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Aberdeen Asia-Pacific Income Fund, Inc. (NYSE MKT: FAX)
- (EDT)
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At close May 23, 2013
| NAV | $7.42 |
| Price | $7.29 |
| Premium/(Discount) | -1.75% |
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.
Aberdeen Insights: Views from the Front Lines of Asia
View highlights of our live roundtable with Hugh Young, Aberdeen’s Managing Director and Head of Equities, and Anthony Michael, Aberdeen’s Head of Fixed Income Asia-Pacific, as they discuss their views on opportunities in the Asia region. To view the full replay, visit our Aberdeen Insights channel
Click to read disclaimerFund Managers’ Monthly Report
March 2013
- Asian local currency bonds rose in February owing to renewed investor risk aversion. In the U.S., there were concerns over lackluster economic data, looming spending cuts, and how long the Federal Reserve would continue its bond-buying program. Eurozone growth remained fragile despite German resilience, while the Italian government election was inconclusive as no party gained a majority.
- In Asia, China imposed more curbs to cool its property sector. Fourth-quarter gross domestic product (GDP) across most of the region. Central banks kept policy on hold amid stable inflation.
- Bonds in higher-yielding markets, such as the Philippines and Indonesia, outperformed their regional peers, whereas Hong Kong and Singapore weakened in tandem with U.S. Treasuries.
- Asian currencies closed mixed against the U.S. dollar. The Indonesian rupiah was the best performer, driven by foreign demand for Indonesian assets. But the Indian rupee lagged, as investors were disappointed by a budget that fell short on structural reforms.
- Australian bond yields fell across the curve, as weaker economic data raised the likelihood of policy easing. The Australian dollar lost ground against the U.S. dollar. Credit markets modestly outperformed government bonds. Tighter credit spreads for corporate issues were offset by wider interest rate swap spreads versus Commonwealth bonds, leaving excess returns driven mostly by the relatively higher yields.
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