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Aberdeen Indonesia Fund, Inc. (NYSE MKT: IF)
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At close May 16, 2013
| NAV | $14.43 |
| Price | $13.04 |
| Premium/(Discount) | -9.63% |
| Unadjusted NAV** | $14.44 |
The NAV information is provided by the Fund's accounting agent. The price is as reported by the exchange on which the Fund trades. This information is unaudited and neither Aberdeen Asset Management PLC, its wholly owned subsidiaries, the Funds, nor any other person guarantees their accuracy.
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Aberdeen Indonesia Fund, Inc. (NYSE MKT: IF)
Investment Objective
The Fund seeks long-term capital appreciation as a primary objective and income as a secondary objective, by investing primarily in Indonesian securities.
For more detailed information on the specific risks associated with this fund, please view the Important Risk Considerations tab.
Investment Policies
It is the policy of the Fund to invest its assets in Indonesian equity and debt securities. For these purposes, “Indonesian securities” means securities traded principally on stock exchanges in Indonesia.
The information contained above provides only a brief summary description of the Fund's investment objective and investment policies.
Aberdeen Insights: Views from the Front Lines of Asia
View highlights of our live roundtable with Hugh Young, Aberdeen’s Managing Director and Head of Equities, and Anthony Michael, Aberdeen’s Head of Fixed Income Asia-Pacific, as they discuss their views on opportunities in the Asia region. To view the full replay, visit our Aberdeen Insights channel
Click to read disclaimerFund Managers’ Monthly Report
March 2013
- Indonesian equities rose sharply in February, as the MSCI Indonesia Index reached a new high. Foreign buying lifted stock prices, with net inflows for the year-to-date exceeding the value for all of 2012.
- Fourth-quarter gross domestic product (GDP) grew by 6.1%, supported by robust consumer spending and investment. Economic activity is expected to accelerate to 6.8% this year, up from 6.2% in 2012.
- Inflation rose to its highest since June 2011, because of a spike in food prices and the recent hike in electricity tariff. However, the central bank held interest rates unchanged at 5.75%, amid still-manageable inflation and a stable currency.
- For the full year of 2012, Bank OCBC NISP’s profits were driven by good loan growth, while conglomerate Astra International’s positive results were underpinned by its automotive, agriculture and infrastructure divisions. In contrast, coal mining company Indo Tambangraya Megah’s weak fourth-quarter earnings were within expectations, as lower selling prices and higher production costs overshadowed better sales volumes.
- In February, we initiated a position in United Tractors, a subsidiary of Astra International, which is the distributor for Komatsu heavy equipment and is a leading coal-mining operator and local mine owner
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Disclaimer
Pursuant to valuation policies adopted by the Board of Directors of the Fund, the Fund values foreign equity securities that primarily trade in certain markets that close ahead of the Fund’s daily 4:00 pm Eastern net asset value (“NAV”) calculation time at their fair values using prices provided by third-party independent pricing services. The fair value of each such security generally is calculated by applying a valuation factor provided by the independent pricing service to the last sales price for that security, or, if, the pricing service is unable to provide a fair value for a security, at the price at the close of the exchange on which it is principally traded, subject to adjustment by the Fund’s Pricing Committee. These daily fair valuations seek to reflect information available after the local market close that may affect the value of the foreign equity securities held by the Fund. As a result, this official NAV calculation reflects adjustments that may cause it to vary from a calculation based solely on closing prices. In contrast, the “Unadjusted NAV” of the Fund (shown above) is for informational purposes only and is computed using the closing prices on the relevant exchange. It does not reflect any daily fair valuation adjustments of the Fund’s foreign securities. The Unadjusted NAV does not represent the official NAV of the Fund, nor is the Unadjusted NAV used for Fund accounting or performance purposes. Investors should not rely upon the Unadjusted NAV when making their investment decisions.