The Fund is the consolidated entity resulting from the reorganizations of Aberdeen Emerging Markets Smaller Company Opportunities Fund, Inc. (“ABE”), Aberdeen Israel Fund, Inc. (“ISL”), Aberdeen Indonesia Fund, Inc. (“IF”), Aberdeen Latin America Equity Fund, Inc. (“LAQ”), Aberdeen Singapore Fund, Inc. (“SGF”), Aberdeen Greater China Fund, Inc. (“GCH”) and The Asia Tigers Fund, Inc. (“GRR”) into the Aberdeen Chile Fund, Inc. (“CH”). Effective April 30, 2018, the consolidated fund was renamed and now trades on the NYSE American Exchange under the ticker symbol “AEF.”
The information provided details the portfolio composition following the preliminary realignment in the first month of trading under the new equity income strategy. The Fund follows a multi-cap emerging markets equity income investment strategy that may utilize leverage[1] and seeks to provide both current income and long-term capital appreciation by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in emerging market equity securities.
As of May 25, 2018, the portfolio was invested as follows:
|
SECURITY NAME |
SHARES |
CURRENCY CODE |
BASE MARKET VALUE |
AS A % of MARKET VALUE |
|
TENCENT HOLDINGS LTD |
1,038,100 |
HKD |
53,784,681 |
6.45% |
|
CHINA MOBILE LTD |
2,697,200 |
HKD |
24,729,793 |
2.96% |
|
SAIC MOTOR CORP LTD A |
3,999,936 |
CNY |
21,637,978 |
2.59% |
|
SAMSUNG ELECTRONICS PREF |
548,800 |
KRW |
21,221,974 |
2.54% |
|
SAMSUNG ELECTRO REGS GDR PFD |
21,900 |
USD |
21,133,500 |
2.53% |
|
VALE SA SP ADR |
1,435,595 |
USD |
20,141,398 |
2.41% |
|
TAIWAN SEMICONDUCTOR MANUFAC |
2,616,000 |
TWD |
19,976,908 |
2.39% |
|
CHINA RESOURCES LAND LTD |
5,309,500 |
HKD |
19,658,636 |
2.36% |
|
TAIWAN MOBILE CO LTD |
5,016,000 |
TWD |
18,350,296 |
2.20% |
|
FIRSTRAND LTD |
3,422,200 |
ZAR |
16,810,411 |
2.01% |
|
ITC LTD |
3,900,000 |
INR |
15,689,825 |
1.88% |
|
ITAU UNIBANCO H SPON PRF ADR |
1,236,444 |
USD |
15,134,075 |
1.81% |
|
GRUPO FINANCIERO BANORTE O |
2,534,297 |
MXN |
13,838,572 |
1.66% |
|
KOMERCNI BANKA AS |
338,300 |
CZK |
13,717,827 |
1.64% |
|
LUKOIL PJSC SPON ADR |
193,400 |
USD |
13,100,916 |
1.57% |
|
PING AN INSURANCE GROUP CO H |
1,299,000 |
HKD |
12,836,488 |
1.54% |
|
BANK PEKAO SA |
413,000 |
PLN |
12,661,090 |
1.52% |
|
HANG LUNG PROPERTIES LTD |
5,419,000 |
HKD |
12,623,362 |
1.51% |
|
GRUPO AEROPORTUARIO CEN ADR |
310,357 |
USD |
12,588,080 |
1.51% |
|
AMBEV SA |
2,248,700 |
BRL |
12,360,278 |
1.48% |
|
ITAUSA INVESTIMENTOS ITAU PR |
3,837,200 |
BRL |
12,313,942 |
1.48% |
|
TAIWAN SEMICONDUCTOR SP ADR |
308,300 |
USD |
12,116,190 |
1.45% |
|
HONG KONG EXCHANGES + CLEAR |
359,927 |
HKD |
11,899,248 |
1.43% |
|
SBERBANK OF RUSSIA PJSC |
3,345,100 |
RUB |
11,809,685 |
1.42% |
|
HOUSING DEVELOPMENT FINANCE |
420,000 |
INR |
11,272,474 |
1.35% |
|
BHP BILLITON PLC |
484,300 |
ZAR |
10,890,951 |
1.31% |
|
KIMBERLY CLARK DE MEXICO A |
6,174,700 |
MXN |
10,466,743 |
1.25% |
|
TELEKOMUNIKASI INDONESIA PER |
41,797,800 |
IDR |
10,440,671 |
1.25% |
|
BANCO SANTANDER CHILE ADR |
304,890 |
USD |
10,183,326 |
1.22% |
|
AIA GROUP LTD |
1,133,000 |
HKD |
10,147,107 |
1.22% |
|
TATA CONSULTANCY SVCS LTD |
190,000 |
INR |
10,056,270 |
1.21% |
|
MTN GROUP LTD |
1,089,700 |
ZAR |
9,944,818 |
1.19% |
|
JSE LTD |
659,876 |
ZAR |
9,925,547 |
1.19% |
|
TRUWORTHS INTERNATIONAL LTD |
1,468,500 |
ZAR |
9,894,429 |
1.19% |
|
ENEL CHILE SA ADR |
1,709,600 |
USD |
9,676,336 |
1.16% |
|
LAND + HOUSES PUB CO FOR REG |
26,860,400 |
THB |
9,594,503 |
1.15% |
|
INFOSYS LTD SP ADR |
518,300 |
USD |
9,495,256 |
1.14% |
|
HINDUSTAN UNILEVER LTD |
400,000 |
INR |
9,319,376 |
1.12% |
|
YUM CHINA HOLDINGS INC |
229,500 |
USD |
8,897,715 |
1.07% |
|
INDOCEMENT TUNGGAL PRAKARSA |
6,747,700 |
IDR |
8,788,170 |
1.05% |
|
SAFARICOM PLC |
30,565,000 |
KES |
8,767,521 |
1.05% |
|
BHARTI INFRATEL LTD |
1,800,000 |
INR |
8,380,564 |
1.00% |
|
HSBC HOLDINGS PLC |
854,041 |
HKD |
8,323,223 |
1.00% |
|
HANGZHOU HIKVISION DIGITAL A |
1,360,077 |
CNY |
8,213,691 |
0.98% |
|
HERO MOTOCORP LTD |
155,000 |
INR |
8,086,653 |
0.97% |
|
WALMART DE MEXICO SAB DE CV |
3,112,500 |
MXN |
8,034,927 |
0.96% |
|
JERONIMO MARTINS |
490,200 |
EUR |
7,995,406 |
0.96% |
|
BANCO BRADESCO S.A. |
1,058,500 |
BRL |
7,965,373 |
0.95% |
|
ADVANCED INFO SERVICE FOR RG |
1,295,900 |
THB |
7,897,620 |
0.95% |
|
HANA MICROELECTRONICS FOREIG |
7,209,700 |
THB |
7,826,792 |
0.94% |
|
ULTRAPAR PARTICPAC SPON ADR |
574,400 |
USD |
7,656,752 |
0.92% |
|
TURKIYE GARANTI BANKASI |
3,801,400 |
TRY |
7,464,387 |
0.89% |
|
PACIFIC BASIN SHIPPING LTD |
28,115,000 |
HKD |
7,325,456 |
0.88% |
|
ENERJISA ENERJI AS |
5,198,400 |
TRY |
7,116,192 |
0.85% |
|
GRASIM INDUSTRIES REG S GDR |
401,300 |
USD |
6,099,760 |
0.73% |
|
BANCO BRADESCO ADR |
727,650 |
USD |
6,039,495 |
0.72% |
|
TELEFONICA BRASIL S.A. |
528,500 |
BRL |
6,008,793 |
0.72% |
|
SIAM CITY CEMENT PCL FOR |
796,699 |
THB |
5,962,978 |
0.71% |
|
M P EVANS GROUP PLC |
567,527 |
GBP |
5,818,163 |
0.70% |
|
AMBUJA CEMENT REG S GDR |
1,782,700 |
USD |
5,562,024 |
0.67% |
|
HDFC BANK LTD ADR |
54,500 |
USD |
5,283,230 |
0.63% |
|
PARQUE ARAUCO S.A. |
1,762,766 |
CLP |
5,189,583 |
0.62% |
|
CIMSA CIMENTO SANAYI VE TIC |
1,995,784 |
TRY |
4,829,402 |
0.58% |
|
AMBEV SA ADR |
835,100 |
USD |
4,551,295 |
0.55% |
|
BRD GROUPE SOCIETE GENERALE |
1,329,200 |
RON |
4,387,684 |
0.53% |
|
EQUITY GROUP HOLDINGS LTD |
8,766,100 |
KES |
4,201,145 |
0.50% |
|
CASH & CASH EQUIVALENTS |
48,479,275 |
5.81% |
||
|
OTHER SECURITIES UNDER .5% MARKET VALUE |
31,718,002 |
3.80% |
As previously announced, the Fund commenced a tender offer, which together with a special distribution of capital gains, aggregates to approximately 41% of the assets as of April 27, 2018. The tender offer and special distribution could result in further changes to the composition noted above.
Important Information
Aberdeen Asset Management Inc. (the “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 Managers Limited (the “Investment 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. The Investment Adviser and the Administrator are each a subsidiary of Aberdeen Asset Management PLC (“Aberdeen PLC”).
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.
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.
If you wish to receive this press release electronically, please contact: [email protected]
aberdeenaef.com
[1] Leverage is not currently used.
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SOURCE Aberdeen Emerging Markets Equity Income Fund, Inc.
