PHILADELPHIA, April 23, 2019 /PRNewswire/ -- Aberdeen Global Income Fund, Inc. (the "Fund") (NYSE American: FCO), a closed-end bond fund, announced today its performance data and portfolio composition as of March 31, 2019.
The Fund's total returns for various periods through March 31, 2019 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price, and are stated net-of-fees):
NAV Total Return %
Market Price Total Return %
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 March 31, 2019, the portfolio was invested as follows:
Currency Exposure %
Geographic Exposure %
United States *
*Of which 63.4% is invested in US$ denominated bonds issued by foreign issuers.
**Europe is comprised of: Eastern Europe 8.3% and Western Europe 5.8%.
As of March 31, 2019, the top ten holdings of the portfolio based on total assets were as follows:
Coupon / Maturity
New Zealand Government Bond
Queensland Treasury Corporation
Treasury Corporation of Victoria
Australia Government Bond
Romania Government Bond
Ukraine Government Bond
South Africa Government Bond
Philippines Government Bond
Indonesia Government Bond
Petrobas Global Finance
As of March 31, 2019 the holdings of the portfolio represented approximately 47.5% sovereign and state government securities, 49.4% corporates and 3.1% cash.
As of March 31, 2019 the holdings of the portfolio represented approximately 53.0% invested in Developed Markets, 17.7% in Investment Grade Developing Markets and 29.3% in Sub-Investment Grade Developing Markets. Developed Markets are those countries contained in the Citigroup World Government Bond Index, New Zealand, Luxembourg and the Hong Kong Special Administrative Region. Investment Grade Developing Markets are those countries whose sovereign debt is rated not less than Baa3 by Moody's Investors Services Inc. ("Moody's") or BBB- by Standard & Poor's ("S&P") or comparably rated by another appropriate nationally or internationally recognized ratings agency. Sub-Investment Grade Developing Markets are those countries that are not Developed Markets or Investment Grade Developing Markets.
As of March 31, 2019, the Fund's net assets, including US$28.6 million in bank borrowing, amounted to US$98.3 million with a net asset value per share of common stock of US$7.99.
As of March 31, 2019, 16.1% of the portfolio was invested in securities where either the issue or the issuer was rated "A" or better by multiple rating agencies. The credit quality and maturity breakdown of the portfolio was as follows:
Credit Quality (%)
As of March 31, 2019, the average maturity of the portfolio was 9.4 years.
The Fund has in place leverage in the form of a loan facility. The outstanding balance on the loan as of March 31, 2019 is US$28,600,000, which represents no change from the previous month.
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 a portion 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.
Aberdeen Standard Investments Inc. has prepared this report based on information sources believed to be accurate and reliable. However, the figures are unaudited and neither the Fund, its 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.
Aberdeen Standard Investments is a brand of the investment businesses of Standard Life Aberdeen plc, its affiliates and subsidiaries. In the United States, Aberdeen Standard Investments is the marketing name for the following affiliated, registered investment advisers: Aberdeen Standard Investments Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard Investments Australia Ltd., Aberdeen Standard Investments (Asia) Ltd., Aberdeen Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Standard Life Investments (Corporate Funds) Ltd.
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.
Past performance is no guarantee of future results. Investment returns and principle value will fluctuate and shares, when sold, may be worth more or less than original cost. Current performance may be lower or higher than the performance quoted. NAV return data includes investment management fees, custodial charges and administrative fees (such as Director and legal fees) and assumes the reinvestment of all distributions. Returns for periods less than one year are not annualized. 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. Inception date March 12, 1992.
If you wish to receive this information electronically, please contact Investor.Relations@aberdeenstandard.com
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SOURCE Aberdeen Global Income Fund, Inc.