PHILADELPHIA, May 9, 2018 /PRNewswire/ -- Aberdeen
Emerging Markets Equity Income Fund, Inc. (NYSE American: AEF),
a closed-end equity fund, announced today its portfolio composition
as of May 8, 2018.
The Fund is the consolidated entity resulting from the
reorganizations of Aberdeen Emerging Markets Smaller Company
Opportunities Fund, Inc. ("ABE"), Aberdeen Israel Fund, Inc.
("ISL"), Aberdeen Indonesia Fund, Inc. ("IF"), Aberdeen Latin
America Equity Fund, Inc. ("LAQ"), Aberdeen Singapore Fund, Inc.
("SGF"), Aberdeen Greater China Fund, Inc. ("GCH") and The Asia
Tigers Fund, Inc. ("GRR") into the Aberdeen Chile Fund, Inc.
("CH"). Effective April 30,
2018, the consolidated fund was renamed and now trades on
the NYSE American Exchange under the ticker symbol "AEF."
The information provided details the portfolio composition
following the preliminary realignment in the first week of trading
under the new equity income strategy. The Fund follows a
multi-cap emerging markets equity income investment strategy that
may utilize leverage1 and seeks to provide both current
income and long-term capital appreciation by investing, under
normal market conditions, at least 80% of its net assets, plus any
borrowings for investment purposes, in emerging market equity
securities.
On May 8, 2018, the Fund's net
assets amounted to US$836.8 million
and the Fund's NAV per share was US$9.41.
As of May 8, 2018, the portfolio
was invested as follows:
Portfolio
Composition
|
Percent of Net
Assets
|
Financials
|
22.6%
|
Information
Technology
|
20.2%
|
Telecommunications
|
11.6%
|
Consumer
Staples
|
9.7%
|
Cash
|
8.8%
|
Materials
|
7.2%
|
Real
Estate
|
6.3%
|
Consumer
Discretionary
|
6.2%
|
Industrials
|
2.5%
|
Energy
|
2.3%
|
Utilities
|
2.1%
|
Health
Care
|
0.5%
|
Portfolio
Composition
|
Geographic
Exposure
|
China
|
17.6%
|
India
|
12.5%
|
South
Africa
|
7.5%
|
Hong Kong
|
6.7%
|
Taiwan
|
6.7%
|
Brazil
|
5.9%
|
South
Korea
|
5.6%
|
Chile
|
4.4%
|
Indonesia
|
4.2%
|
Mexico
|
4.2%
|
Thailand
|
4.2%
|
Russia
|
3.3%
|
Turkey
|
3.1%
|
United
States
|
2.8%
|
Czech
Republic
|
1.9%
|
Poland
|
1.9%
|
Belgium
|
1.7%
|
Kenya
|
1.3%
|
Portugal
|
1.0%
|
Spain
|
0.8%
|
United
Kingdom
|
0.8%
|
Israel
|
0.7%
|
Romania
|
0.4%
|
Singapore
|
0.4%
|
Italy
|
0.3%
|
Malaysia
|
0.1%
|
The Fund's ten largest equity holdings as of May 8, 2018, representing 27.2% of net assets,
were:
Stock
|
Percent
of
Net
Assets
|
Tencent Holdings,
Ltd.
|
6.2%
|
China Mobile
Ltd.
|
3.0%
|
Samsung Electronics
Co. Ltd., Preferred Shares
|
2.6%
|
Samsung Electronics
Co. Ltd., GDR
|
2.5%
|
Taiwan Semiconductor
Manufacturing Co. Ltd.
|
2.4%
|
China Resources Land
Ltd.
|
2.3%
|
Taiwan Mobile Co.
Ltd.
|
2.2%
|
FirstRand
Ltd.
|
2.0%
|
Itau Unibanco Holding
SA
|
2.0%
|
ITC Ltd.
|
2.0%
|
As previously announced, the Fund anticipates a tender offer,
which together with a special distribution of capital gains, will
aggregate up to a maximum distribution of 50%, and not less than
40%, of the net assets of the Fund post-consolidation. The
tender offer and special distribution could result in the changes
to the composition noted above.
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 Managers 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. The Investment Adviser and the Administrator are
each a subsidiary of Aberdeen Asset Management PLC ("Aberdeen
PLC").
The Fund has not commenced the tender offer described in this
release. Any tender offer will be made only by an Offer for
Repurchase or Offer to Purchase for Cash, a related Letter of
Transmittal and other documents which will be filed with the SEC as
exhibits to a tender offer statement on Schedule TO. Holders of
Fund shares and Target Fund shares should read these documents once
they are filed and become available because they will contain
important information about the tender offer. These and other
documents filed by the Fund will be available to investors for free
both on the SEC's website at http://www.sec.gov and from the Fund.
The offer is not being made to, nor will tenders be accepted from
or on behalf of, holders of shares in any jurisdiction in which
making or accepting the offer would violate that jurisdiction's
laws.
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.
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.
If you wish to receive this press release
electronically, please contact:
InvestorRelations@aberdeenstandard.com
aberdeenaef.com
1 Leverage is not currently used.
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SOURCE Aberdeen Emerging Markets Equity Income Fund, Inc.