PHILADELPHIA, Aug. 21, 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 July 31,
2017.
The Fund's total returns for various periods through
July 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)
|
1,068.3
|
8.2
|
982.6
|
7.9
|
10-years
|
70.7
|
5.5
|
69.8
|
5.4
|
5-years
|
5.4
|
1.1
|
-4.8
|
-1.0
|
3-years
|
4.9
|
1.6
|
8.9
|
2.9
|
1-year
|
3.9
|
7.5
|
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 July 31, 2017, the portfolio
was invested as follows:
|
Currency Exposure
%
|
Geographic
Exposure %
|
Australia
|
28.5
|
29.6
|
Supranational
|
-
|
4.0
|
United
States*
|
43.8
|
0.4
|
United
Kingdom
|
-
|
1.3
|
Norway
|
-
|
0.5
|
Germany
|
-
|
2.6
|
Netherlands
|
-
|
0.3
|
Bahrain
|
-
|
0.2
|
United Arab
Emirates
|
-
|
0.8
|
Kuwait
|
-
|
0.8
|
Japan
|
0.3
|
-
|
South
Korea
|
2.5
|
4.7
|
Philippines
|
0.2
|
2.9
|
Malaysia
|
1.9
|
4.1
|
Mongolia
|
-
|
0.1
|
Singapore
|
1.9
|
2.7
|
Thailand
|
0.2
|
2.8
|
Hong Kong
|
-
|
5.1
|
Indonesia
|
8.5
|
11.1
|
China
|
1.2
|
11.4
|
India
|
9.9
|
13.2
|
Sri Lanka
|
1.1
|
1.4
|
* Of which 39.3% invested in US$ denominated
bonds issued by foreign issuers.
As of July 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
|
4.0
|
Australia Government
Bond
|
5.50%,
01/21/2018
|
2.3
|
Indonesia Government
Bond
|
8.25%,
05/15/2036
|
2.2
|
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
|
Australia Government
Bond
|
5.75%,
07/15/2022
|
1.7
|
India Government
Bond
|
8.12%,
12/10/2020
|
1.6
|
Australia Government
Bond
|
3.25%,
04/21/2025
|
1.5
|
TOTAL
|
|
21.0
|
As of July 31, 2017 the holdings
of the portfolio represented approximately 50.7% sovereign and
state government securities, 44.9% corporates, 4.0% supranationals
and 0.4% cash.
As of July 31, 2017, the Fund's
net assets, including US$600 million
in leverage, amounted to US$2,008.5
million with a net asset value per share of US$5.59.
As of July 31, 2017, 50.2% 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
|
29.6
|
7.9
|
12.7
|
24.6
|
4.6
|
2.7
|
0.1
|
17.8
|
Maturity
(%)
|
<3
Years
|
3-5 Years
|
5-10 Years
|
>>10
Years
|
25.2
|
22.9
|
33.0
|
18.9
|
As of July 31, 2017, the average
maturity of the portfolio was 7.8 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 July 31, 2017 is US$600,000,000, which represents no change from
the previous month.
As of July 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$100 million is drawn.
Important Information
Aberdeen Asset Management Inc.
(the "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 subsidiary of Aberdeen Asset Management
PLC ("Aberdeen PLC"). The merger of Standard Life plc and
Aberdeen PLC, announced on March 6,
2017 ("Merger"), closed on August
14, 2017. Aberdeen PLC became a direct subsidiary of
Standard Life plc as a result of the Merger and the combined
company changed its name to Standard Life Aberdeen plc.
Shareholders of the Fund are not required to take any action as a
result of the Merger. Following the Merger, the Fund's Investment
Manager, Investment Adviser, Sub-Adviser and Administrator are each
an indirect subsidiary of Standard Life Aberdeen plc, but otherwise
did not change. The investment management, advisory, sub-advisory
and administration agreements for the Fund, the services provided
under the agreements, and the fees charged for services did not
change as a result of the Merger. The portfolio management team for
the Fund did not change as a result of the Merger.
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
View original content with
multimedia:http://www.prnewswire.com/news-releases/aberdeen-asia-pacific-income-fund-inc-announces-performance-data-and-portfolio-composition-300507247.html
SOURCE Aberdeen Asia-Pacific Income Fund, Inc.