#
# Aberdeen Asia-Pacific Income Investment Company Limited
  (EDT)
» Canada Home
 

Daily Data

At close Aug, 27 2014

NAV$5.70
Price$5.69
Premium/Discount-0.21%

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.

 
 

Contact Us

Tel: +(1) 800 992 6341
Fax: +(1) 866 354 4005

investorrelations@aberdeen-asset.com

 

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.

 
Adam McCabe

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.

Download now
 
 
 

Manager's Monthly Report

June 2014

  • Asian fixed income markets closed mixed in June, as risk appetite was underpinned by continued loose policy in the West. The European Central Bank (ECB) cut interest rates to below zero. Federal Reserve chairman Yellen indicated that US rates will remain low amid an uneven recovery. Against this, turmoil in Iraq triggered fears of disruptions to oil supply and volatility in the oil price.
  • The performance of Indian and Indonesian bonds was relatively weaker in June. In India, inflation concerns deepened owing to higher food prices and a hike in railway tariffs. In Indonesia, uncertainty persisted ahead of the July 9 presidential election, as front-runner Joko Widodo’s lead over Prabowo Subianto appeared to shrink. Both markets were also affected by the unrest in Iraq, given that the two countries are oil importers.
  • Elsewhere, the Philippine market underperformed the overall region, with intermediate-term bonds lagging the most, as inflation accelerated to the highest level more than two years. Although the central bank left interest rates unchanged, Governor Amando Tetangco indicated a monetary policy shift to a tightening bias.
  • Australian bonds rallied after an initial sell-off, as three- and ten-year yields fell by 13 and 11 basis points, respectively. Economic data remained mixed. First-quarter gross domestic product (GDP) growth was positive and consumer confidence showed signs of recovering from its post-federal budget slump, but employment contracted in May. The central bank left its cash rate unchanged and reaffirmed its neutral policy stance. Credit markets performed well, as fresh European Central Bank measures were expected to crimp bond supply and increase demand for alternative assets.
 

Investment Policies

In order to achieve its investment objective, the Company may invest up to 80% of its total assets in "Asian-Pacific debt securities", and may be denominated in an Asian-Pacific 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.

 
Useful Links