Aberdeen Asia-Pacific Income Fund, Inc. Announces Performance Da

Aberdeen Asia-Pacific Income Fund, Inc. Announces Performance Data And Portfolio Composition

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SOURCE Aberdeen Asia-Pacific Income Fund, Inc.

PHILADELPHIA, June 21, 2018 /PRNewswire/ -- Aberdeen Asia-Pacific Income Fund, Inc. (the "Fund") (NYSE American: FAX), a closed-end bond fund, announced today its performance data and portfolio composition as of May 31, 2018.

Aberdeen Asset Management Inc. At Aberdeen, asset management is our business. We only manage assets for clients, allowing us to focus solely on their needs and deliver independent, objective investment advice. We know global markets from the local level upwards, drawing on more than 1,900 staff, across 32 offices in 23 countries. Investment teams are based in the markets or regions where they invest, delivering local perspective in a global investment environment. (PRNewsFoto/Aberdeen Asset Management Inc.)

The Fund's total returns for various periods through May 31, 2018 are provided below.  (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):

Period

NAV Total Return %

Market Price Total Return %


Cumulative

Annualized

Cumulative

Annualized

Since Inception

(April 1986)

1,044.9

7.9

910.2

7.5

10-years

56.2

4.6

48.3

4.0

5-years

5.1

1.0

0.2

0.0

3-years

10.8

3.5

10.0

3.2

1-year

1.7

-2.6

The Fund's returns, which are denominated in U.S. dollars, are affected by the performance of the U.S. dollar against the various currencies listed below.

As of May 31, 2018, the portfolio was invested as follows:


Currency Exposure %

Geographic Exposure %

Australia

31.2

28.6

     Supranational

-

4.8

United States*

36.6

2.4

United Kingdom

-

1.5

Norway

-

0.5

Germany

-

2.6

Netherlands

-

0.5

Israel

-

0.3

United Arab Emirates

-

1.2

Kuwait

-

0.2

Oman

-

0.2

Qatar

-

0.1

Saudi Arabia

-

0.5

South Korea

3.4

4.2

Philippines

1.2

2.6

Malaysia

2.1

3.7

Mongolia

-

0.1

Singapore

1.8

2.4

Thailand

2.2

2.5

Hong Kong

-

2.7

Indonesia

8.3

10.8

China

2.0

13.0

India

9.7

12.9

Sri Lanka

1.5

1.7

* Of which 36.5% invested in US$ denominated bonds issued by foreign issuers.

As of May 31, 2018, the top ten holdings of the portfolio based on total assets were as follows:

Holding

Coupon / Maturity

(%)

Australia Government Bond

5.50%, 04/21/2023

3.8

Australia Government Bond

3.25%, 06/21/2039

3.7

Indonesia Government Bond

7.50%, 05/15/2038

2.6

Queensland Treasury Corporation

5.50%, 06/21/2021

2.3

Australia Government Bond

3.75%, 04/21/2037

2.3

Queensland Treasury Corporation

6.25%, 06/14/2019

2.1

Australia Government Bond

2.75%, 11/21/2028

1.9

India Government Bond

8.30%, 07/02/2040

1.5

India Government Bond

7.73%, 12/19/2034

1.3

Indonesia Government Bond

8.75%, 05/15/2031

1.3

TOTAL


22.8

As of May 31, 2018 the holdings of the portfolio represented approximately 49.3% sovereign and state government securities, 43.5% corporates, 4.8% supranationals and 2.4% cash.

As of May 31, 2018, the Fund's net assets, including US$590 million in leverage, amounted to US$1,871.0 million with a net asset value per share of US$5.10.

As of May 31, 2018, 46.3% of the portfolio was invested in securities where either the issue or the issuer was rated "A" or better by multiple rating agencies.  The credit quality and maturity breakdown of the portfolio was as follows:

AAA/Aaa

AA/Aa

A

BBB/Baa

BB/Ba

B

NR

27.4

10.4

8.5

20.3

5.2

2.7

25.5

 

Maturity (%)

<3 Years

3-5 Years

5-10 Years

>10 Years

21.2

25.8

28.2

24.8


As of May 31, 2018, the average maturity of the portfolio was 9.4 years.

The Fund utilizes various forms of leverage as detailed in the Fund's most recent annual reports to shareholders.  The outstanding balance of all leverage as of May 31, 2018 is US$590,000,000, which represents a US$10 million change from the previous month.

As of May 31, 2018, the Fund's leverage consists of US$50 million in 10-year privately issued mandatorily redeemable preferred stock, US$100 million in 7-year privately placed senior secured notes, US$100 million in 10-year privately placed senior secured notes, US$ 50 million in 15-year privately placed senior secured notes, US$100 million in a 4-year term loan, US$100 million in a 15- privately placed senior secured notes, and US$100 million in a 3-year syndicated revolving credit facility, of which US$90 million is drawn.

Important Information
Aberdeen Asset Management Inc. has prepared this report based on information sources believed to be accurate and reliable. All reasonable care has been taken to ensure accuracy. However, the figures are unaudited and neither the Fund, the Investment Manager, 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. The Investment Manager is a subsidiary of Aberdeen Asset Management PLC ("Aberdeen PLC"). 

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.

Past performance is no guarantee of future results.  Investment returns and principle value will fluctuate and shares, when sold, may be worth more or less than original cost. Current performance may be lower or higher than the performance quoted. NAV return data includes investment management fees, custodial charges and administrative fees (such as Director and legal fees) and assumes the reinvestment of all distributions. Returns for periods less than one year are not annualized. 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 April 25, 1986.

 

If you wish to receive this information electronically, please contact: Investor.Relations@aberdeenstandard.com

 

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