Aberdeen Global Income Fund, Inc. Announces Performance Data and Portfolio Composition
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Aberdeen Global Income Fund, Inc. Announces Performance Data and Portfolio
Composition
PHILADELPHIA, June 30 /PRNewswire-FirstCall/ -- Aberdeen Global Income Fund,
Inc. (the "Fund") (NYSE AMEX: FCO), a closed-end bond fund, announced today
its performance data and portfolio composition as of May 31, 2009.
The Fund's total returns for various periods through May 31, 2009 are provided
below. (All figures are based on distributions reinvested at the dividend
reinvestment price, and are stated net-of-fees):
Period NAV Total Return % Market Price Total Return %
Cumulative Annualized Cumulative Annualized
Since Inception 232.0 7.2 225.6 7.1
(March 1992)
10-years 90.0 6.6 143.5 9.3
5-years 29.0 5.2 41.9 7.3
3-years 5.9 1.9 18.1 5.7
1-year -8.1 6.1
The Fund's returns, which are denominated in U.S. dollars, are affected by the
performance of the U.S. dollar against the various currencies listed below.
As of May 31, 2009, the portfolio was invested as follows:
Currency Exposure % * Geographic Exposure %
Australia 23.5 23.5
United Kingdom 0.3 10.3
Canada 11.7 15.2
New Zealand 12.8 19.8
United States ** 47.3 0.6
Europe (ex UK) 0.6 2.2
Asia 1.2 10.6
Emerging Markets 2.6 17.8
* Currency allocations include impact of all foreign forward currency exchange
contracts.
** Of which 23.1% is invested in US$ denominated bonds issued by foreign
issuers.
As of May 31, 2009, the Fund's net assets, including US$30 million in bank
borrowing, amounted to US$124.5 million with a net asset value per share of
common stock of US$10.50.
As of May 31, 2009, 69.3% of the portfolio was invested in securities where
either the issue or the issuer was rated "A" or better, or judged by the
Investment Manager to be of equivalent quality. The credit quality and
maturity breakdown of the portfolio was as follows:
Credit Quality (%)
-----------------
AAA/Aaa AA/Aa A BBB/Baa BB/Ba B CCC
40.4 15.5 13.4 9.7 17.9 2.8 0.3
As of May 31, 2009, the average credit quality of the portfolio was A+.
Maturity (%)
------------
<3 Years 3-5 Years 5-10 Years >10 Years
26.2 20.1 29.0 24.7
As of May 31, 2009, the average maturity of the portfolio was 10.0 years.
A revolving credit loan facility, in the amount of $30,000,000, was entered
into on March 7, 2008 with the Bank of Nova Scotia, in order to fund the
redemption of the Fund's Auction Market Preferred Stock ("AMPS") that took
place in March 2008. The leverage is used with the intent of enhancing
returns by borrowing at interest rates that are lower than the relatively
higher yields of the emerging market fixed income securities in which the Fund
invests. The Fund has entered into interest rate swap agreements in order to
fix the interest payable on an aggregate notional amount of $19.4 million,
which represents 65% of the bank loan facility. Details regarding the
revolving credit loan facility and the interest rate swap agreements are
contained in the Fund's annual and semi-annual reports to shareholders.
Important Information
Aberdeen Asset Management Inc., the Fund's 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 Management Asia Limited (the Investment Manager), Aberdeen
Asset Management 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. Aberdeen is a U.S. registered
service mark of Aberdeen Asset Management PLC.
Total return figures with distributions reinvested at the dividend
reinvestment price are stated net-of-fees and represents past performance.
Past performance is not indicative of future results, current performance may
be higher or lower. Inception date March 12, 1992.
If you wish to receive this information electronically, please contact
InvestorRelations@aberdeen-asset.com
SOURCE Aberdeen Global Income Fund, Inc.
Investor Relations, Aberdeen Asset Management Inc., +1-866-839-5233,
InvestorRelations@aberdeen-asset.com
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