Aberdeen Global Income Fund, Inc. Announces Performance Data And Portfolio Composition

Donnerstag, 22.09.2016 22:35 von

PR Newswire

PHILADELPHIA, Sept. 22, 2016 /PRNewswire/ -- Aberdeen Global Income Fund, Inc. (the "Fund") (NYSE MKT: FCO), a closed-end bond fund, announced today its performance data and portfolio composition as of August 31, 2016.

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.

The Fund's total returns for various periods through August 31, 2016 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

(March 1992)

438.5

7.1

362.6

6.5

10-years

68.9

5.4

63.0

5.0

5-years

6.0

1.2

-4.1

-0.8

3-years

10.1

3.3

13.6

4.4

1-year

13.4

27.9

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 August 31, 2016, the portfolio was invested as follows:


Currency Exposure % 

Geographic Exposure %

Australia

17.4

18.6

United Kingdom

13.5

13.5

Canada

12.4

12.4

New Zealand

10.6

17.1




United States *

39.7

1.6




Europe (ex UK)

2.3

11.4

Asia

1.0

7.5

Emerging Markets

3.1

17.9

*Of which 29.3% is invested in US$ denominated bonds issued by foreign issuers.

As of August 31, 2016, the top ten holdings of the portfolio based on total assets were as follows:

Holding

Coupon / Maturity

(%)

New Zealand Government Bond

5.50%, 04/15/2023

6.4

United Kingdom Gilt

1.50%, 07/22/2026

5.9

New Zealand Government Bond

6.00%, 05/15/2021

5.1

Australia Government Bond

3.75%, 04/21/2037

3.9

United Kingdom Gilt

4.25%, 12/07/2049

3.6

Australia Government Bond

6.00%, 02/15/2017

3.2

Canadian Government Bond

9.00%, 06/01/2025

2.3

Landwirtschaftliche Rentenbank

6.25%, 04/13/2018

2.2

Canadian Government Bond

3.50%, 12/01/2045

2.1

Russia Government Bond

7.05%, 01/19/2028

2.1

TOTAL


36.8

As of August 31, 2016 the holdings of the portfolio represented approximately 77.9% sovereign and state government securities, 19.3% corporates, 1.8% supranationals and 1.0% cash. 

As of August 31, 2016, the Fund's net assets, including US$31.5 million in bank borrowing, amounted to US$116.3 million with a net asset value per share of common stock of US$9.70.

As of August 31, 2016, 64.3% 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:

Credit Quality (%)

AAA/Aaa

AA/Aa

A

BBB/Baa

BB/Ba

B

CCC

NR

28.6

31.6

4.1

8.6

12.3

9.7

2.8

2.3










 

Maturity (%)

<3 Years

3-5 Years

5-10 Years

>>10 Years

17.1

15.9

35.4

31.6

As of August 31, 2016, the average maturity of the portfolio was 10.2 years.

The Fund has in place leverage in the form of a loan facility.  The outstanding balance on the loan as of August 31, 2016 is US$31,500,000, which represents no change from the previous month.

The leverage is used with the intent of enhancing returns by borrowing at interest rates that are lower than the relatively higher yields of the emerging market fixed income securities in which the Fund invests.  The Fund has entered into interest rate swap agreements in order to fix the interest payable on a portion of the bank loan facility.  Details regarding the revolving credit loan facility and the interest rate swap agreements are contained in the Fund's annual and semi-annual reports to shareholders. 

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), Aberdeen Asset Managers Limited (the Sub-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.

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 March 12, 1992.

If you wish to receive this information electronically, please contact InvestorRelations@aberdeen-asset.com

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SOURCE Aberdeen Global Income Fund, Inc.