PHILADELPHIA, Sept. 2, 2014 /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 July 31,
2014.
The Fund's total returns for various periods through
July 31, 2014 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
(April
1986)
|
1,013.3
|
8.9
|
894.3
|
8.5
|
10-years
|
124.1
|
8.4
|
103.9
|
7.4
|
5-years
|
52.4
|
8.8
|
42.0
|
7.3
|
3-years
|
4.8
|
1.6
|
-4.1
|
-1.4
|
1-year
|
8.7
|
7.8
|
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 July 31, 2014, the portfolio
was invested as follows:
|
Currency Exposure
%
|
Geographic
Exposure %
|
Australia
|
42.2
|
40.2
|
New
Zealand
|
0.1
|
0.1
|
|
|
|
Canada
|
-
|
0.4
|
United
States*
|
33.7
|
2.4
|
|
|
|
United
Kingdom
|
-
|
1.0
|
Norway
|
-
|
0.8
|
Germany
|
-
|
1.6
|
|
|
|
South
Korea
|
8.5
|
9.6
|
Philippines
|
1.1
|
3.9
|
Malaysia
|
2.4
|
4.3
|
Singapore
|
0.2
|
1.9
|
Thailand
|
1.9
|
4.4
|
Hong Kong
|
-
|
5.6
|
Indonesia
|
1.4
|
6.9
|
China
|
4.0
|
11.8
|
India
|
3.8
|
4.1
|
Sri Lanka
|
0.7
|
1.0
|
* Of which 38.6% invested in US$ denominated bonds issued by
foreign issuers.
As of July 31, 2014, the top ten
holdings of the portfolio based on total assets were as
follows:
Holding
|
Coupon /
Maturity
|
(%)
|
Australia Government
Bond
|
4.50%,
10/21/2014
|
6.2
|
Treasury Corporation
of Victoria
|
5.75%,
11/15/2016
|
5.5
|
Australia Government
Bond
|
6.25%,
04/15/2015
|
4.2
|
Australia Government
Bond
|
4.50%,
04/21/2033
|
2.5
|
Queensland Treasury
Corporation
|
6.25%,
06/14/2019
|
2.1
|
Treasury Corporation
of Victoria
|
6.00%,
10/17/2022
|
1.6
|
Australia Government
Bond
|
5.75%,
07/15/2022
|
1.6
|
Queensland Treasury
Corporation
|
6.00%,
06/14/2021
|
1.4
|
Malaysia Government
Bond
|
3.58%,
09/28/2018
|
1.3
|
India Government
Bond
|
8.12%,
12/10/2020
|
1.3
|
TOTAL
|
|
27.7
|
As of July 31, 2014 the holdings
of the portfolio represented approximately 53.4% sovereign and
state government securities, 38.7% corporates, 5.4% supranationals,
0.1% mortgage backed securities and 2.4% cash.
As of July 31, 2014, the Fund's
net assets, including $600 million in
leverage, amounted to US$2,399.2
million with a net asset value per share of US$6.83.
As of July 31, 2014, 66.0% 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
|
35.2
|
14.3
|
16.5
|
16.9
|
11.3
|
3.4
|
2.4
|
Maturity
(%)
|
<3
Years
|
3-5 Years
|
5-10 Years
|
>>10
Years
|
31.7
|
20.4
|
35.3
|
12.6
|
As of July 31, 2014, the average
maturity of the portfolio was 6.3 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 July 31, 2014 is $600,000,000, which represents no change from the
previous month.
As of July 31, 2014, 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
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SOURCE Aberdeen Asia-Pacific Income Fund, Inc.