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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 Feb 21, 2012
| NAV | $10.06 |
| Price | $10.90 |
| Premium/Discount | 8.35% |
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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January 2012
- Australian equities fell in December, weighed down by concerns about China’s growth momentum and weaker commodity prices. For the full year, the MSCI Australia Index declined by approximately 11%.
- The central bank cut interest rates for a second consecutive month by 25 basis points to 4.25%, citing concerns about Europe’s fiscal crisis and the slowing global economy.
- Third-quarter GDP rose 1% quarter-on-quarter, underpinned by strong consumer spending and investment in the mining sector. November data, however, were mixed: Unemployment worsened but retail sales gained.
- In Fund-related news, Rio Tinto succeeded in acquiring Hathor Exploration for C$4.70 (roughly US$4.58) a share. The miner also won an arbitration dispute with Ivanhoe Mines, which will allow it to increase its stake in Ivanhoe beyond its present 49%. BHP Billiton is reviewing its diamond business, comprising the group’s interests in the Ekati mine and the Chidliak exploration project in Canada.
- There were no major changes to the portfolio in December.
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