The Latin America Equity Fund, Inc. Announces Performance Data and Portfolio Composition
September 02 2009 - 3:12PM
PR Newswire (US)
PHILADELPHIA, Sept. 2 /PRNewswire-FirstCall/ -- The Latin America
Equity Fund, Inc. (the "Fund") (NYSE AMEX: LAQ), a closed-end
equity fund, announced today its performance data and portfolio
composition as of July 31, 2009. The Fund's total returns for
various periods through July 31, 2009 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 667.8 12.2 547.6 11.1 (October 1991) ----- ---- -----
---- ------------- 10-years 386.0 17.1 494.5 19.5 -------- -----
---- ----- ---- 5-years 236.1 27.4 262.5 29.4 ------- ----- ----
----- ---- 3-years 40.6 12.0 40.8 12.1 ------- ---- ---- ---- ----
1-year -23.3 -23.6 ------ ----- ----- On July 31, 2009, the Fund's
net assets amounted to US$207.8 million and the Fund's NAV per
share was $33.80. As of July 31, 2009, the portfolio was invested
as follows: Percent of Portfolio Composition Net Assets
--------------------- ---------- Basic Materials 19.2
--------------- ---- Financials 18.1 ---------- ---- Energy 16.8
------ ---- Communications 13.3 -------------- ---- Consumer,
Non-Cyclical 10.5 ---------------------- ---- Utilities 5.7
--------- --- Consumer, Cyclical 5.5 ------------------ --- Other
4.6 ----- --- Industrials 3.8 ----------- --- Diversified 2.5
----------- --- The Fund's ten largest equity holdings as of July
31, 2009, representing 48.6% of net assets, were: Percent of Stock
Net Assets ----- ---------- Petroleo Brasileiro SA Petrobas 16.8
------------------------------- ---- Vala SA 8.6 ------- ---
America Movil SAB de CV 6.2 ----------------------- --- Banco
Bradesco SA 2.9 ----------------- --- Vale SA 2.8 ------- ---
Fomento Economico Mexicano SAB de CV 2.6
------------------------------------ --- Banco Itau 2.4 ----------
--- Gerdau SA 2.1 --------- --- Organizacion Soriana 2.1
-------------------- --- Souza Cruz 2.1 ---------- --- Important
Information Aberdeen Asset Management Inc. has prepared this report
based on information sources believed to be accurate and reliable.
However, the figures are unaudited and neither the Fund, Aberdeen
Asset Investment Services Limited (the Investment Manager and
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. 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. Inception date October 30,
1991. If you wish to receive this information electronically,
please contact: DATASOURCE: The Latin America Equity Fund, Inc.
CONTACT: Investor Relations, Aberdeen Asset Management Inc.,
+1-866-839-5205,
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