PHILADELPHIA, June 20, 2016 /PRNewswire/ -- Aberdeen Australia Equity Fund, Inc. (the "Fund") (NYSE MKT: IAF), a closed-end equity fund, announced today performance data and portfolio composition information as of May 31, 2016.
The Fund's total returns for various periods through May 31, 2016 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):
| Cumulative as of 05/31/16 (%) | Annualized as of 05/31/16 (%) |
| 1 Month | 3 Month | YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since
Inception |
| NAV | -2.0 | 11.5 | 4.4 | -5.2 | -2.4 | -2.0 | 4.1 | 7.1 |
| Market Price | 1.2 | 17.8 | 9.0 | -5.5 | -6.5 | -4.5 | 2.8 | 6.9 |
| S&P/ASX
200 | -2.1 | 13.2 | 3.2 | -7.6 | -1.9 | -0.4 | 4.9 | n/a¹ |
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, 2016, the Fund's net assets amounted to US$142.1 million and the Fund's NAV per share was US$6.24.
¹ There is no since inception figure for the S&P/ASX 200 Index because the inception date of the Index is April 3, 2000.
As of May 31, 2016, the portfolio was invested as follows:
| Portfolio Composition | Percent of Net Assets |
| Financials | 36.3 |
| Health Care | 16.1 |
| Materials | 15.2 |
| Utilities | 7.3 |
| Energy | 5.9 |
| Telecommunications | 5.0 |
| Industrials | 3.6 |
| Consumer Staples | 3.2 |
| Consumer Discretionary | 2.9 |
| Other Assets in Excess of Liabilities | 4.5 |
The Fund's ten largest equity holdings as of May 31, 2016, representing 50.3% of total assets, were:
| Stock | Percent of
Total Assets |
| CSL Ltd. | 6.7 |
| Commonwealth Bank of Australia | 5.5 |
| ASX Ltd. | 5.5 |
| Westpac Banking Corporation | 5.4 |
| Telstra Corp Ltd. | 5.1 |
| Westfield Corporation | 4.7 |
| Rio Tinto PLC | 4.6 |
| AGL Energy Ltd. | 4.5 |
| AMP Ltd. | 4.2 |
| Scentre Group | 4.1 |
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.
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.
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. 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 December 12, 1985.
If you wish to receive this information electronically, please contact: InvestorRelations@aberdeen-asset.com
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SOURCE Aberdeen Australia Equity Fund, Inc.
CONTACT: Aberdeen Asset Management Inc., Investor Relations, 800-522-5465, InvestorRelations@aberdeen-asset.com
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