Profile: Aberdeen Chile Fund Inc (CH)
26 Jul 2016
The Chile Fund, Inc. (the Fund), incorporated in January 1989, is registered as a closed-end, non-diversified management investment company. The Fund's investment focuses to seek total return, consisting of capital appreciation and current income through investments primarily in Chilean equity and debt securities. The Chile Fund commenced investment operations on September 27, 1989. Credit Suisse Asset Management, LLC serves as the Fund's investment adviser with respect to all investments while Celfin Capital Servicios Financieros S.A. serves as its Chilean sub-adviser.
During the year ended December 31, 2005, the Chile Fund had investments in various sectors, such as banking, chemicals-diversified, diversified operations, electric-integrated, food and beverages, food-retail, infrastructure, paper and related products, retail-diversified, retail-major department stores, steel and telephone-integrated. At December 31, 2005, the Fund's largest holdings were Empresa Nacional de Electricidad S.A., Empresas Copec S.A., Empresas CMPC S.A., Banco Santander Chile S.A., Vina Concha y Toro S.A., Cencosud S.A., S.A.C.I. Falabella, S.A., Compania Cervecerias Unidas S.A., Enersis S.A. and Embotelladora Andina S.A.
Sector allocation was marginally positive to relative performance. The Fund's overweight in consumer discretionary and its underweight in industrials and telecommunications services helped increase returns. On the negative side, the Fund's overweight in consumer staples and underweight in utilities detracted from returns.
At the stock level, the Fund's positions in Comercial Siglo XXI, which owns a department store (La Polar); Empresa Nacional de Electricidad, and non-benchmark Laboratorios Andromaco boosted returns. Its underweight in Lan Airlines (1.4%) and Madeco also contributed positively on the Fund's performance. On the negative side, the Fund's overweight in Compania Cervecerias Unidas (4. 5%) and underweight in Enersis (4.3%) negatively affected returns.
Aberdeen Chile Fund Inc
1735 Market St Fl 32
PHILADELPHIA PA 19103-7503