Daily Data
At close Feb, 21 2012
| NAV | $7.04 |
| Price | $7.78 |
| Premium/Discount | 10.51% |
NAV and prices are provided by Morningstar. This information is unaudited and neither Aberdeen Asset Management PLC, its wholly owned subsidiaries, the Funds, nor any other person guarantees their accuracy.
Fund Manager Interview
Aberdeen recently sat down with Anthony Michael, Head of Fixed Income – Asia Pacific, to discuss Aberdeen’s views on the future opportunities and potential risks in Asia’s bond markets.
Download OutlookContact Us
Tel: +(1) 800 992 6341
Fax: +(1) 866 354 4005
Aberdeen Asia-Pacific Income Investment Company Limited (TSX: FAP)
Investment Objective
The investment objective of the Company is to obtain current income and achieve incidental capital appreciation from investment in long-term debt securities. The Company may invest up to 80% of total assets in securities issued by Asian entities.
Manager's Monthly Report
January 2012
- Asian bond markets performed well in December on the back of concerns over a sharper slowdown in the region and warnings of further credit downgrades in the Eurozone.
- The shift towards monetary easing continued, with Thailand’s central bank cutting its benchmark repo rate by 25 basis points (bps) to 3.25%. India and Indonesia kept monetary policy unchanged, though expectations of easing over the next six months rose. Regional economies decelerated and inflation eased.
- Indonesian bonds outperformed amid expectations of further interest rate cuts and Fitch Ratings’ upgrade to BBB-, while the Indian market was supported by a Moody’s upgrade of domestic government debt and weak industrial production data. Philippine bonds performed well after the central bank’s hints of possible easing.
- Australian bonds rallied, as the 10-year yield fell by 27 bps, but three-year yields stagnated. The yield curve flattening reflected market doubts about further monetary easing.
- The Asian credit market rebounded from November’s losses, led by the high-yield sector.
Investment Policies
In order to achieve its investment objective, the Company may invest up to 80% of its total assets in "Asian debt securities", and may be denominated in an Asian Country currency or in Australian, New Zealand or U.S. dollars. At least 20% of the Company's total assets will be invested in "Australian debt securities".
The information contained above provides only a brief summary description of the Company's investment objective and investment policies. Please contact Investor Relations should you wish to receive more detailed information regarding the Company.
Taxation
Shareholders should consult with their tax advisors regarding the taxation of dividends received on shares of the Company and any disposition of shares of the Company. In general, dividends received by a Canadian resident holder of shares of the Company (including dividends reinvested in shares of the Company) must be included in computing the income of the holder for Canadian tax purposes. The gross-up and dividend tax credit rules applicable to dividends received from taxable Canadian corporations will not be applicable, as the Company is not a Canadian corporation.
Dividends
The Fund pays dividends monthly out of net investment income and realized capital gains, and to the extent necessary, paid in capital.