At close Sep 30, 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.
If you require further information on any of our Closed-End Funds:
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.
Message from Asian Fixed Income Team
In light of the balance of risks being tilted toward a weaker AUD, we implemented an underweight strategy to the AUD in all of the funds; which we currently hold.
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.
Aberdeen Asia-Pacific Income Fund, Inc. Webcast Update
In this webcast update, Adam McCabe covers the Aberdeen Asia-Pacific Income Fund, Inc. and speaks to the structural factors that have impacted markets. Adam also speaks to recent fund performance, where he and the team are finding fixed income opportunities and provides an outlook on the region.
Full investment objective, investment policies and investment restrictions
Section 16 Filings
Fund Managers’ Monthly Report
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- Asian fixed income markets traded cautiously in August, with weakness in shorter-term bonds, as geopolitical
tensions persisted in Ukraine and the Middle East against a fragile economic backdrop. There were signs of policy
divergence in the West. The U.S. Federal Reserve appeared headed for policy normalization, whereas the European
Central Bank might unveil fresh stimulus, as data continued to disappoint amid heightening deflation risks.
- The longer-end segments of the Hong Kong and Singapore markets strengthened in tandem with the U.S. Treasury
rally. The Chinese bond market saw short-end selling because of tighter liquidity, but long-end bonds were
supported by deepening growth concerns, given weak purchasing managers index (PMI) and credit growth data.
The market trend was similar in Thailand, where the military government consolidated its power as coup leader
General Prayuth Chan-ocha was named prime minister.
- Short-end bonds also lagged in India and Indonesia. India’s central bank cut liquidity ratio requirements for banks
and highlighted inflation risks. In Indonesia, the Constitutional Court upheld Joko Widodo’s election win.
- Philippine intermediate-term bonds sold off following comments from central bank governor Amando Tetangco
over rising inflation amid robust growth. The Korean and Malaysian markets closed flat. The Bank of Korea lowered
its benchmark interest rate by 25 basis points, as generally expected.
- In Australia, wage and job growth was subdued, but elsewhere economic data indicated a modest expansion.
Firmer retail sales underlined the recovery of consumer confidence, while business confidence and conditions also
improved. Nonetheless, long-dated bond yields fell by about 20 basis points (bps) to 3.3% as a result of geopolitical
concerns and European Central Bank policy expectations. Yields in the short-dated segment declined 8 bps to 2.6%,
reflecting the neutral stance of the Reserve Bank of Australia . Domestic semi-government bonds outperformed
supranational bonds, while corporate securities outperformed government bonds amid stable credit spreads.
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