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Aberdeen Asia-Pacific Income Fund, Inc. (NYSE MKT: FAX)
- (EDT)
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At close Jun 18, 2013
| NAV | $7.10 |
| Price | $6.60 |
| Premium/(Discount) | -7.04% |
The NAV information is provided by the Fund's accounting agent. The price is as reported by the exchange on which the Fund trades. This information is unaudited and neither Aberdeen Asset Management PLC, its wholly owned subsidiaries, the Funds, nor any other person guarantees their accuracy.
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Aberdeen Asia-Pacific Income Fund, Inc. (NYSE MKT: FAX)*
Investment Objective
The Fund’s investment objective is to seek current income. The Fund may also achieve incidental capital appreciation. The Fund will seek to achieve its investment objective through investment in Australian and Asian debt securities.
For more detailed information on the specific risks associated with this fund, please view the Important Risk Considerations tab.
Aberdeen Insights: Views from the Front Lines of Asia
View highlights of our live roundtable with Hugh Young, Aberdeen’s Managing Director and Head of Equities, and Anthony Michael, Aberdeen’s Head of Fixed Income Asia-Pacific, as they discuss their views on opportunities in the Asia region. To view the full replay, visit our Aberdeen Insights channel
Click to read disclaimerFund Managers’ Monthly Report
April 2013
- Asian local currency bonds performed well in April, supported by Japan’s bold quantitative easing, a softening growth outlook and receding inflationary pressures.
- While manufacturing activity improved marginally in March, exports remained sluggish in most countries. For the first quarter, China’s gross domestic product (GDP) was relatively disappointing, whereas Korea’s economy expanded at its fastest pace in two years. Thailand lifted its 2013 growth forecast to 5.3% to reflect the anticipated boost from stimulus measures.
- As core inflation fell across most of the region, central banks kept monetary policy unchanged, although Philippine policymakers cut the special deposit account (SDA) rate by 50 basis points (bps) to 2%.
- Higher-yielding bond markets in India and Indonesia outperformed on the back of robust inflows, while Korea posted more modest gains. Most Asian currencies strengthened against the U.S. dollar, led by the Malaysian ringgit and the Taiwan dollar which benefited the most from fund inflows. The Thai baht lagged the overall market amid speculation of capital controls.
- Australian bond yields fell steadily in April, with three-year yields closing 29 bps lower at 2.53%. In our view, the markets factored in expectations of cuts to the cash rate, as economic data weakened. The credit markets narrowly outperformed Commonwealth bonds.
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