ABRDN ASIA-PACIFIC INCOME FUND INC PHILADELPHIA, May 22, 2015 /PRNewswire/ -- Aberdeen Asia-Pacific Income Fund, Inc. (the "Fund") (NYSE MKT: FAX), a closed-end bond fund, announced today its performance data and portfolio composition as of April 30, 2015.
http://photos.prnewswire.com/prnvar/20121106/NE07292LOGO
The Fund's total returns for various periods through April 30, 2015 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):
Period NAV Total Return % Market Price Total
Return %
------ ----------------- ------------------
Cumulative Annualized Cumulative Annualized
---------- ---------- ---------- ----------
Since
Inception 957.4 8.5 855.8 8.1
(April
1986)
------
10-years 80.9 6.1 75.3 5.8
-------- ---- --- ---- ---
5-years 23.2 4.3 11.2 2.1
------- ---- --- ---- ---
3-years -1.2 -0.4 -10.7 -3.7
------- ---- ---- ----- ----
1-year -2.1 -4.5
------ ---- ----
The Fund's returns, which are denominated in U.S. dollars, are affected by the performance of the U.S. dollar against the various currencies listed below.
As of April 30, 2015, the portfolio was invested as follows:
Currency Exposure % Geographic Exposure %
------------------ --------------------
Australia 38.7 31.9
--------- ---- ----
Supranational - 3.9
------------- --- ---
New
Zealand 0.1 0.1
------- --- ---
Canada - 0.1
------ --- ---
United
States* 39.1 2.7
------- ---- ---
United
Kingdom - 1.0
------- --- ---
Norway - 0.6
------ --- ---
Germany - 2.2
------- --- ---
South
Korea 3.4 7.5
----- --- ---
Philippines 0.9 4.0
----------- --- ---
Malaysia 0.8 2.1
-------- --- ---
Singapore - 2.8
--------- --- ---
Thailand 2.1 6.1
-------- --- ---
Hong
Kong - 4.7
---- --- ---
Indonesia 2.1 7.1
--------- --- ---
China 2.9 14.7
----- --- ----
India 8.7 7.1
----- --- ---
Sri
Lanka 1.2 1.4
----- --- ---
* Of which 40.6% invested in US$ denominated bonds issued by
foreign issuers.
As of April 30, 2015, the top ten holdings of the portfolio based on total assets were as follows:
Holding Coupon / Maturity (%)
------- ----------------- ---
Treasury Corporation of
Victoria 5.75%, 11/15/2016 5.2
----------------------- ----------------- ---
Australia Government Bond 5.50%, 01/21/2018 4.0
------------------------- ----------------- ---
Australia Government Bond 4.50%, 04/21/2033 3.3
------------------------- ----------------- ---
Australia Government Bond 3.75%, 04/21/2037 2.4
------------------------- ----------------- ---
Queensland Treasury
Corporation 6.25%, 06/14/2019 2.0
------------------- ----------------- ---
Australia Government Bond 5.75%, 07/15/2022 1.6
------------------------- ----------------- ---
Treasury Corporation of
Victoria 6.00%, 10/17/2022 1.6
----------------------- ----------------- ---
India Government Bond 8.12%, 12/10/2020 1.4
--------------------- ----------------- ---
Queensland Treasury
Corporation 6.00%, 06/14/2021 1.4
------------------- ----------------- ---
Australia Government Bond 3.25%, 04/21/2025 1.3
------------------------- ----------------- ---
TOTAL 24.2
----- ----
As of April 30, 2015 the holdings of the portfolio represented approximately 53.1% sovereign and state government securities, 39.1% corporates, 5.2% supranationals and 2.6% cash.
As of April 30, 2015, the Fund's net assets, including $600 million in leverage, amounted to US$2,187.0 million with a net asset value per share of US$6.14.
As of April 30, 2015, 58.2% of the portfolio was invested in securities where either the issue or the issuer was rated "A" or better by multiple rating agencies. The credit quality and maturity breakdown of the portfolio was as follows:
Credit Quality (%)
-----------------
AAA/Aaa AA/Aa A BBB/Baa BB/Ba B NR
------- ----- --- ------- ----- --- ---
36.3 11.2 10.7 25.6 8.9 4.6 2.7
---- ---- ---- ---- --- --- ---
Maturity (%)
-----------
<3 Years 3-5 Years 5-10 Years >>10 Years
-------- --------- ---------- ----------
26.3 16.4 38.2 19.1
---- ---- ---- ----
As of April 30, 2015, the average maturity of the portfolio was 7.9 years.
The Fund utilizes various forms of leverage as detailed in the Fund's most recent annual reports to shareholders. The outstanding balance of all leverage as of April 30, 2015 is $600,000,000, which represents no change from the previous month.
As of April 30, 2015, the Fund's leverage consists of $50 million in 10-year privately issued mandatorily redeemable preferred stock, $100 million in 7-year privately placed senior secured notes, $100 million in 10-year privately placed senior secured notes, $100 million in a 3-year term loan, $100 million in a 5-year term loan, and $150 million in a 3-year syndicated revolving credit facility.
Important Information
Aberdeen Asset Management Inc., the Fund's Administrator, has prepared this report based on information sources believed to be accurate and reliable. However, the figures are unaudited and neither the Fund, the Administrator, Aberdeen Asset Management Asia Limited (the Investment Manager), Aberdeen Asset Management Limited (the Investment Adviser), Aberdeen Asset Managers Limited (the Sub-Adviser), nor any other person guarantees their accuracy. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information. Aberdeen is a U.S. registered service mark of Aberdeen Asset Management PLC.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective.
Total return figures with distributions reinvested at the dividend reinvestment price are stated net-of-fees and represents past performance. Past performance is not indicative of future results, current performance may be higher or lower. Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown. Inception date April 25, 1986.
If you wish to receive this information electronically, please contact: InvestorRelations@aberdeen-asset.com
Logo - http://photos.prnewswire.com/prnh/20121106/NE07292LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/aberdeen-asia-pacific-income-fund-inc-announces-performance-data-and-portfolio-composition-300088049.html
SOURCE Aberdeen Asia-Pacific Income Fund, Inc.
