# Aberdeen Indonesia Fund, Inc. (NYSE MKT: IF)
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Daily Data

At close Feb 27, 2015

Market Price$8.05
Unadjusted NAV**$8.98

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’s primary investment objective is long-term capital appreciation with income as a secondary objective, which the Fund seeks to achieve by investing primarily in Indonesian equity and debt securities. For these purposes, “Indonesian securities” means securities traded principally on stock exchanges in Indonesia.

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.

Hugh Young

Asian Equities Fund Manager Interview

The Association of South East Asian Nations (ASEAN) region has been a major part of Aberdeen’s Asian equity portfolios for quite some time. Aberdeen’s Head of Asian Equities, Hugh Young, speaks to the equity performance of ASEAN countries and explains why he believes the ASEAN region presents compelling investment opportunities.

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Bharat Joshi

Fund Manager Interview

Investment Manager Bharat Joshi discusses Indonesia’s incoming president, economy performance, investment opportunities and Fund performance.

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Fund Managers’ Monthly Report

December 2014

  • The Indonesian stock market rose in December after the U.S. Federal Reserve (Fed) pledged patience in hiking interest rates. Gains were pared by concerns over weaker economic data in China and possible emerging market contagion from a collapsing Russian ruble, amid the continued plunge in oil prices. An appreciating U.S. dollar, on the back of investor risk-aversion, led to losses in U.S. dollar terms.
  • The rupiah hit a 16-year low on expectations that the Fed’s normalizing of monetary policy would spur capital outflows. Nonetheless, the Indonesian central bank kept interest rates steady after its November hike. However, 10-year government bond yields rose above 8% as inflation spiked due to the reduction in fuel subsidies.
  • President Joko Widodo, in one of the biggest reforms in the energy sector in decades, scrapped the subsidy for gasoline and fixed the diesel subsidy at 1,000 rupiah (about US$0.08) per liter. This will allow prices to float in line with global markets. In Fund-related corporate news, Astra International and Hong Kong Land will jointly invest over US$500 million to build the Astra office tower and Anandamaya Residences in central Jakarta. Fuel distributor AKR Corporindo may benefit greatly from the removal of fuel subsidies, as it will be free from quotas to sell fuel. The company is striving to increase fuel volumes by up to 20% in 2015, increasing capital expenditure to expand its network of fuel stations. Telco XL Axiata sold and leased back 3,500 mobile towers from Solusi Tunas Pratama (which the Fund does not hold) for a 10-year period. The company will use the US$460 million in sale proceeds to repay debt.
  • There were no major changes to the Fund in December.
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Section 16 Filings


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.

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