PHILADELPHIA, Sept. 2, 2014 /PRNewswire/ -- Aberdeen
Australia Equity Fund, Inc. (the "Fund") (NYSE MKT: IAF), a
closed-end equity fund, announced today performance data and
corrected portfolio composition information 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):
|
Cumulative as of
07/31/14
(%)
|
Annualized as of
07/31/14
(%)
|
|
1
Month
|
3
Month
|
YTD
|
1
Year
|
3
Years
|
5
Years
|
10
Years
|
Since
Inception
|
NAV
|
1.5
|
1.8
|
9.6
|
12.5
|
2.7
|
8.2
|
10.5
|
8.2
|
Market
Price
|
-1.8
|
1.1
|
11.0
|
-2.0
|
0.3
|
7.1
|
11.5
|
8.1
|
S&P/ASX
200
|
2.8
|
3.9
|
11.8
|
20.7
|
7.4
|
13.1
|
12.6
|
11.8
|
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 July 31, 2014, the Fund's net
assets amounted to US$205.7 million
and the Fund's NAV per share was $8.97.
As of July 31, 2014, the portfolio
was invested as follows:
Portfolio
Composition
|
Percent of
Net Assets
|
Financials
|
35.4
|
Materials
|
22.5
|
Consumer
Staples
|
9.2
|
Utilities
|
7.6
|
Health
Care
|
6.5
|
Energy
|
5.9
|
Telecommunications
|
5.3
|
Information
Technology
|
3.0
|
Consumer
Discretionary
|
1.5
|
Other Assets in
Excess of Liabilities
|
3.1
|
The Fund's ten largest equity holdings as of July 31, 2014, representing 61.9% of total
assets, were:
Stock
|
Percent
of
Total
Assets
|
BHP Billiton
PLC
|
12.2
|
Rio Tinto
PLC
|
7.2
|
Commonwealth Bank of
Australia
|
6.8
|
Australia & New
Zealand Banking Group Ltd.
|
6.8
|
Woolworths
Ltd.
|
5.8
|
Singapore
Telecommunications Ltd.
|
5.3
|
AMP Ltd.
|
4.7
|
ASX Ltd.
|
4.6
|
CSL Ltd.
|
4.4
|
Woodside Petroleum
Ltd.
|
4.1
|
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.
Investors should consider a fund's investment objectives,
risks, charges and expenses carefully before investing. A copy of
the prospectus for Aberdeen Australia Equity Fund, Inc. that
contains this and other information about the fund may be obtained
by calling 866-839-5205. Please read the prospectus carefully
before investing. Investing in funds involves risk, including
possible loss of principal.
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
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SOURCE Aberdeen Australia Equity Fund, Inc.