PHILADELPHIA, Dec. 22, 2015 /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 November 30, 2015.
The Fund's total returns for various periods through November 30, 2015 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) |
899.0 |
8.1 |
715.9 |
7.4 |
| 10-years |
74.4 |
5.7 |
55.8 |
4.5 |
| 5-years |
8.2 |
1.6 |
-9.3 |
-1.9 |
| 3-years |
-12.4 |
-4.3 |
-29.4 |
-11.0 |
| 1-year |
-7.2 |
-15.7 |
||
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 November 30, 2015, the portfolio was invested as follows:
| Currency Exposure % |
Geographic Exposure % |
|
| Australia |
29.5 |
31.3 |
| Supranational |
- |
3.9 |
| New Zealand |
0.1 |
0.1 |
| United States* |
50.4 |
3.2 |
| United Kingdom |
- |
1.5 |
| Norway |
- |
0.6 |
| Germany |
- |
2.1 |
| Bangladesh |
0.2 |
0.2 |
| South Korea |
3.0 |
8.0 |
| Philippines |
0.3 |
3.8 |
| Malaysia |
1.5 |
3.2 |
| Singapore |
3.0 |
3.7 |
| Thailand |
0.2 |
2.6 |
| Hong Kong |
- |
5.0 |
| Indonesia |
1.7 |
5.4 |
| China |
1.9 |
14.5 |
| India |
7.6 |
9.6 |
| Sri Lanka |
0.6 |
1.3 |
* Of which 41.2% invested in US$ denominated bonds issued by foreign issuers.
As of November 30, 2015, 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 |
6.2 |
| Treasury Corporation of Victoria |
5.75%, 11/15/2016 |
5.0 |
| Australia Government Bond |
4.50%, 04/21/2033 |
3.3 |
| Korea Treasury Bond |
3.00%, 09/10/2024 |
2.2 |
| Queensland Treasury Corporation |
6.25%, 06/14/2019 |
2.0 |
| Treasury Corporation of Victoria |
6.00%, 10/17/2022 |
1.6 |
| India Government Bond |
8.12%, 12/10/2020 |
1.5 |
| Queensland Treasury Corporation |
6.00%, 06/14/2021 |
1.4 |
| Australia Government Bond |
3.25%, 04/21/2025 |
1.3 |
| Wanda Commercial Properties Company |
7.25%, 01/29/2024 |
1.2 |
| TOTAL |
25.7 |
As of November 30, 2015 the holdings of the portfolio represented approximately 49.8% sovereign and state government securities, 43.1% corporates, 3.9% supranationals and 3.2% cash.
As of November 30, 2015, the Fund's net assets, including US$575 million in leverage, amounted to US$1,985.0 million with a net asset value per share of US$5.51.
As of November 30, 2015, 58.5% 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 |
NR |
| 36.9 |
12.4 |
9.2 |
22.5 |
6.9 |
4.7 |
7.4 |
| Maturity (%) |
|||
| <3 Years |
3-5 Years |
5-10 Years |
>10 Years |
| 20.5 |
15.7 |
42.9 |
20.9 |
As of November 30, 2015, the average maturity of the portfolio was 8.2 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 November 30, 2015 is US$575,000,000, which represents no change from the previous month.
As of November 30, 2015, 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$100 million in a 3-year term loan, US$100 million in a 5-year term loan, and US$150 million in a 3-year syndicated revolving credit facility, of which US$125 million is drawn.
Important Information
Aberdeen Asset Management Inc., the Fund's 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. Aberdeen is a U.S. registered service mark of Aberdeen Asset Management PLC.
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. 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: [email protected]
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SOURCE Aberdeen Asia-Pacific Income Fund, Inc.
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