Aberdeen Asia-Pacific Income Fund, Inc. Announces Performance Data And Portfolio Composition - KMPH FOX 26 | Central San Joaquin Valley News Source

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

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SOURCE Aberdeen Asia-Pacific Income Fund, Inc.

PHILADELPHIA, July 2, 2014 /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 May 31, 2014.

Aberdeen Asset Management Inc. At Aberdeen, asset management is our business. We only manage assets for clients, allowing us to focus solely on their needs and deliver independent, objective investment advice. We know global markets from the local level upwards, drawing on more than 1,900 staff, across 32 offices in 23 countries. Investment teams are based in the markets or regions where they invest, delivering local perspective in a global investment environment.

The Fund's total returns for various periods through May 31, 2014 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)

999.3

8.9

905.9

8.6

10-years

120.9

8.3

111.5

7.8

5-years

57.9

9.6

54.2

9.0

3-years

7.1

2.3

2.7

0.9

1-year

0.9

-0.2

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 May 31, 2014, the portfolio was invested as follows:


Currency Exposure %

Geographic Exposure %

Australia

42.5

40.2

New Zealand

0.2

0.1




Canada

-

0.4

United States*

40.8

1.1




United Kingdom

-

1.0

Norway

-

0.8

Germany

-

1.6




South Korea

3.2

10.4

Philippines

1.1

4.5

Malaysia

1.3

4.7

Singapore

-

1.9

Thailand

0.3

4.5

Hong Kong

-

5.8

Indonesia

1.6

6.7

China

4.1

11.1

India

4.2

4.2

Sri Lanka

0.7

1.0

* Of which 37.2% invested in US$ denominated bonds issued by foreign issuers.

As of May 31, 2014, the top ten holdings of the portfolio based on total assets were as follows:

Holding

Coupon / Maturity

(%)

Australia Government Bond

4.50%, 10/21/2014

6.2

Treasury Corporation of Victoria

5.75%, 11/15/2016

5.5

Australia Government Bond

6.25%, 04/15/2015

2.8

Australia Government Bond

4.50%, 04/21/2033

2.4

Queensland Treasury Corporation

6.25%, 06/14/2019

2.1

Australia Government Bond

5.50%, 04/21/2023

1.8

Australia Government Bond

5.75%, 07/15/2022

1.6

Treasury Corporation of Victoria

6.00%, 10/17/2022

1.6

Queensland Treasury Corporation

6.00%, 06/14/2021

1.4

India Government Bond

7.28%, 06/03/2019

1.3

TOTAL


26.7

As of May 31, 2014 the holdings of the portfolio represented approximately 54.4% sovereign and state government securities, 38.7% corporates, 5.2% supranationals, 0.3% mortgage backed securities and 1.4% cash.

As of May 31, 2014, the Fund's net assets, including $600 million in leverage, amounted to US$2,398.8 million with a net asset value per share of US$6.82.

As of May 31, 2014, 66.9% of the portfolio was invested in securities where either the issue or the issuer was rated "A" or better by multiple rating agencies.  The credit quality and maturity breakdown of the portfolio was as follows:

Credit Quality (%)

AAA/Aaa

AA/Aa

A

BBB/Baa

BB/Ba

B

NR

34.9

13.6

18.4

16.0

11.6

3.2

2.3

 


Maturity (%)

<3 Years

3-5 Years

5-10 Years

>>10 Years

31.0

17.2

41.9

9.9

As of May 31, 2014, the average maturity of the portfolio was 6.4 years.

The Fund utilizes various forms of leverage as detailed in the Fund's most recent annual reports to shareholders.  The outstanding balance of all leverage as of May 31, 2014 is $600,000,000, which represents no change from the previous month.

As of May 31, 2014, the Fund's leverage consists of $50 million in 10-year privately issued mandatorily redeemable preferred stock, $100 million in 7-year privately placed senior secured notes, $100 million in 10-year privately placed senior secured notes, $100 million in a 3-year term loan, $100 million in a 5-year term loan, and $150 million in a 3-year syndicated revolving credit facility.

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.

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.

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: InvestorRelations@aberdeen-asset.com

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