PHILADELPHIA, Nov. 8, 2011 /PRNewswire/ -- The Singapore Fund, Inc. (NYSE: SGF), a closed-end management investment company seeking long-term capital appreciation through investment primarily in Singapore equity securities (the "Fund"), announced today that Austin C. Dowling has resigned as Director of the Fund effective November 1, 2011.
Mr. Moritz Sell, Chairman, comments: "Mr. Dowling has served as a Director of the Fund for over 11 years and on behalf of the Board, I would like to acknowledge his invaluable contribution to the Fund during this tenure and wish him the best of success in all his future endeavors."
Closed-end funds have a one-time initial public offering and then are subsequently traded on the secondary market through one of the stock exchanges. The 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 a fund will achieve its investment objective. Past performance does not guarantee future results.
International investing entails special risk considerations, including currency fluctuations, lower liquidity, economic and political risks, and differences in accounting methods; these risks are generally heightened for single country funds.
Aberdeen Asset Management is the marketing name in the U.S. for the following affiliated, registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Management Investment Services Ltd., Aberdeen Asset Management Ltd. and Aberdeen Asset Management Asia Ltd. (collectively, the 'Aberdeen Advisers'). Each of the Aberdeen Advisers is wholly owned by Aberdeen Asset Management PLC. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.
SOURCE The Singapore Fund, Inc.