PHILADELPHIA, April 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 March 31,
2017.
The Fund's total returns for various periods through
March 31, 2017 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)
|
1,018.2
|
8.1
|
914.5
|
7.8
|
10-years
|
70.0
|
5.5
|
59.8
|
4.8
|
5-years
|
6.2
|
1.2
|
-1.4
|
-0.3
|
3-years
|
4.4
|
1.4
|
4.2
|
1.4
|
1-year
|
4.6
|
8.6
|
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 March 31, 2017, the
portfolio was invested as follows:
|
Currency Exposure
%
|
Geographic
Exposure %
|
Australia
|
27.7
|
27.5
|
Supranational
|
-
|
3.9
|
|
|
|
United
States*
|
46.5
|
3.0
|
|
|
|
United
Kingdom
|
-
|
1.3
|
Norway
|
-
|
0.4
|
Germany
|
-
|
2.5
|
Netherlands
|
-
|
0.3
|
|
|
|
Mongolia
|
-
|
0.2
|
Japan
|
-
|
0.3
|
Oman
|
-
|
0.2
|
South
Korea
|
2.2
|
4.9
|
Philippines
|
0.2
|
3.8
|
Malaysia
|
1.4
|
3.5
|
Singapore
|
2.0
|
3.1
|
Thailand
|
0.2
|
3.2
|
Hong Kong
|
-
|
4.5
|
Indonesia
|
7.7
|
11.1
|
China
|
1.6
|
10.7
|
India
|
9.5
|
14.3
|
Sri Lanka
|
1.0
|
1.3
|
* Of which 41.4% invested in US$ denominated bonds issued by
foreign issuers.
As of March 31, 2017, 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
|
3.9
|
Australia Government
Bond
|
5.50%,
01/21/2018
|
2.3
|
Queensland Treasury
Corporation
|
6.25%,
06/14/2019
|
2.1
|
Queensland Treasury
Corporation
|
6.00%,
02/21/2018
|
2.0
|
State of New South
Wales Australia
|
6.00%,
02/01/2018
|
1.9
|
Treasury Corporation
of Victoria
|
6.00%,
10/17/2022
|
1.7
|
Indonesia Government
Bond
|
8.25%,
05/15/2036
|
1.7
|
Australia Government
Bond
|
5.75%,
07/15/2022
|
1.6
|
Indonesia Government
Bond
|
8.75%,
05/15/2031
|
1.5
|
Australia Government
Bond
|
3.25%,
04/21/2025
|
1.4
|
TOTAL
|
|
20.1
|
As of March 31, 2017 the holdings
of the portfolio represented approximately 51.2% sovereign and
state government securities, 42.5% corporates, 3.9% supranationals
and 2.4% cash.
As of March 31, 2017, the Fund's
net assets, including US$575 million
in leverage, amounted to US$1,961.0
million with a net asset value per share of US$5.50.
As of March 31, 2017, 46.7% 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
|
28.5
|
8.7
|
9.5
|
25.6
|
3.8
|
3.3
|
0.2
|
20.4
|
Maturity
(%)
|
<3
Years
|
3-5 Years
|
5-10 Years
|
>10
Years
|
24.0
|
17.3
|
38.5
|
20.2
|
As of March 31, 2017, 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 March 31, 2017 is US$575,000,000, which represents no change from
the previous month.
As of March 31, 2017, 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$100
million in 10-year privately placed senior secured
notes, US$ 50 million in 15-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$100 million
in a 3-year syndicated revolving credit facility, of which
US$75 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. The Investment Manager,
Investment Adviser, Sub-Adviser and Administrator are each a wholly
owned subsidiary of Aberdeen Asset Management PLC. Aberdeen
Asset Management PLC announced on March 6,
2017 that it entered into an agreement with Standard Life
plc to carry out an all-share merger, subject to regulatory and
other approvals. More information about the potential merger
can be found on Aberdeen's website at
www.aberdeen-asset.com.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.