# Aberdeen Asia-Pacific Income Fund, Inc. (NYSE MKT: FAX)
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Daily Data

At close Sep 16, 2014

Market Price$6.00

The NAV information is provided by the Fund's accounting agent. The price is as reported by the exchange on which the Fund trades. This information is unaudited and neither Aberdeen Asset Management PLC, its wholly owned subsidiaries, the Funds, nor any other person guarantees their accuracy.


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Aberdeen Asia-Pacific Income Fund, Inc. (NYSE MKT: FAX)

Investment Objective

The Fund’s investment objective is to seek current income. The Fund may also achieve incidental capital appreciation. The Fund will seek to achieve its investment objective through investment in Australian and Asian debt securities.

For more detailed information on the specific risks associated with this fund, please view the Important Risk Considerations tab.

Investing in Asia Pacific

Fund Manager Interview

Adam McCabe, Head of Asian Fixed Income, discusses why we believe Asia’s fundamentals remain robust, with rising incomes and an expanding middle class underpinning domestic demand.

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Aberdeen Asia-Pacific Income Fund, Inc. Webcast Update

In this webcast update, Adam McCabe covers the Aberdeen Asia-Pacific Income Fund, Inc. and speaks to the structural factors that have impacted markets. Adam also speaks to recent fund performance, where he and the team are finding fixed income opportunities and provides an outlook on the region.

Important Information


Fund Managers’ Monthly Report

July 2014

  • Asian fixed income markets were resilient in July despite geopolitical flashpoints in Ukraine and the Middle East. Financial contagion fears resurfaced in Europe after missed debt payments by a company linked to Portugal’s second-largest lender. All this was set against an improving global growth backdrop, with positive data from China and the U.S. Philippine policymakers raised the benchmark interest rate in a bid to stave off elevated inflation, while Malaysia’s central bank tightened monetary policy to address financial imbalances.
  • In politics, Joko Widodo was declared the seventh president of Indonesia. The Thai military junta proposed a charter, endorsed by the King, which will result in an interim government and grant the regime amnesty.
  • For local currency bond markets in Korea, Malaysia and Thailand, yields fell faster at the longer end of the curve in a “bull-flattening.” In China, the curve “bear-steepened” and shifted higher on the back of better secondquarter growth, which led the market to expect some monetary tightening.
  • Short-term bonds weakened in Indonesia, as investors were cautious ahead of the election results towards month-end. There was also short-end selling in the Philippines, given expectations that the central bank would tighten policy at its July 31 meeting. As anticipated, policymakers raised the benchmark interest rate by 25 basis points from a record low of 3.5%.
  • Most regional currencies strengthened against the U.S. dollar, except for the Korean won, Indian rupee and Taiwan dollar.
  • Australian bond yields were volatile, with the sell-off in the latter part of the month most pronounced for shortdated bonds, whereas 10-year yields ended slightly lower. Economic data suggested that growth was moderate, while various core Consumer Price Index1 measures indicated that underlying inflation was close to the upper end of the central bank’s target of 2-3%.

1 The Consumer Price Index is a measure of the change in the weighted average prices of a basket of consumer goods and services, such as transportation, food and medical care.

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