Welcome!

News Feed Item

Aberdeen Global Income Fund, Inc. Announces Performance Data And Portfolio Composition

PHILADELPHIA, Jan. 7, 2013 /PRNewswire/ -- Aberdeen Global Income Fund, Inc. (the "Fund") (NYSE MKT: FCO), a closed-end bond fund, announced today its performance data and portfolio composition as of November 30, 2012.

The Fund's total returns for various periods through November 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

(March 1992)

456.7

8.6

415.9

8.2

10-years

186.4

11.1

217.0

12.2

5-years

59.2

9.7

75.2

11.9

3-years

42.7

12.6

34.2

10.3

1-year

11.9

7.4

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 November 30, 2012, the portfolio was invested as follows:


Currency Exposure %  *

Geographic Exposure %

Australia

22.9

22.2

United Kingdom

9.5

12.2

Canada

11.3

11.8

New Zealand

15.8

19.7




United States **

30.9

1.3




Europe (ex UK)

3.2

10.6

Asia

0.9

4.0

Emerging Markets

5.5

18.2

*Currency allocations include impact of all foreign forward currency exchange contracts.              **Of which 21.2% is invested in US$ denominated bonds issued by foreign issuers.

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

Holding

Coupon / Maturity

(%)

United Kingdom Gilt

4.25%, 12/07/49

7.4

Australia Government Bond

5.75%, 07/15/22

5.5

New Zealand Government Bond

5.50%, 04/15/23

4.8

New Zealand Government Bond

6.00%, 05/15/21

4.8

New Zealand Government Bond

6.00%, 04/15/15

3.8

United Kingdom Gilt

8.00%, 12/07/15

3.6

Australian Government Bond

5.75%, 05/15/21

3.4

Treasury Corporation of Victoria

5.75%, 11/15/16

2.3

Canadian Government Bond

9.00%, 06/01/25

2.2

Australia Government Bond

5.50%, 04/21/23

2.2

TOTAL


40.0

As of November 30, 2012 the holdings of the portfolio represented approximately 78.7% sovereign and state government securities, 17.8% corporates, 2.8% supranationals and 0.7% cash. 

As of November 30, 2012, the Fund's net assets, including US$40 million in bank borrowing, amounted to US$168.5 million with a net asset value per share of common stock of US$13.92.

As of November 30, 2012, 64.0% 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

CCC

44.7

12.4

6.9

20.6

8.9

6.2

0.3

 

Maturity (%)

<3 Years

3-5 Years

5-10 Years

>10 Years

19.3

17.8

35.2

27.7

As of November 30, 2012, the average maturity of the portfolio was 9.8 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 November 30, 2012 is US$40,000,000, 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 emerging market 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 Global Income Fund, Inc. that contains this and other information about the fund may be obtained by calling 866-839-5233. Please read the prospectus carefully before investing. Investing in funds involves risk, including possible loss of principal.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's 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 the 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 March 12, 1992.

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

SOURCE Aberdeen Global 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
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
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?
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Back in February of 2017, Andrew Clay Schafer of Pivotal tweeted the following: “seriously tho, the whole software industry is stuck on deployment when we desperately need architecture and telemetry.” Intrigue in a 140 characters. For me, I hear Andrew saying, “we’re jumping to step 5 before we’ve successfully completed steps 1-4.”
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...