PHILADELPHIA, Nov. 21, 2017 /PRNewswire/ -- Aberdeen
Latin America Equity Fund, Inc. (the "Fund") (NYSE American:
LAQ), a closed-end equity fund, announced today its performance
data and portfolio composition as of October
31, 2017.
The Fund's total returns for various periods through
October 31, 2017 are provided
below. (All figures are based on distributions reinvested at
the dividend reinvestment price and are stated
net-of-fees):
|
Cumulative as of
10/31/17
|
Annualized as of
10/31/17
|
|
1
Month
|
3
Month
|
YTD
|
1
Year
|
3
Years
|
5
Years
|
10
Years
|
Since
Inception
|
NAV
|
-4.3
|
2.8
|
27.9
|
14.3
|
2.1
|
-0.6
|
1.0
|
10.0
|
Market
Price
|
-2.6
|
6.5
|
34.6
|
19.6
|
2.6
|
-0.4
|
1.4
|
9.6
|
MSCI Emerging
Markets Latin
America
|
-3.6
|
2.5
|
22.4
|
10.5
|
-1.2
|
-2.3
|
-2.0
|
10.0¹
|
On October 31, 2017, the Fund's
net assets amounted to US$216.8
million and the Fund's NAV per share was US$29.10.
As of October 31, 2017, the
portfolio was invested as follows:
Portfolio
Composition
|
Percent of
Net Assets
|
Financials
|
27.9
|
Consumer
Staples
|
21.8
|
Consumer
Discretionary
|
13.4
|
Industrials
|
11.5
|
Real
Estate
|
7.2
|
Materials
|
7.0
|
Energy
|
5.1
|
Information
Technology
|
3.7
|
Health
Care
|
1.6
|
Cash
|
0.7
|
Portfolio Composition
|
Geographic Exposure %
|
Brazil
|
61.1
|
Mexico
|
20.0
|
Chile
|
11.5
|
Argentina
|
3.6
|
Peru
|
2.2
|
Colombia
|
1.2
|
United
States
|
0.4
|
The Fund's ten largest equity holdings as of October 31, 2017, representing 46.2% of net
assets, were:
Stock
|
Percent of Net
Assets
|
Banco
Bradesco
|
7.6
|
Itau
Unibanco
|
7.3
|
Lojas
Renner
|
5.2
|
AMBEV
|
4.9
|
Multiplan
Empreendimentos
|
4.0
|
Ultrapar
Participacoes
|
3.9
|
FEMSA
|
3.8
|
Grupo Financiero
Banorte
|
3.4
|
S.A.C.I.
Falabella
|
3.3
|
Vale
|
2.9
|
Important Information
Aberdeen
Asset Management Inc. (the "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 Managers 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.
The Investment Adviser and the Administrator are each a
subsidiary of Aberdeen Asset Management PLC ("Aberdeen PLC").
The merger of Standard Life plc and Aberdeen PLC, announced on
March 6, 2017 ("Merger"), closed on
August 14, 2017. Aberdeen PLC
became a direct subsidiary of Standard Life plc as a result of the
Merger and the combined company changed its name to Standard Life
Aberdeen plc. Shareholders of the Fund are not required to take any
action as a result of the Merger. Following the Merger, the Fund's
Investment Adviser and Administrator are each an indirect
subsidiary of Standard Life Aberdeen plc, but otherwise did not
change. The investment advisory and administration agreements for
the Fund, the services provided under the agreements, and the fees
charged for services did not change as a result of the Merger. The
portfolio management team for the Fund did not change as a result
of the Merger.
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 October 30, 1991.
If you wish to receive this information
electronically, please contact:
InvestorRelations@aberdeen-asset.com
¹ For the MSCI Emerging Markets Latin America benchmark, the
returns provided for since inception are based on month-end level
valuations as of October 31,
1991.
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SOURCE Aberdeen Latin America Equity Fund, Inc.