UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-05984
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THE NEW IRELAND FUND, INC.
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(Exact name of registrant as specified in charter)
Bank of Ireland Asset Management (U.S.) Limited
75 Holly Hill Lane
GREENWICH, CT 06830
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(Address of principal executive offices) (Zip code)
PFPC Inc.
99 High Street, 27th Floor
BOSTON, MA 02110
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(Name and address of agent for service)
Registrant's telephone number, including area code: (203) 869-0111
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Date of fiscal year end: OCTOBER 31, 2004
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Date of reporting period: JULY 31, 2004
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Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of
this chapter), to file reports with the Commission, not later than 60 days after
the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use
the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington,
DC 20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
The Schedule of Investments is attached herewith.
THE NEW IRELAND FUND, INC.
PORTFOLIO HOLDINGS (UNAUDITED)
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July 31, 2004 Shares Value (U.S.)
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COMMON STOCKS (99.09%)
COMMON STOCKS OF IRISH COMPANIES (96.54%)
BUSINESS SERVICES (5.06%)
DCC PLC 250,000 $ 4,349,266
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COMPUTER SOFTWARE AND SERVICES (0.63%)
IONA Technologies PLC-ADR* 169,300 538,374
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CONSTRUCTION AND BUILDING MATERIALS (21.27%)
CRH PLC 504,637 11,300,564
Grafton Group PLC-UTS 380,820 3,071,869
Kingspan Group PLC 675,707 3,904,880
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18,277,313
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DIVERSIFIED FINANCIAL SERVICES (3.99%)
Irish Life & Permanent PLC 226,707 3,430,902
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FINANCIAL (20.03%)
Allied Irish Banks PLC 879,951 13,549,932
FBD Holdings PLC 202,314 3,665,815
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17,215,747
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FOOD AND AGRICULTURE (3.14%)
IAWS Group PLC 227,619 2,702,051
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FOOD AND BEVERAGES (14.86%)
Fyffes PLC 467,400 973,516
Greencore Group PLC 352,568 1,209,751
Kerry Group PLC, Series A 511,857 10,587,170
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12,770,437
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HEALTH CARE SERVICES (7.67%)
ICON PLC-ADR* 71,646 2,647,320
United Drug PLC 1,129,687 3,944,248
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6,591,568
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LEISURE AND HOTELS (7.23%)
Jury's Doyle Hotel Group PLC 291,464 3,789,804
Paddy Power PLC 202,495 2,425,747
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6,215,551
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1
THE NEW IRELAND FUND, INC.
PORTFOLIO HOLDINGS (UNAUDITED) (CONTINUED)
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July 31, 2004 Shares Value (U.S.)
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COMMON STOCKS OF IRISH COMPANIES (CONTINUED)
PUBLISHING AND NEWS (1.95%)
Independent News & Media PLC 732,313 $ 1,675,168
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TECHNOLOGY (1.76%)
Horizon Technology Group PLC* 1,321,900 1,511,925
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TELECOMMUNICATIONS (3.20%)
Eircom Group PLC-144Aa* 400,000 688,659
Spectel PLC++
(8/4/00, 11/22/00,11/30/01-Cost $2,699,475) 1,800,248 2,059,036
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2,747,695
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TRANSPORTATION (4.10%)
Ryanair Holdings PLC* 650,000 3,521,551
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UTILITY/PUBLIC SERVICES (1.65%)
NTR PLC+
(6/14/02-Cost $918,234) 98,132 1,417,751
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TOTAL COMMON STOCKS OF IRISH COMPANIES
(Cost $43,764,668) 82,965,299
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COMMON STOCKS OF UNITED KINGDOM COMPANIES (2.55%)
(Cost U.S. $2,166,754)
PHARMACEUTICALS (2.55%)
Warner Chilcott PLC 201,154 2,194,726
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TOTAL INVESTMENT COMPANIES BEFORE FOREIGN CURRENCY
ON DEPOSIT
(Cost $45,931,422) $ 85,160,025
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2
THE NEW IRELAND FUND, INC.
PORTFOLIO HOLDINGS (UNAUDITED) (CONTINUED)
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July 31, 2004 Shares Value (U.S.)
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FOREIGN CURRENCY ON DEPOSIT (0.69%)
(Interest Bearing)
British Pounds Sterling (POUND STERLING) 426 $ 775
Euro (EURO) 493,707 594,398
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TOTAL FOREIGN CURRENCY ON DEPOSIT
(Cost $601,311)** 595,173
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TOTAL INVESTMENTS (99.78%)
(Cost $46,532,733) 85,755,198
OTHER ASSETS AND LIABILITIES (0.22%) 185,377
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NET ASSETS (100.00%)
$ 85,940,575
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a Security exempt from registration pursuant to Rule 144A under the
Securities Act of 1933, as amended.
* Non-income producing security.
** Foreign currency held on deposit at the Bank of Ireland.
+ Not readily marketable. Dates represent acquisition date.
++ Not readily marketable and non-income producing security. Dates represent
acquisition date.
ADR -American Depository Receipt traded in U.S. dollars
UTS -Units
3
ITEM 2. CONTROLS AND PROCEDURES.
(a) The registrant's principal executive and principal financial officers,
or persons performing similar functions, have concluded that the
registrant's disclosure controls and procedures (as defined in Rule
30a-3(c) under the Investment Company Act of 1940, as amended (the
"1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within
90 days of the filing date of the report that includes the disclosure
required by this paragraph, based on their evaluation of these controls
and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR
270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities
Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or
240.15d-15(b)).
(b) There were no changes in the registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17
CFR 270.30a-3(d)) that occurred during the registrant's last fiscal
quarter that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial
reporting.
ITEM 3. EXHIBITS.
Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of
the Sarbanes-Oxley Act of 2002 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.
(Registrant) THE NEW IRELAND FUND, INC.
By (Signature and Title)* /S/ DENIS CURRAN
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Denis Curran, President
(principal executive officer)
Date AUGUST 19, 2004
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /S/ DENIS CURRAN
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Denis Curran, President
(principal executive officer)
Date AUGUST 19, 2004
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By (Signature and Title)* /S/ LELIA LONG
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Lelia Long, Treasurer
(principal financial officer)
Date AUGUST 19, 2004
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* Print the name and title of each signing officer under his or her signature.