# Aberdeen Australia Equity Fund, Inc. (NYSE MKT: IAF)
» Closed-End Fund Center
Keep Updated

Daily Data

At close Feb 26, 2015

Market Price$7.41
Unadjusted NAV**$8.00

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.


Request Information

If you require further information on any of our Closed-End Funds:


Email Us





Aberdeen Australia Equity Fund, Inc. (NYSE MKT: IAF)

Investment Objective

The Fund’s principal investment objective is long-term capital appreciation through investment primarily in equity securities of Australian companies listed on the Australian Stock Exchange Limited (“ASX”). The Fund’s secondary investment objective is current income.

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


Fund Managers’ Monthly Report

December 2014

  • Australian equities rose in local currency terms in December but fell in U.S. dollar terms. The worst-performing sector was consumer discretionary, where the lower oil price failed to generate spending over the pre-Christmas trading period. This was closely followed by the energy sector, for which the Organization of Petroleum Exporting Countries’ (OPEC) aggressive bid to maintain market share and China’s tepid economic forecast led to a sustained decline in commodity prices, particularly oil. A late rally helped to pare losses.
  • In economic news, the nation’s unemployment rate edged up to 6.3% in November, its highest level in more than 12 years. Economic growth was also weak: third-quarter gross domestic product (GDP) growth came in at 0.3%, missing market expectations.
  • On the monetary policy front, the Reserve Bank of Australia held its benchmark interest rate unchanged in December, completing an entire calendar year of inactivity.
  • During the month, we initiated a position in Australia’s largest telecommunication services provider, Telstra, given its dominant market position and after it clinched a new National Broadband Network deal with the federal government. We also added to the holding in shopping mall operator Scentre Group after our positive meeting with management in November. We funded these purchases by exiting the position in industrial equipment maker Orica, which faces longer-term challenges in its core Australian market, given weak demand and potential for significant margin pressure. We also reduced the Fund’s exposure to retailer Woolworths because of the risk of increasing competition across its core food business, which may potentially hurt its future profitability.
Download Monthly Commentary
Download Monthly Factsheet
Sign Up

To receive this, or any other monthly fund factsheet directly in your inbox, sign up for our email services.

Full investment objective, investment policies and investment restrictions Section 16 Filings


Pursuant to valuation policies adopted by the Board of Directors of the Fund, the Fund values foreign equity securities that primarily trade in certain markets that close ahead of the Fund’s daily 4:00 pm Eastern net asset value (“NAV”) calculation time at their fair values using prices provided by third-party independent pricing services. The fair value of each such security generally is calculated by applying a valuation factor provided by the independent pricing service to the last sales price for that security, or, if, the pricing service is unable to provide a fair value for a security, at the price at the close of the exchange on which it is principally traded, subject to adjustment by the Fund’s Pricing Committee. These daily fair valuations seek to reflect information available after the local market close that may affect the value of the foreign equity securities held by the Fund. As a result, this official NAV calculation reflects adjustments that may cause it to vary from a calculation based solely on closing prices. In contrast, the “Unadjusted NAV” of the Fund (shown above) is for informational purposes only and is computed using the closing prices on the relevant exchange. It does not reflect any daily fair valuation adjustments of the Fund’s foreign securities. The Unadjusted NAV does not represent the official NAV of the Fund, nor is the Unadjusted NAV used for Fund accounting or performance purposes. Investors should not rely upon the Unadjusted NAV when making their investment decisions.

Useful Links