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Aberdeen Global Income Fund, Inc. (NYSE MKT: FCO)
- (EDT)
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At close May 23, 2013
| NAV | $13.21 |
| Price | $13.03 |
| Premium/(Discount) | -1.36% |
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 Global Income Fund, Inc. (NYSE MKT: FCO)*
Investment Objective
The Fund’s principal investment objective is to provide high current income by investing primarily in fixed income securities. As a secondary investment objective, the Fund seeks capital appreciation, but only when consistent with its principal investment objective.
For more detailed information on the specific risks associated with this fund, please view the Important Risk Considerations tab.
Fund Managers’ Monthly Report
March 2013
- Global fixed income markets closed with mixed performance in February, as risk appetite weakened following an inconclusive Italian election. U.S. 10-year Treasury yields fell by more than 10 basis points (bps) to 1.88%, after the Federal Reserve reiterated its commitment to buying government bonds.
- In developed markets, Australian bond yields fell across the curve, as weaker economic data raised the likelihood of monetary policy easing. However, New Zealand bond yields rose, given that positive retail sales, manufacturing activity and confidence indicators signalled an accelerating recovery.
- Bonds rallied in Canada after economic growth stagnated in the fourth quarter, while 10-year UK yields also fell in view of sluggish consumer spending and signs of slower manufacturing activity ahead.
- Emerging market debt posted modest losses. The JPMorgan EMBI Global Diversified Index fell 0.31% and the benchmark spread widened by 21 bps to 283 bps over 10-year U.S. Treasuries. Venezuela and Ukraine outperformed, whereas Argentina fared the worst. In local currency debt, Indonesia and Nigeria performed well, but Hungary and Poland lagged the overall market.
- Currency markets remained volatile, as the U.S. dollar appreciated against most of its G10 nation peers. The British pound sterling weakened after Moody’s downgraded Britain’s credit rating by one notch to Aa1, while the performance of the euro lagged.
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