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Aberdeen Australia Equity Fund, Inc. (NYSE AMEX: IAF)
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Aberdeen Australia Equity Fund, Inc. (IAF) Update
Presenting: Mark Daniels
Live on:
Dec. 6, 2011
4 p.m. ET
Daily Data
At close Jan 26, 2012
| NAV | $9.98 |
| Price | $10.30 |
| Premium/Discount | 3.21% |
NAV and prices are provided by Morningstar. 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 Australia Equity Fund, Inc. (NYSE AMEX: IAF)
Investment Objective
Long term capital appreciation through investment primarily in equity securities of Australian companies listed on the Australian Stock Exchange. The Fund's secondary investment objective is current income.
Investing in the Asia-Pacific Region
As the West grapples with its debt issues, we believe that the structural soundness of the Asia-Pacific region will help deliver long-term opportunities for investors.
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December 2011
- Australian equities fell in November as further signs of a slowdown in China and Europe’s spreading debt crisis unnerved investors.
- The central bank lowered its benchmark interest rate by 25 basis points to 4.5% in view of easing inflation and weaker global growth. Separately, local retail sales gained and unemployment dipped.
- In Fund-related news, BHP Billiton agreed to pay the Western Australian government a higher royalty rate for its iron ore product. The miner will also proceed to develop the Caval Ridge mine and expand the Peak Downs mine in Queensland. Canada’s competition regulator approved Rio Tinto’s bid to acquire uranium producer Hathor Exploration.
- Project development and contracting company Leighton Holdings said Moody’s downgrade of its corporate credit rating will not hurt its credit facilities. Property management company Westfield plans to sell its stake in the Broadmarsh shopping center in the UK and is exploring the potential of developing a major retail center in south London with UK charity Whitgift Foundation.
- There were no major changes to the portfolio in November.
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