PHILADELPHIA, Sept. 2, 2014 /PRNewswire/ -- Aberdeen Australia Equity Fund, Inc. (the "Fund") (NYSE MKT: IAF), a closed-end equity fund, announced today performance data and corrected portfolio composition information as of July 31, 2014.
The Fund's total returns for various periods through July 31, 2014 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):
Cumulative as of 07/31/14 (%) | Annualized as of 07/31/14 (%) | |||||||
1 Month | 3 Month | YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
NAV | 1.5 | 1.8 | 9.6 | 12.5 | 2.7 | 8.2 | 10.5 | 8.2 |
Market Price | -1.8 | 1.1 | 11.0 | -2.0 | 0.3 | 7.1 | 11.5 | 8.1 |
S&P/ASX 200 | 2.8 | 3.9 | 11.8 | 20.7 | 7.4 | 13.1 | 12.6 | 11.8 |
The Fund's returns, which are denominated in U.S. dollars, are affected by the performance of the U.S. dollar against the Australian dollar.
On July 31, 2014, the Fund's net assets amounted to US$205.7 million and the Fund's NAV per share was $8.97.
As of July 31, 2014, the portfolio was invested as follows:
Portfolio Composition | Percent of |
Financials | 35.4 |
Materials | 22.5 |
Consumer Staples | 9.2 |
Utilities | 7.6 |
Health Care | 6.5 |
Energy | 5.9 |
Telecommunications | 5.3 |
Information Technology | 3.0 |
Consumer Discretionary | 1.5 |
Other Assets in Excess of Liabilities | 3.1 |
The Fund's ten largest equity holdings as of July 31, 2014, representing 61.9% of total assets, were:
Stock | Percent of Total Assets |
BHP Billiton PLC | 12.2 |
Rio Tinto PLC | 7.2 |
Commonwealth Bank of Australia | 6.8 |
Australia & New Zealand Banking Group Ltd. | 6.8 |
Woolworths Ltd. | 5.8 |
Singapore Telecommunications Ltd. | 5.3 |
AMP Ltd. | 4.7 |
ASX Ltd. | 4.6 |
CSL Ltd. | 4.4 |
Woodside Petroleum Ltd. | 4.1 |
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), 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.
Investors should consider a fund's investment objectives, risks, charges and expenses carefully before investing. A copy of the prospectus for Aberdeen Australia Equity Fund, Inc. that contains this and other information about the fund may be obtained by calling 866-839-5205. Please read the prospectus carefully before investing. Investing in funds involves risk, including possible loss of principal.
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.
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 December 12, 1985.
If you wish to receive this information electronically, please contact: InvestorRelations@aberdeen-asset.com
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SOURCE Aberdeen Australia Equity Fund, Inc.
