PHILADELPHIA, June 26 /PRNewswire-FirstCall/ -- Aberdeen Australia Equity Fund, Inc. (the "Fund") (Amex: IAF), a closed-end equity fund, announced today its performance data and portfolio composition as of May 31, 2008.
The Fund's total returns for various periods through May 31, 2008 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 762.9 10.1 807.1 10.3
(December 1985)
10-years 355.5 16.4 492.5 19.5
5-years 219.5 26.2 277.5 30.4
3-years 96.5 25.3 98.4 25.7
1-year 12.7 13.6
The Fund's returns, which are denominated in U.S. dollars, are affected by the performance of the U.S. dollar against the Australian dollar.
On May 31, 2008, the Fund's net assets amounted to US$307.9 million and the Fund's NAV per share was $16.03.
As of May 31, 2008, the portfolio was invested as follows:
Portfolio Composition Percent of
Net Assets
Consumer Discretionary 8.6
Consumer Staples 15.7
Energy 4.4
Finance 26.1
HealthCare 1.1
Industrials 5.3
Materials 23.7
Other 4.4
Property 3.5
Technology 1.1
Telecommunications 1.4
Utilities 4.7
The Fund's ten largest equity holdings as of May 31, 2008, representing
58.4% of net assets, were:
Stock Percent of
Net Assets
BHP Billiton Limited 11.9
Rio Tinto Limited 8.2
QBE Insurance Group Limited 6.9
Australia & New Zealand Banking
Group Limited 5.4
Westpac Banking Corporation Limited 5.4
Woodside Petroleum Limited 4.4
Woolworths Limited 4.4
Wesfarmers Limited 4.2
Commonwealth Bank of Australia 4.1
Westfield Group Limited 3.5
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.
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 December 12, 1985.
If you wish to receive this information electronically, please contact:
InvestorRelations@aberdeen-asset.com
SOURCE Aberdeen Australia Equity Fund, Inc.
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