Aberdeen Asia-Pacific Income Fund, Inc. Announces Merger of United Kingdom Regulated Entities Including the Fund's Investment Sub-Adviser
Mar 09, 2012, 02:30 ET
PHILADELPHIA, March 9, 2012 /PRNewswire/ -- Aberdeen Asia-Pacific Income Fund, Inc. (NYSEAMEX: FAX) (the "Fund"), announced today an internal reorganization, that Aberdeen Asset Management PLC has merged Aberdeen Asset Management Investment Services Limited ("AAMISL"), into Aberdeen Asset Managers Limited ("AAML"), effective March 1, 2012. Therefore, effective March 1, 2012, AAML replaced AAMISL as Investment Sub-Adviser to the Fund. There will be no change to the portfolio management team or the level or nature of the services provided to the Fund and the same resources available to AAMISL for the management and compliance oversight of the Fund will be available to AAML. AAML, a Scottish company that is authorized and regulated in the UK by the Financial Services Authority and acts as Aberdeen's main operating company in the UK. AAML will continue to conduct the businesses previously conducted by AAMISL as its successor and will have all necessary regulatory licenses, authorizations and permissions in order to carry on the business of AAMISL, including registration as an adviser with the U.S. Securities and Exchange Commission.
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.
In the United Sates, Aberdeen Asset Management (AAM) the marketing name for the following affiliated, registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Managers Ltd, Aberdeen Asset Management Ltd and Aberdeen Asset Management Asia Ltd, each of which is wholly owned by Aberdeen Asset Management PLC. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.). Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.
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SOURCE Aberdeen Asia-Pacific Income Fund, Inc.
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