Welcome!

News Feed Item

Aberdeen Asia-Pacific Income Fund, Inc. Announces Performance Data And Portfolio Composition

PHILADELPHIA, Nov. 6, 2012 /PRNewswire/ -- Aberdeen Asia-Pacific Income Fund, Inc. (the "Fund") (NYSE MKT: FAX), a closed-end bond fund, announced today its performance data and portfolio composition as of September 30, 2012.

(Logo:  http://photos.prnewswire.com/prnh/20121106/NE07292LOGO )

The Fund's total returns for various periods through September 30, 2012 are provided below.  (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):

Period

NAV Total Return %

Market Price Total Return %


Cumulative

Annualized

Cumulative

Annualized

Since Inception

(April 1986)

1,023.9

9.6

1,028.2

9.6

10-years

208.5

11.9

243.1

13.1

5-years

61.2

10.0

76.1

12.0

3-years

43.9

12.9

50.3

14.6

1-year

17.7

19.4

The Fund's returns, which are denominated in U.S. dollars, are affected by the performance of the U.S. dollar against the various currencies listed below.

As of September 30, 2012, the portfolio was invested as follows:


Currency Exposure %

Geographic Exposure %

Australia

44.7

42.2

New Zealand

0.2

0.2




Canada

-

0.1

United States*

36.6

1.1




United Kingdom

-

0.2

Norway

-

0.6

Germany

-

1.0

Netherlands

-

0.6




South Korea

2.6

10.6

Philippines

0.9

6.4

Malaysia

2.5

7.0

Singapore

1.9

3.1

Thailand

2.0

4.4

Hong Kong

0.3

5.0

Indonesia

1.9

6.7

China

5.0

6.2

India

1.4

4.4

Sri Lanka

-

0.2

* Of which 35.2% invested in US$ denominated bonds issued by foreign issuers.

As of September 30, 2012, the top ten holdings of the portfolio based on total assets were as follows:

Holding

Coupon / Maturity

(%)

Treasury Corporation of Victoria

5.75%, 11/15/2016

5.8

Australia Government Bond

5.50%, 01/21/2018

4.6

Australia Government Bond

4.50%, 10/21/2014

4.1

Australia Government Bond

5.75%, 07/15/2022

3.7

Australia Government Bond

4.75%, 11/15/2012

2.5

Australia Government Bond

5.50%, 04/21/2023

2.2

Korean Treasury Bond

3.50%, 03/10/2017

1.9

Queensland Treasury Corporation

6.00%, 06/14/2021

1.5

Queensland Treasury Corporation

6.25%, 06/14/2019

1.3

St. George Bank Ltd.

10.00%, 05/09/2018

1.3

TOTAL


28.9

As of September 30, 2012 the holdings of the portfolio represented approximately 60.6% sovereign and state government securities, 4.2% supranationals, 33.6% corporates, 1.0% cash and 0.6% mortgage backed securities.

As of September 30, 2012, the Fund's net assets, including $600 million in bank borrowing, amounted to US$2,629.5 million with a net asset value per share of US$7.75.

As of September 30, 2012, 69.9% of the portfolio was invested in securities where either the issue or the issuer was rated "A" or better, or judged by the Investment Manager to be of equivalent quality.  The credit quality and maturity breakdown of the portfolio was as follows:

Credit Quality (%)

AAA/Aaa

AA/Aa

A

BBB/Baa

BB/Ba

B

36.5

10.8

22.6

13.0

15.9

1.2

 

Maturity (%)

<3 Years

3-5 Years

5-10 Years

>>10 Years

19.7

23.9

42.2

14.2


As of September 30, 2012, the average maturity of the portfolio was 7.2 years.

The Fund has in place leverage in the form of a syndicated loan facility that renews annually.  The outstanding balance on the loan as of September 30, 2012 is $600,000,000 which represents no change from the previous month. 

The leverage is used with the intent of enhancing returns by borrowing at interest rates that are lower than the relatively higher yields of the Asian-Pacific fixed income securities in which the Fund invests.  The Fund has entered into interest rate swap agreements in order to fix the interest payable on a portion of the bank loan facility.  Details regarding the revolving credit loan facility and the interest rate swap agreements are contained in the Fund's annual and semi-annual reports to shareholders. 

Important Information
Aberdeen Asset Management Inc., the Fund's Administrator, has prepared this report based on information sources believed to be accurate and reliable.  However, the figures are unaudited and neither the Fund, the Administrator, Aberdeen Asset Management Asia Limited (the Investment Manager), Aberdeen Asset Management Limited (the Investment Adviser), Aberdeen Asset Managers Limited (the Sub-Adviser), nor any other person guarantees their accuracy.  Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information.  Aberdeen is a U.S. registered service mark of Aberdeen Asset Management PLC.

Investors should consider a fund's investment objectives, risks, charges and expenses carefully before investing. A copy of the prospectus for Aberdeen Asia-Pacific Income Fund, Inc. that contains this and other information about the fund may be obtained by calling 800-522-5465. Please read the prospectus carefully before investing. Investing in funds involves risk, including possible loss of principal.

Closed-end funds have a one-time initial public offering and then are subsequently traded on the secondary market through one of the stock exchanges. The investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that a fund will achieve its investment objective. Past performance does not guarantee future results.

Total return figures with distributions reinvested at the dividend reinvestment price are stated net-of-fees and represents past performance.  Past performance is not indicative of future results, current performance may be higher or lower.  Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown.  Inception date April 25, 1986.

If you wish to receive this information electronically, please contact: [email protected]

SOURCE Aberdeen Asia-Pacific Income Fund, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities. In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, posited that disruption is inevitable for comp...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Sanjeev Sharma Joins November 11-13, 2018 @DevOpsSummit at @CloudEXPO New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
HyperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let's say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...