At close Sep 29, 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 Chile Fund, Inc. (NYSE MKT: CH)
The Fund seeks total return, consisting of capital appreciation and income, by investing primarily in Chilean securities.
For more detailed information on the specific risks associated with this fund, please view the Important Risk Considerations tab.
It is the policy of the Fund to invest its assets in Chilean equity and debt securities. For these purposes, “Chilean securities” means securities traded principally on stock exchanges in Chile.
The information contained above provides only a brief summary description of the Fund's investment objective and investment policies.
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- Chilean equities fell in July, underperforming the broader Latin American asset class largely owing
to a weaker peso. Muted retail sales growth and manufacturing data also dampened investor
- The central bank cut its benchmark interest rate by 25 basis points to 3.75%, citing a decline in
investments and slower consumption.
- In Fund-related corporate news, lenders Santander Chile and Banco de Chile benefited from higher
inflation, which widened their net interest margins. Parque Arauco posted robust revenue growth
despite cost pressure from expanding its portfolio of malls. However, net income was hurt by nonoperating
items. Separately, the mall operator launched a new project in Peru, Megaplaza Pisco,
which is scheduled to open during the fourth quarter at a cost of US$14 million. We think that,
despite its small size, the project is part of the attractive pipeline of projects highlighted by the
company during its capital increase earlier this year.
- Elsewhere, pulp and paper company CMPC closed its corrugated paper plant in Santiago, as part of
its broader restructuring plan which involves selling assets and consolidating its operations in
central Chile. We see this as evidence of management’s commitment to improving operational
efficiency and strengthening its balance sheet amid the challenging operating environment.
- There were no major changes to the Fund in July.
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