
|
— |
|
4,173 |
| ||||
|
Distributors |
|
1,099 |
|
— |
|
— |
|
1,099 |
| ||||
|
Diversified Financial Services |
|
7,266 |
|
— |
|
— |
|
7,266 |
| ||||
|
Diversified Telecommunication Services |
|
3,947 |
|
— |
|
— |
|
3,947 |
| ||||
|
Electrical Equipment |
|
1,004 |
|
— |
|
— |
|
1,004 |
| ||||
|
Electronic Equipment, Instruments & Components |
|
5,839 |
|
— |
|
— |
|
5,839 |
| ||||
|
Energy Equipment & Services |
|
2,229 |
|
— |
|
— |
|
2,229 |
| ||||
|
Food & Staples Retailing |
|
6,001 |
|
— |
|
— |
|
6,001 |
| ||||
|
Food Products |
|
9,090 |
|
— |
|
— |
|
9,090 |
| ||||
|
Health Care Providers & Services |
|
1,778 |
|
— |
|
— |
|
1,778 |
| ||||
|
Hotels, Restaurants & Leisure |
|
672 |
|
— |
|
— |
|
672 |
| ||||
|
Household Durables |
|
2,045 |
|
— |
|
— |
|
2,045 |
| ||||
|
Industrial Conglomerates |
|
4,533 |
|
— |
|
— |
|
4,533 |
| ||||
|
Information Technology Services |
|
1,460 |
|
— |
|
— |
|
1,460 |
| ||||
|
Insurance |
|
22,227 |
|
— |
|
— |
|
22,227 |
| ||||
|
Internet Software & Services |
|
3,206 |
|
— |
|
— |
|
3,206 |
| ||||
|
Machinery |
|
12,570 |
|
— |
|
— |
|
12,570 |
| ||||
|
Marine |
|
5,225 |
|
— |
|
— |
|
5,225 |
| ||||
|
Media |
|
3,299 |
|
— |
|
— |
|
3,299 |
| ||||
|
Metals & Mining |
|
8,120 |
|
— |
|
— |
|
8,120 |
| ||||
|
Oil, Gas & Consumable Fuels |
|
2,778 |
|
352 |
|
— |
|
3,130 |
| ||||
|
Personal Products |
|
1,262 |
|
— |
|
— |
|
1,262 |
| ||||
|
Pharmaceuticals |
|
2,520 |
|
— |
|
— |
|
2,520 |
| ||||
|
Real Estate Management & Development |
|
21,899 |
|
— |
|
— |
|
21,899 |
| ||||
|
Semiconductors & Semiconductor Equipment |
|
22,966 |
|
— |
|
— |
|
22,966 |
| ||||
|
Software |
|
5,191 |
|
— |
|
— |
|
5,191 |
| ||||
|
Specialty Retail |
|
8,191 |
|
— |
|
— |
|
8,191 |
| ||||
|
Textiles, Apparel & Luxury Goods |
|
1,649 |
|
— |
|
— |
|
1,649 |
| ||||
|
Tobacco |
|
2,359 |
|
— |
|
— |
|
2,359 |
| ||||
|
Transportation Infrastructure |
|
783 |
|
— |
|
— |
|
783 |
| ||||
|
Wireless Telecommunication Services |
|
2,422 |
|
— |
|
— |
|
2,422 |
| ||||
|
Total Common Stocks |
|
291,237 |
|
4,142 |
|
— |
|
295,379 |
| ||||
|
Participation Notes |
|
— |
|
1,359 |
|
— |
|
1,359 |
| ||||
|
Short-Term Investment - Investment Company |
|
9,595 |
|
— |
|
— |
|
9,595 |
| ||||
|
Total Assets |
|
$ |
300,832 |
|
$ |
5,501 |
|
$ |
— |
|
$ |
306,333 |
|
Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. The Fund recognizes transfers between the levels as of the end of the period. As of September 30, 2012, securities with a total value of approximately $1,510,000 transferred from Level 1 to Level 2. Securities that were valued using unadjusted quoted prices at December 31, 2011 were valued using other significant observable inputs at September 30, 2012.
Item 2. Controls and Procedures.
(a) The Fund’s principal executive officer and principal financial officer have concluded that the Fund’s disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Fund in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, based upon such officers’ evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.
(b) There were no changes in the Fund’s internal control over financial reporting that occurred during the registrant’s fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Fund’s internal control over financial reporting.
Item 3. Exhibits.
(a) A separate certification for each principal executive officer and principal financial officer of the registrant are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
Morgan Stanley Asia-Pacific Fund, Inc. |
|
|
|
|
|
/s/ Arthur Lev |
|
|
Arthur Lev |
|
|
Principal Executive Officer |
|
|
November 15, 2012 |
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
/s/ Arthur Lev |
|
|
Arthur Lev |
|
|
Principal Executive Officer |
|
|
November 15, 2012 |
|
|
|
|
|
/s/ Francis Smith |
|
|
Francis Smith |
|
|
Principal Financial Officer |
|
|
November 15, 2012 |
|
Exhibit 99.CERT
CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER
I, Arthur Lev, certify that:
1. I have reviewed this report on Form N-Q of Morgan Stanley Asia-Pacific Fund, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Omitted;
(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date: November 15, 2012 |
/s/ Arthur Lev |
|
|
Arthur Lev |
|
|
Principal Executive Officer |
CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER
I, Francis Smith, certify that:
1. I have reviewed this report on Form N-Q of Morgan Stanley Asia-Pacific Fund, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Omitted;
(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date: November 15, 2012 |
/s/ Francis Smith |
|
|
Francis Smith |
|
|
Principal Financial Officer |