UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-06342
Exact name of registrant as specified
in charter: Aberdeen Global Income Fund, Inc.
Address of principal executive offices: 800 Scudders Mill Road,
Plainsboro,
New Jersey 08536
Name and address of agent for service: Mr Beverly Hendry,
300 S.E. 2nd Street, Suite #820,
Fort Lauderdale,
Florida 33301
Registrant's telephone number,
including area code: 212-968-8800
Date of fiscal year end: 10/31/05
Date of reporting period: 1/31/05
Item 1 - Schedule of Investments
Portfolio of Investments - (unaudited)
As of January 31, 2005
Principal
Amount Moody's S&P Value
(000) Description Rating Rating (US$)
----------------------------------------------------------------------------------------------------------------------------------
LONG-TERM INVESTMENTS - 109.8%
AUSTRALIA - 23.3%
Brisbane Airport Corporation, Ltd.,
AUD 4,000 7.30%, 6/30/10 Aaa AAA $ 3,277,753
Commonwealth of Australia,
AUD 1,750 10.00%, 10/15/07 Aaa AAA 1,515,471
AUD 1,250 7.50%, 9/15/09 Aaa AAA 1,052,542
AUD 250 5.75%, 6/15/11 Aaa AAA 197,692
AUD 100 6.50%, 5/15/13 Aaa AAA 83,192
AUD 300 6.00%, 2/15/17 Aaa AAA 243,755
GE Capital Australia,
AUD 600 6.75%, 9/15/07 Aaa AAA 475,888
New South Wales Treasury Corporation,
AUD 3,700 7.00%, 12/01/10 NR AAA 3,064,772
AUD 550 6.00%, 5/01/12 Aaa NR 436,342
Northern Territory Treasury,
AUD 3,250 6.75%, 7/14/09 NR AA- 2,622,026
Queensland Treasury Corporation,
AUD 1,500 8.00%, 9/14/07 Aaa AAA 1,234,210
AUD 1,000 8.00%, 9/14/07 (Global) Aaa AAA 823,969
AUD 2,500 6.00%, 6/14/11 Aaa AAA 1,978,864
AUD 2,700 6.00%, 8/14/13 Aaa AAA 2,151,225
AUD 2,000 6.00%, 10/14/15 Aaa AAA 1,591,102
AUD 1,250 6.00%, 6/14/21 Aaa AAA 997,176
Tabcorp Investment No. 4 Pty Ltd.,
AUD 500 6.50%, 10/13/11 NR BBB+ 388,594
Telstra Corporation Ltd.,
NZD 1,000 7.15%, 11/24/14 A1 A+ 711,150
Treasury Corporation of Victoria,
AUD 1,000 9.00%, 6/27/05 Aaa AAA 784,999
AUD 1,500 10.25%, 11/15/06 Aaa AAA 1,258,394
Western Australia Treasury Corporation,
AUD 3,500 8.00%, 10/15/07 Aaa AAA 2,881,918
AUD 2,650 8.00%, 6/15/13 Aaa AAA 2,371,911
Wesfarmers Ltd.,
AUD 1,000 6.25%, 8/27/07 NR A- 779,422
------------
30,922,367
------------
BELGIUM - 0.3%
Carmeuse Lime BV,
EUR 300 10.75%, 7/15/12 Ba3 B+ 457,546
------------
BRAZIL - 3.2%
Federal Republic of Brazil,
USD 1,200 10.00%, 8/07/11 B1 BB- 1,368,000
USD 2,500 11.00%, 8/17/40 B1 BB- 2,893,750
------------
4,261,750
------------
CANADA - 19.0%
Canadian Government,
CAD 2,500 7.25%, 6/01/07 NR AAA 2,204,372
NZD 1,000 6.625%, 10/03/07 Aaa AAA 721,923
CAD 3,000 10.25%, 3/15/14 Aaa AAA 3,529,784
CAD 2,000 8.00%, 6/01/23 Aaa AAA 2,277,784
CAD 2,000 9.00%, 6/01/25 NR AAA 2,514,431
Canada (Cayman),
CAD 750 7.25%, 6/01/08 Aaa AAA 665,969
Ontario Hydro,
CAD 500 8.50%, 5/26/25 Aa2 AA 575,088
Province of British Columbia,
CAD 2,000 9.50%, 1/09/12 Aa2 AA 2,132,613
Province of Manitoba Series EMTN,
CAD 3,500 7.00%, 5/21/07 Aa2 AA- 3,049,805
Province of New Brunswick,
CAD 2,000 7.75%, 1/13/14 Aa3 AA- 1,976,632
Province of Newfoundland,
CAD 1,000 5.125%, 12/29/10 A3 A- 844,167
Province of Ontario,
NZD 2,000 5.75%, 3/03/08 Aa2 AA 1,385,704
CAD 1,000 5.25%, 11/30/11 Aa2 AA 847,998
Quebec Hydro,
CAD 2,000 9.625%, 7/15/22 A1 A+ 2,462,849
------------
25,189,119
------------
Aberdeen Global Income Fund, Inc.
As of January 31, 2005
Principal
Amount Moody's S&P Value
(000) Description Rating Rating (US$)
-----------------------------------------------------------------------------------------------------------------------------------
LONG-TERM INVESTMENTS - CONTINUED
CAYMAN ISLANDS - 0.5%
RMH Finance Ltd.,
GBP 300 8.80%, 8/28/17 Ba1 BB+ $ 639,387
------------
COLOMBIA - 1.4%
Republic of Colombia,
USD 1,600 10.375%, 1/28/33 Ba2 BB 1,812,000
------------
FINLAND- 2.1%
Republic of Finland,
GBP 1,250 10.125%, 6/22/08 Aaa AAA 2,739,782
------------
FRANCE - 1.6%
Dexia Municipal Agency,
NZD 3,000 7.00%, 11/26/07 Aaa AAA 2,136,738
------------
GERMANY - 3.5%
Bayerische Hypo-und Vereinsbank AG,
NZD 2,000 7.00%, 9/14/05 A3 A- 1,419,197
Cognis GmbH,
EUR 225 9.50%, 5/15/14 B3 B- 329,961
Commerzbank AG,
NZD 3,500 8.00%, 2/07/05 A2 A- 2,488,970
Kronos International Inc.,
EUR 310 8.875%, 6/30/09 B2 BB- 436,429
------------
4,674,557
------------
IRELAND - 0.3%
Valentia Telecommunications LTD,
EUR 300 7.25%, 8/15/13 Ba3 BB- 437,993
------------
JAMAICA - 1.1%
Government of Jamaica,
EUR 1,000 11.00%, 7/27/12 B1 B 1,478,226
------------
KAZAKHSTAN - 0.7%
Kazkommerts International BV,
USD 1,000 7.875%, 4/07/14 Baa2 BB- 991,400
------------
LUXEMBOURG - 1.0%
Council of Europe,
CAD 1,000 5.25%, 2/27/12 Aaa AAA 857,747
Rhiag SA,
EUR 310 10.75%, 6/05/07 B2 B- 404,100
------------
1,261,847
------------
MEXICO - 1.2%
Mexican Government,
MXN 19,000 8.00%, 12/19/13 Baa1 BBB+ 1,544,459
------------
NETHERLANDS - 4.0%
Bank Nederlandse Gemeenten NV,
NZD 1,000 5.25%, 6/17/09 Aaa AAA 674,524
GMAC INTL Finance BV,
NZD 3,500 8.00%, 3/14/07 Baa1 BBB- 2,478,504
Rabo Australia, Ltd.,
NZD 3,000 6.25%, 11/22/11 Aaa AAA 2,116,728
------------
5,269,756
------------
NEW ZEALAND - 6.3%
Auckland Healthcare Services Ltd,
NZD 1,000 7.75%, 9/15/15 Aaa AAA 763,366
Housing New Zealand,
NZD 1,500 8.00%, 11/15/06 Aaa AA 1,093,704
New Zealand Government,
NZD 5,000 6.50%, 4/15/13 Aaa AAA 3,648,374
NZD 2,500 6.00%, 4/15/15 Aaa AAA 1,770,989
Aberdeen Global Income Fund, Inc.
As of January 31, 2005
Principal
Amount Moody's S&P Value
(000) Description Rating Rating (US$)
----------------------------------------------------------------------------------------------------------------------------------
LONG-TERM INVESTMENTS - CONTINUED
Powerco Ltd.,
NZD 1,000 6.39%, 3/29/13 NR AAA $ 688,215
Transpower Finance Ltd.,
NZD 500 8.00%, 6/15/05 Aa2 AA 357,033
------------
8,321,681
------------
PERU - 1.2%
Republic of Peru,
USD 1,300 9.875%, 2/06/15 Ba3 BB 1,556,750
------------
PHILIPPINES - 1.3%
Philippine Long Distance Telephone Company,
USD 1,400 11.375%, 5/15/12 Ba2 BB- 1,632,820
Republic of Philippines,
USD 50 9.375%, 1/18/17 Ba2 BB- 53,706
------------
1,686,526
------------
RUSSIA - 1.3%
Gazprom OAO,
USD 800 9.625%, 3/01/13 NR BB- 950,480
JSC Severstal,
USD 800 9.25%, 4/19/14 B2 B+ 811,373
------------
1,761,853
------------
SOUTH AFRICA - 1.1%
Republic of South Africa,
ZAR 6,000 13.50%, 9/15/15 A2 A 1,400,806
------------
SWITZERLAND - 3.6%
Eurofima,
AUD 3,500 9.875%, 1/17/07 Aaa AAA 2,923,593
AUD 200 6.00%, 1/28/14 Aaa AAA 157,136
European Investment Bank,
AUD 2,300 7.00%, 12/17/07 Aaa AAA 1,648,804
------------
4,729,533
------------
TURKEY - 0.8%
Republic of Turkey,
USD 800 11.00%, 1/14/13 B1 BB- 1,012,000
------------
UKRAINE - 0.8%
City of Kiev,
USD 1,000 8.75%, 8/08/08 B2 B 1,071,400
------------
UNITED KINGDOM - 23.7%
Barclays Bank PLC,
GBP 1,000 9.875%, 5/29/49 Aa2 A+ 2,155,362
Big Food Group PLC,
GBP 150 9.75%, 6/30/12 B1 B+ 325,776
British Gas PLC,
GBP 1,400 8.875%, 7/08/08 A2 A 2,948,100
Debenhams Finance Holdings PLC,
GBP 125 10.50%, 8/28/12 (a) B2 B 265,822
EGG Banking PLC,
GBP 500 5.125%, 12/21/07 A3 A- 940,152
Prudential Finance B.V.,
GBP 500 9.375%, 6/04/07 NR AA- 1,030,646
United Kingdom Treasury,
GBP 1,250 8.50%, 12/07/05 Aaa AAA 2,435,363
GBP 1,100 7.50%, 12/07/06 Aaa AAA 2,183,216
GBP 500 5.75%, 12/07/09 Aaa AAA 991,711
GBP 1,500 8.00%, 9/27/13 Aaa AAA 3,509,719
GBP 600 8.00%, 12/07/15 Aaa AAA 1,458,174
GBP 3,000 8.00%, 6/07/21 Aaa AAA 7,839,619
GBP 2,350 6.00%, 12/07/28 NA AAA 5,374,964
------------
31,458,624
------------
UNITED STATES - 6.5%
AGCO Corporation,
EUR 225 6.875%, 4/15/14 B1 BB- 314,563
American Standard Inc.,
GBP 221 8.25%, 6/01/09 Baa3 BBB- 458,511
Bank of America Corporation,
AUD 500 6.50%, 12/05/08 Aa2 A+ 394,771
Cable & Wireless Optus Finance,
USD 100 8.00%, 6/22/10 A2 A+ 115,676
Aberdeen Global Income Fund, Inc.
As of January 31, 2005
Principal
Amount Moody's S&P Value
(000) Description Rating Rating (US$)
----------------------------------------------------------------------------------------------------------------------------------
LONG-TERM INVESTMENTS - CONCLUDED
Constellation Brands Inc.,
GBP 200 8.50%, 11/15/09 Ba2 BB $ 409,283
Dana Corporation,
EUR 300 9.00%, 8/15/11 Ba2 BBB- 486,876
Federal National Mortgage Association, Series EMTN,
AUD 2,000 6.375%, 8/15/07 Aaa AAA 1,576,344
General Electric Capital Corporation,
NZD 1,000 6.625%, 2/04/10 Aaa AAA 705,980
International Finance Corp,
NZD 4,000 6.75%, 7/15/09 Aaa AAA 2,894,577
Lear Corporation,
EUR 310 8.125%, 4/01/08 Baa3 BBB- 451,582
Merrill Lynch & Co., Inc.,
AUD 200 6.75%, 3/12/14 Aa3 A+ 159,559
TRW Automotive Inc.,
EUR 268 10.125%, 2/15/13 Ba3 BB- 410,488
Warner Music Group,
GBP 150 8.125%, 4/15/14 B3 B- 289,988
------------
8,668,198
------------
Total long-term investments
(cost US$116,768,316) 145,484,298
------------
SHORT-TERM INVESTMENTS - 8.0%
UNITED STATES - 8.0%
USD 4,107 Repurchase Agreement, State Street Bank and Trust
Company, 2.30% dated 1/31/05, due 2/01/05 in the
amount of $4,107,262 (collateralized by $3,455,000 U.S.
Treasury Bonds, 6.125% due 11/15/27; value $4,189,395) NR NR 4,107,000
CAD 3,407 State Street Bank and Trust Company Time Deposit,
2.00%, 11/03/04 NR NR 2,745,920
NZD 1,173 State Street Bank and Trust Company Fixed Deposit,
5.00%, 11/03/04 NR NR 834,179
GBP 1,567 State Street Bank and Trust Company Fixed Deposit,
4.687%, 11/03/04 NR NR 2,955,516
------------
Total short-term investments
(cost US$10,670,377) 10,642,615
------------
----------------------------------------------------------------------------------------------------------------------------------
Total Investments - 117.8% (cost US$127,438,693) 156,126,913
Other assets in excess of liabilities - 4.8% 6,338,852
Liquidation value of preferred stock - (22.6%) (30,000,000)
----------------------------------------------------------------------------------------------------------------------------------
Net Assets Applicable to Common Shareholders - 100.0% $132,465,765
==================================================================================================================================
AUD - Australian dollar
CAD - Canadian dollar
EUR - Euro
GBP - British pound
MXN - Mexican Peso
NZD - New Zealand dollar
USD - United States dollar
ZAR - South African Rand
NR - Not rated by Moody's or Standard & Poor's.
(a) Security is exempt from registration under Rule 144A of the Securities Act
of 1933. These securities may be resold in transactions exempt from
registration, normally to qualified institutional buyers. At January 31,
2005, the aggregate market value of these securities amounted to $265,822
or 0.2% of net assets applicable to common shareholders.
Aberdeen Global Income Fund, Inc.
As of January 31, 2005
Interest Rate Swap Agreements
Unrealized
Counterparty Termination Date Notional Amount (000) Fixed Rate Floating Rate Appreciation
-----------------------------------------------------------------------------------------------------------------------------------
UBS AG October 31, 2005 4,800 2.1025% 1 month LIBOR $ 35,035
UBS AG October 31, 2006 4,800 2.6900% 1 month LIBOR 61,459
UBS AG October 31, 2007 7,200 3.1600% 1 month LIBOR 92,657
UBS AG October 31, 2008 7,200 3.5400% 1 month LIBOR 66,600
------------
$ 255,751
============
----------------------------------------------------------------------------------------------------------------------------------
Unrealized
Futures Contracts Appreciation/
Expiration Contracts (Depreciation)
----------------------------------------------------------------------------------------------------------------------------------
Purchase Contract:
Australian Treasury Bond 6% - 10 year March 2005 10 $ (12,251)
Sale Contract:
Australian Treasury Bond 6% - 3 year March 2005 5 3,432
------------
$ (8,819)
============
Tax Cost of Investments
The United States federal income tax basis of the Fund's investments and net
unrealized appreciation as of January 31, 2005 were as follows:
Cost Appreciation Depreciation Net Unrealized Appreciation
---- ------------ ------------ ---------------------------
$ 152,729,663 $ 5,260,874 ($ 2,569,604) $ 2,691,270
Aberdeen Global Income Fund, Inc.
Item 2 - Controls and Procedures
(a) It is the conclusion of the Registrant's principal executive officer
and principal financial officer that the effectiveness of the
Registrant's current disclosure controls and procedures (such
disclosure controls and procedures having been evaluated within 90
days of the date of this filing) provide reasonable assurance that
the information required to be disclosed by the Registrant has been
recorded, processed, summarized and reported within the time period
specified in the Commission's rules and forms and that the
information required to be disclosed by the Registrant has been
accumulated and communicated to the Registrant's principal executive
officer and principal financial officer in order to allow timely
decisions regarding required disclosure.
(b) There have been no changes in the Registrant's internal control over
financial reporting that occurred during the last fiscal quarter
that has materially affected, or is reasonably likely to materially
affect, the Registrant's internal control over financial reporting.
Item 3 - Exhibits
(a)(1) Certifications pursuant to Rule 30a-2(a) under the Investment
Company Act of 1940 - Attached hereto
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Aberdeen Global Income Fund, Inc.
By: /s/ Martin Gilbert
---------------------------------
Martin Gilbert,
President of
Aberdeen Global Income Fund, Inc.
Date: March 22, 2005
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the Registrant and in the capacities and on the
dates indicated.
By: /s/ Martin Gilbert
---------------------------------
Martin Gilbert,
President of
Aberdeen Global Income Fund, Inc.
Date: March 22, 2005
By: /s/ Christian Pittard
---------------------------------
Christian Pittard,
Treasurer of
Aberdeen Global Income Fund, Inc.
Date: March 22, 2005