PHILADELPHIA, Oct. 21, 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 September 30,
2016.
The Fund's total returns for various periods through
September 30, 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)
|
1,037.2
|
8.3
|
897.0
|
7.9
|
|
10-years
|
86.3
|
6.4
|
71.5
|
5.5
|
|
5-years
|
19.1
|
3.6
|
5.5
|
1.1
|
|
3-years
|
9.1
|
3.0
|
6.9
|
2.2
|
|
1-year
|
16.6
|
24.1
|
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 September 30, 2016, the
portfolio was invested as follows:
|
Currency Exposure
%
|
Geographic
Exposure %
|
|
Australia
|
30.3
|
28.7
|
|
Supranational
|
-
|
3.8
|
|
|
|
|
United
States*
|
41.0
|
0.5
|
|
|
|
|
United
Kingdom
|
-
|
1.1
|
|
Norway
|
-
|
0.4
|
|
Germany
|
-
|
2.5
|
|
Netherlands
|
-
|
0.3
|
|
|
|
|
Bangladesh
|
0.1
|
0.1
|
|
South
Korea
|
2.9
|
8.3
|
|
Philippines
|
0.9
|
3.2
|
|
Malaysia
|
3.0
|
2.5
|
|
Singapore
|
1.8
|
3.2
|
|
Thailand
|
0.1
|
2.1
|
|
Hong Kong
|
-
|
4.4
|
|
Indonesia
|
7.4
|
10.7
|
|
China
|
1.9
|
12.5
|
|
India
|
9.7
|
14.6
|
|
Sri Lanka
|
0.9
|
1.1
|
|
* Of which 35.1%
invested in US$ denominated bonds issued by foreign
issuers.
|
As of September 30, 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
|
4.1
|
|
Australia Government
Bond
|
6.00%,
02/15/2017
|
2.7
|
|
India Government
Bond
|
8.08%,
08/02/2022
|
2.4
|
|
Treasury Corporation
of Victoria
|
5.75%,
11/15/2016
|
2.4
|
|
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
|
1.8
|
|
Treasury Corporation
of Victoria
|
6.00%,
10/17/2022
|
1.7
|
|
Australia Government
Bond
|
5.75%,
07/15/2022
|
1.6
|
|
TOTAL
|
|
22.8
|
As of September 30, 2016 the
holdings of the portfolio represented approximately 58.0% sovereign
and state government securities, 37.7% corporates, 3.8%
supranationals and 0.5% cash.
As of September 30, 2016, the
Fund's net assets, including US$575
million in leverage, amounted to US$2,054.6 million with a net asset value per
share of US$5.84.
As of September 30, 2016, 49.1% 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
|
|
31.7
|
8.1
|
9.3
|
25.3
|
3.8
|
3.8
|
18.0
|
|
Maturity
(%)
|
|
<3
Years
|
3-5 Years
|
5-10 Years
|
>>10
Years
|
|
18.1
|
17.9
|
45.5
|
18.5
|
As of September 30, 2016, the
average maturity of the portfolio was 7.7 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 September 30, 2016 is US$575,000,000, which represents no change from
the previous month.
As of September 30, 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.