# Aberdeen Australia Equity Fund, Inc. (NYSE MKT: IAF)
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Daily Data

At close Sep 15, 2014

Market Price$8.58
Unadjusted NAV**$8.69

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 Australia Equity Fund, Inc. (NYSE MKT: IAF)*

Investment Objective

The Fund’s principal investment objective is long-term capital appreciation through investment primarily in equity securities of Australian companies listed on the Australian Stock Exchange Limited (“ASX”). The Fund’s secondary investment objective is current income.

For more detailed information on the specific risks associated with this fund, please view the Important Risk Considerations tab. 

Investing in Asia Pacific

Aberdeen Australia Equity Fund, Inc. Webcast Replay

In this webcast, Aberdeen's Mark Daniels gives an update on the Aberdeen Australia Equity Fund, Inc. Mark covers fund performance, recent portfolio positioning and provides some macro commentary and outlook for Australian equities.

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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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Fund Managers’ Monthly Report

July 2014

  • Australian equities rebounded sharply in July, with the MSCI Australia Index1 closing at its highest level since January 2008. Investor sentiment was buoyed by rosier Chinese economic data and still-stabilizing iron ore prices. This offset concerns over heightened geopolitical tensions in Ukraine and the Middle East.
  • Australia’s carbon tax was repealed, a move that appeared positive, particularly for the domestic economy. Retail sales dipped in May, partially due to the tighter federal budget. Unemployment was marginally higher, as more entered the labor market in search of work. Inflation for the second quarter was slightly better than expected and the central bank held its benchmark interest rate unchanged.
  • In Fund-related corporate news, QBE Insurance announced another profit downgrade as management set aside an additional A$170 million (about US$158 million) in reserves for its Latin American business to buffer against increased workers’ compensation claims. The company was also hit by flood-related claims in the UK. Nonetheless, management maintained its full-year earnings forecast.
  • In July, we pared the Fund’s positions in shareholder services provider Computershare and gaming company Tatts Group on their strong relative share price performance.

1 The MSCI Australia Index measures the performance of the large- and mid-cap segments of the Australia market. The index covers approximately 85% of the free-float-adjusted market capitalization in Australia.

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Full investment objective, investment policies and investment restrictions Section 16 Filings


Pursuant to valuation policies adopted by the Board of Directors of the Fund, the Fund values foreign equity securities that primarily trade in certain markets that close ahead of the Fund’s daily 4:00 pm Eastern net asset value (“NAV”) calculation time at their fair values using prices provided by third-party independent pricing services. The fair value of each such security generally is calculated by applying a valuation factor provided by the independent pricing service to the last sales price for that security, or, if, the pricing service is unable to provide a fair value for a security, at the price at the close of the exchange on which it is principally traded, subject to adjustment by the Fund’s Pricing Committee. These daily fair valuations seek to reflect information available after the local market close that may affect the value of the foreign equity securities held by the Fund. As a result, this official NAV calculation reflects adjustments that may cause it to vary from a calculation based solely on closing prices. In contrast, the “Unadjusted NAV” of the Fund (shown above) is for informational purposes only and is computed using the closing prices on the relevant exchange. It does not reflect any daily fair valuation adjustments of the Fund’s foreign securities. The Unadjusted NAV does not represent the official NAV of the Fund, nor is the Unadjusted NAV used for Fund accounting or performance purposes. Investors should not rely upon the Unadjusted NAV when making their investment decisions.

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