PHILADELPHIA, Sept. 22, 2016 /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 August 31,
2016.
The Fund's total returns for various periods through
August 31, 2016 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)
|
1,023.7
|
8.3
|
923.1
|
8.0
|
10-years
|
83.7
|
6.3
|
75.2
|
5.8
|
5-years
|
7.3
|
1.4
|
-1.8
|
-0.4
|
3-years
|
12.2
|
3.9
|
10.8
|
3.5
|
1-year
|
14.7
|
28.3
|
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 August 31, 2016, the
portfolio was invested as follows:
|
Currency Exposure
%
|
Geographic
Exposure %
|
Australia
|
30.7
|
28.1
|
Supranational
|
-
|
3.8
|
|
|
|
United
States*
|
41.7
|
2.5
|
|
|
|
United
Kingdom
|
-
|
1.2
|
Norway
|
-
|
0.4
|
Germany
|
-
|
2.5
|
Netherlands
|
-
|
0.3
|
|
|
|
Bangladesh
|
0.1
|
0.1
|
South
Korea
|
3.0
|
8.3
|
Philippines
|
0.4
|
3.3
|
Malaysia
|
2.5
|
2.2
|
Singapore
|
1.7
|
4.0
|
Thailand
|
0.1
|
2.1
|
Hong Kong
|
-
|
4.4
|
Indonesia
|
7.4
|
8.1
|
China
|
1.7
|
12.6
|
India
|
9.8
|
15.0
|
Sri Lanka
|
0.9
|
1.1
|
* Of which 37.6% invested in US$ denominated bonds issued by
foreign issuers.
As of August 31, 2016, the top ten
holdings of the portfolio based on total assets were as
follows:
Holding
|
Coupon /
Maturity
|
(%)
|
Australia Government
Bond
|
3.75%,
04/21/2037
|
4.2
|
Australia Government
Bond
|
6.00%,
02/15/2017
|
2.7
|
Republic of
India
|
8.08%,
08/02/2022
|
2.3
|
Treasury Corporation
of Victoria
|
5.75%,
11/15/2016
|
2.3
|
Korea Treasury
Bond
|
3.00%,
09/10/2024
|
2.3
|
Queensland Treasury
Corporation
|
6.25%,
06/14/2019
|
2.0
|
State of New South
Wales Australia
|
6.00%,
02/01/2018
|
1.8
|
Korea Treasury
Bond
|
2.25%,
12/10/2025
|
1.7
|
Treasury Corporation
of Victoria
|
6.00%,
10/17/2022
|
1.7
|
Australia Government
Bond
|
5.75%,
07/15/2022
|
1.6
|
TOTAL
|
|
22.6
|
As of August 31, 2016 the holdings
of the portfolio represented approximately 55.4% sovereign and
state government securities, 38.3% corporates, 3.8% supranationals
and 2.5% cash.
As of August 31, 2016, the Fund's
net assets, including US$575 million
in leverage, amounted to US$2,049.4
million with a net asset value per share of US$5.81.
As of August 31, 2016, 49.8% 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
|
32.3
|
8.1
|
9.4
|
24.5
|
4.0
|
3.6
|
18.1
|
Maturity
(%)
|
<3
Years
|
3-5 Years
|
5-10 Years
|
>>10
Years
|
20.2
|
18.0
|
43.7
|
18.1
|
As of August 31, 2016, the average
maturity of the portfolio was 7.4 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 August 31, 2016 is US$575,000,000, which represents no change from
the previous month.
As of August 31, 2016, the Fund's
leverage consists of US$50 million in
10-year privately issued mandatorily redeemable preferred stock,
US$100 million in 7-year privately
placed senior secured notes, US$100
million in 10-year privately placed senior secured
notes, US$100 million in a 4-year term loan, US$100 million in a 5-year term loan, and
US$150 million in a 3-year syndicated
revolving credit facility, of which US$125
million is drawn.
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.