The Latin America Equity Fund, Inc. Announces Performance Data and Portfolio Composition
December 04 2009 - 2:05PM
PR Newswire (US)
PHILADELPHIA, Dec. 4 /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 October 31, 2009. The Fund's total returns for
various periods through October 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 805.1 13.0 647.9 11.8
(October 1991) 10-years 468.3 19.0 577.2 21.1 5-years 242.3 27.9
259.4 29.1 3-years 50.9 14.7 47.5 13.8 1-year 83.0 79.7 On October
31, 2009, the Fund's net assets amounted to US$243.4 million and
the Fund's NAV per share was $39.83. As of October 31, 2009, the
portfolio was invested as follows: Percent of Net Portfolio
Composition Assets Basic Materials 21.4 Financials 18.5 Energy 17.1
Communications 12.1 Consumer, Non-Cyclical 10.8 Consumer, Cyclical
6.2 Industrials 4.5 Utilities 4.3 Other 2.7 Diversified 2.4 The
Fund's ten largest equity holdings as of October 31, 2009,
representing 50.3% of net assets, were: Percent of Net Stock Assets
Petroleo Brasileiro SA Petrobas 17.1 Vala SA 9.9 America Movil SAB
de CV 5.5 Banco Bradesco SA 3.2 Vale SA 3.2 Fomento Economico
Mexicano SAB de CV 2.5 Itau Unibanco Holding SA 2.4 Gerdau SA 2.3
Itau Unibanco Banco 2.1 Multi-Plan Empreendimentos 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 Management Investment Services Limited (the Investment
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. 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 October 30, 1991. If you wish to receive this
information electronically, please contact: DATASOURCE: The Latin
America Equity Fund, Inc. CONTACT: Aberdeen Asset Management Inc.,
Investor Relations, 1-866-839-5205, Web Site:
http://www.aberdeen-asset.com/
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