Aberdeen Global Income Fund, Inc. Announces Performance Data And Portfolio
PHILADELPHIA, Aug. 2, 2013
PHILADELPHIA, Aug. 2, 2013 /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 June 30, 2013.
The Fund's total returns for various periods through June 30, 2013 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
400.0 7.8 325.3 7.0
10-years 109.3 7.7 96.7 7.0
5-years 39.7 6.9 43.9 7.6
3-years 26.9 8.3 13.5 4.3
1-year -5.1 -13.3
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 June 30, 2013, the portfolio was invested as follows:
Currency Exposure % * Geographic Exposure %
Australia 22.4 21.7
United Kingdom 12.3 12.8
Canada 11.7 12.1
New Zealand 14.0 18.1
United States ** 29.6 3.3
Europe (ex UK) 2.3 11.7
Asia 1.5 4.6
Emerging Markets 6.2 15.7
*Currency allocations include impact of all foreign forward currency exchange
**Of which 18.9% is invested in US$ denominated bonds issued by foreign
As of June 30, 2013, the top ten holdings of the portfolio based on total
assets were as follows:
Holding Coupon / Maturity (%)
United Kingdom Gilt 4.25%, 12/07/49 7.1
Australia Government Bond 5.75%, 07/15/22 5.6
New Zealand Government Bond 5.50%, 04/15/23 4.8
New Zealand Government Bond 6.00%, 05/15/21 3.8
Australia Government Bond 5.75%, 05/15/21 3.2
New Zealand Government Bond 6.00%, 04/15/15 2.5
Treasury Corporation of Victoria 5.75%, 11/15/16 2.2
Canadian Government Bond 9.00%, 06/01/25 2.1
Canadian Government Bond 10.25%, 03/15/14 2.0
Australia Government Bond 5.50%, 04/21/23 2.0
As of June 30, 2013 the holdings of the portfolio represented approximately
76.3% sovereign and state government securities, 17.5% corporates, 3.6%
supranationals and 2.6% cash.
As of June 30, 2013, the Fund's net assets, including US$40 million in bank
borrowing, amounted to US$153.2 million with a net asset value per share of
common stock of US$12.04.
As of June 30, 2013, 69.3% 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
Credit Quality (%)
AAA/Aaa AA/Aa A BBB/Baa BB/Ba B CCC
33.5 28.4 7.4 14.3 11.1 5.0 0.3
<3 Years 3-5 Years 5-10 Years >>10 Years
27.3 11.6 43.7 17.4
As of June 30, 2013, the average maturity of the portfolio was 9.0 years.
The Fund has in place leverage in the form of a loan facility that renews
annually. The outstanding balance on the loan as of June 30, 2013 is
US$40,000,000, 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.
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
Investors should consider a fund's investment objectives, risks, charges and
expenses carefully before investing. A copy of the prospectus for Aberdeen
Global Income Fund, Inc. that contains this and other information about the
fund may be obtained by calling 866-839-5233. 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 March 12, 1992.
If you wish to receive this information electronically, please contact
SOURCE Aberdeen Global Income Fund, Inc.
Contact: Aberdeen Asset Management Inc., Investor Relations, 866-839-5233,
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