PHILADELPHIA, Jan. 26, 2017 /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 December 31,
2016.
The Fund's total returns for various periods through
December 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)
|
950.8
|
8.0
|
821.4
|
7.5
|
10-years
|
64.4
|
5.1
|
51.8
|
4.3
|
5-years
|
2.7
|
0.5
|
-9.7
|
-2.0
|
3-years
|
2.6
|
0.9
|
2.1
|
0.7
|
1-year
|
4.8
|
10.4
|
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 December 31, 2016, the
portfolio was invested as follows:
|
Currency Exposure
%
|
Geographic
Exposure %
|
Australia
|
29.3
|
28.1
|
Supranational
|
-
|
3.8
|
|
|
|
United
States*
|
41.0
|
2.0
|
|
|
|
United
Kingdom
|
-
|
1.3
|
Norway
|
-
|
0.4
|
Germany
|
-
|
2.4
|
Netherlands
|
-
|
0.3
|
|
|
|
Mongolia
|
-
|
0.1
|
South
Korea
|
3.1
|
7.2
|
Philippines
|
0.5
|
3.6
|
Malaysia
|
3.1
|
3.3
|
Singapore
|
2.5
|
3.0
|
Thailand
|
0.4
|
2.2
|
Hong Kong
|
-
|
5.0
|
Indonesia
|
7.7
|
10.3
|
China
|
1.6
|
11.2
|
India
|
9.9
|
14.7
|
Sri Lanka
|
0.9
|
1.1
|
* Of which 36.4%
invested in US$ denominated bonds issued by foreign
issuers.
|
As of December 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
|
3.6
|
Australia Government
Bond
|
6.00%,
02/15/2017
|
2.8
|
Queensland Treasury
Corporation
|
6.25%,
06/14/2019
|
2.0
|
Queensland Treasury
Corporation
|
6.00%,
02/21/2018
|
1.9
|
State of New South
Wales Australia
|
6.00%,
02/01/2018
|
1.9
|
India Government
Bond
|
8.08%,
08/02/2022
|
1.7
|
Korea Treasury
Bond
|
3.00%,
09/10/2024
|
1.7
|
Australia Government
Bond
|
5.75%,
07/15/2022
|
1.6
|
Treasury Corporation
of Victoria
|
6.00%,
10/17/2022
|
1.6
|
Indonesia Government
Bond
|
8.38%,
09/15/2026
|
1.6
|
TOTAL
|
|
20.4
|
As of December 31, 2016 the
holdings of the portfolio represented approximately
55.9% sovereign and state government securities,
38.2% corporates, 3.8% supranationals and
2.1% cash.
As of December 31, 2016, the
Fund's net assets, including US$575 million in
leverage, amounted to US$1,910.0 million with a net
asset value per share of US$5.28.
As of December 31, 2016,
47.0% 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
|
CCC
|
NR
|
28.4
|
9.7
|
8.9
|
25.4
|
2.6
|
4.0
|
0.1
|
20.9
|
Maturity
(%)
|
<3
Years
|
3-5 Years
|
5-10 Years
|
>10
Years
|
20.7
|
16.9
|
44.3
|
18.1
|
As of December 31, 2016, the
average maturity of the portfolio was 7.6 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 December 31,
2016 is US$575,000,000, which represents no
change from the previous month.
As of December 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.