At close Nov 26, 2014
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)
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.
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.
Full investment objective, investment policies and investment restrictions
Section 16 Filings
Fund Managers’ Monthly Report
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- It was a weak September for Asian bond markets and currencies, as the prospect of tighter U.S. monetary policy
quelled appetite for emerging-market assets and buoyed the U.S. dollar. In addition, geopolitical risks in Ukraine
and the Middle East, as well as economic weakness in China and Europe, clouded the still uncertain global recovery.
- In China, a sluggish property market, slowing credit growth and weak industrial production deepened investor
concerns. But Premier Li Keqiang ruled out any major stimulus and emphasized targeted measures to buttress
weaker sectors instead. Fresh measures included the provision of 500 billion yuan (roughly US$81.5 billion) in
liquidity to the top five domestic lenders and the loosening of mortgage rules. Onshore bonds were among the
best regional performers, while the yuan was resilient.
- Indian bonds posted gains but the rupee lost ground as inflation started to ease, the current account deficit
narrowed, and the government undertook bond buybacks worth almost 130 billion rupees (about US$2.1 billion).
Rating agency Standard & Poor’s also upgraded the country’s credit outlook from negative to stable. Another good
performer was the Korean bond market, underpinned by expectations of an interest rate cut.
- In contrast, longer-dated bonds in Hong Kong and Singapore tracked U.S. Treasury weakness. The Indonesian
Parliament passed a law scrapping direct local elections. This hurt the rupiah and domestic bonds.
- Australian bonds weakened in volatile trading, led by longer-term bonds. The domestic economy expanded
0.5% in the second quarter. Consumer confidence and business conditions softened but the jobless rate fell in
September. The central bank reaffirmed its neutral stance by leaving its benchmark interest rate unchange
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