PHILADELPHIA, Sept. 12, 2019 /PRNewswire/ -- The India Fund, Inc. (NYSE: IFN) (the "Fund") Board of Directors announces that Dr. Leslie H. Gelb, a director of the Fund since 1994, passed away on August 31, 2019. During his tenure, Dr. Gelb served on both the Nominating and the Audit Committees.
The Board is grateful for Dr. Gelb's long and dedicated service to the Fund and extends its deepest condolences to Dr. Gelb's family.
In light of the foregoing, the Board has approved a reduction in the size of the Board from seven to six directors. Nisha Kumar, who previously served as a Class I Director, will now serve as a Class II Director in order to maintain an equal number of directors in each class in accordance with the Fund's governing documents.
In the United States, Aberdeen Standard Investments is the marketing name for the following affiliated, registered investment advisers: Aberdeen Standard Investments Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard Investments Australia Ltd., Aberdeen Standard Investments (Asia) Ltd., Aberdeen Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Standard Life Investments (Corporate Funds) Ltd.
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.
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SOURCE The India Fund, Inc.