The Latin America Equity Fund, Inc. Announces Performance Data and Portfolio Composition
January 06 2010 - 3:16PM
PR Newswire (US)
PHILADELPHIA, Jan. 6 /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 November 30, 2009. The Fund's total returns for
various periods through November 30, 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 883.7 13.5 724.1 12.4 ---------- ----- ---- ----- ----
(October 1991) -------------- 10-years 445.1 18.5 550.7 20.6
-------- ----- ---- ----- ---- 5-years 242.9 27.9 252.9 28.7
------- ----- ---- ----- ---- 3-years 53.9 15.4 50.6 14.6 -------
---- ---- ---- ---- 1-year 110.8 139.1 ------ ----- ----- On
November 30, 2009, the Fund's net assets amounted to US$264.4
million and the Fund's NAV per share was $43.29. As of November 30,
2009, the portfolio was invested as follows: Percent of Portfolio
Composition Net Assets --------------------- ---------- Financials
20.3 ---------- ---- Consumer, Non-Cyclical 18.3
---------------------- ---- Basic Materials 16.7 ---------------
---- Consumer, Cyclical 9.9 ------------------ --- Energy 8.9
------ --- Industrials 8.8 ----------- --- Communications 8.1
-------------- --- Other 6.9 ----- --- Utilities 1.6 --------- ---
Diversified 0.5 ----------- --- The Fund's ten largest equity
holdings as of November 30, 2009, representing 51.9% of net assets,
were: Percent of Net Stock Assets ----- -------------- Petroleo
Brasileiro SA Petrobas 8.9 ------------------------------- --- Vala
SA 8.6 ------- --- America Movil SAB de CV 5.4
----------------------- --- Banco Bradesco SA 5.3 -----------------
--- Fomento Economico Mexicano SAB de CV 4.6
------------------------------------ --- Lojas Renner SA 4.2
--------------- --- Ultrapar Participacoes SA 3.9
------------------------- --- Grupo Financiero Banorte SAB de CV
3.8 ---------------------------------- --- Tenarsis SA 3.7
----------- --- Naturo Cosmeticos SA 3.5 -------------------- ---
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,
Copyright