ABRDN AUSTRALIA EQUITY FUND INC PHILADELPHIA, Feb. 12, 2016 /PRNewswire/ -- Aberdeen Australia Equity Fund, Inc. (the "Fund") (NYSE MKT: IAF), a closed-end equity fund, announced today performance data and portfolio composition information as of January 31, 2016.
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The Fund's total returns for various periods through January 31, 2016 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):
Cumulative as of
01/31/16 Annualized as of 01/31/16
(%) (%)
--- ---
1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years Since
Inception
---------
NAV -5.4 -2.7 -5.4 -10.0 -8.1 -3.0 3.1 6.9
--- ---- ---- ---- ----- ---- ---- --- ---
Market
Price -7.0 -5.7 -7.0 -14.8 -13.0 -5.8 1.4 6.4
------ ---- ---- ---- ----- ----- ---- --- ---
S&P/ASX
200 -8.1 -4.4 -8.1 -14.7 -7.4 -1.3 4.0 n/a(1)
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The Fund's returns, which are denominated in U.S. dollars, are affected by the performance of the U.S. dollar against the Australian dollar.
On January 31, 2016, the Fund's net assets amounted to US$132.9 million and the Fund's NAV per share was US$5.83.
As of January 31, 2016, the portfolio was invested as follows:
Portfolio Composition * Percent of
Net Assets
--- ----------
Financials 40.3
---------- ----
Materials 17.0
--------- ----
Health Care 14.3
----------- ----
Utilities 8.1
--------- ---
Energy 5.9
------ ---
Telecommunications 5.1
------------------ ---
Consumer Staples 3.4
---------------- ---
Consumer Discretionary 2.0
---------------------- ---
Industrials 1.9
----------- ---
Other Assets in Excess of Liabilities 2.0
------------------------------------- ---
* Please note that the sector allocation on the December 31, 2015 Performance Press Release and Fund Factsheet was incorrect and should have been reported as follows: Financials 40.9%, Materials 15.3%, Health Care 14.3%, Utilities 7.8%, Energy 6.1%, Telecommunications 4.8%, Industrials 3.7%, Consumer Staples 3.5%, Consumer Discretionary 1.9%, Other Assets in Excess of Liabilities 1.7%.
The Fund's ten largest equity holdings as of January 31, 2016, representing 54.4% of total assets, were:
Stock Percent of
Total Assets
--- ------------
ASX Ltd. 6.6
-------- ---
Westpac Banking Corporation 6.5
--------------------------- ---
Commonwealth Bank of Australia 6.4
------------------------------ ---
CSL Ltd. 6.3
-------- ---
Telstra Corp Ltd. 5.2
----------------- ---
Rio Tinto PLC 5.0
------------- ---
AGL Energy Ltd. 4.8
--------------- ---
Westfield Corporation 4.7
--------------------- ---
AMP Ltd. 4.7
-------- ---
BHP Billiton PLC 4.2
---------------- ---
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), 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 December 12, 1985.
If you wish to receive this information electronically, please contact: InvestorRelations@aberdeen-asset.com
¹ There is no since inception figure for the S&P/ASX 200 Index because the inception date of the Index is April 3, 2000.
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SOURCE Aberdeen Australia Equity Fund, Inc.
