PHILADELPHIA, May 21, 2012 /PRNewswire/ -- Financial
advisors are increasingly turning to closed-end funds to develop
client investment solutions, according to the second annual survey
of financial advisors conducted on behalf of Aberdeen Asset
Management Inc., part of Aberdeen Group, the world's largest
manager of emerging market closed-end funds as determined by both
value and number.[1] The survey was conducted online from
March 29 to April 20, 2012 by Harris
Interactive and surveyed 508 financial advisors through an
intermediary panel of finance professionals managed by Harris.
Advisors surveyed cite that closed-end funds are suitable for
many types of accounts, particularly for post-retiree
income-generating purposes and individual retirement accounts.
Advisors state that income is the primary reason for including
closed-end funds in their recommendations citing ease of use,
ability to use leverage and access to active, professional
investment management. For additional details on the survey
results, click here.
Continued need for more closed-end fund information
"This year's study reconfirmed that advisors continue to
clamor for more information to help their clients understand the
benefits of closed-end funds," said Gary Marshall, Chief Executive Officer of
Aberdeen Asset Management Inc. "As the world's largest manager
of emerging market closed-end funds, we are delighted that their
portfolio construction and investment management advantages are
increasingly recognized by U.S. financial
advisors."
Significant results of the advisor survey include:
- 63% of advisors recommend closed-end funds, up from 52%
in 2011
- 50% of advisors cite that their clients implement their
closed-end fund recommendations, up from 45% in 2011
- 62% of advisors state that additional research coverage on
closed-end funds would improve their recommendations
- 45% of advisors state that increased client awareness and
understanding of closed-end funds would improve their
recommendations
- 64% of advisors recommend closed-end funds to clients between
the age of 45-65; 52% of advisors recommend closed-end funds to
clients under 45
The Leader in Emerging Market Closed-End
Funds
Aberdeen directly manages eleven U.S. exchange-listed closed-end
funds and one Canadian investment
company:
- Aberdeen Asia-Pacific Income Fund, Inc. (NYSE AMEX: FAX)
- Aberdeen Asia-Pacific Income Investment Company Limited (TSX:
FAP)
- Aberdeen Australia Equity Fund, Inc. (NYSE AMEX: IAF)
- Aberdeen Chile Fund, Inc. (NYSE AMEX: CH )*
- Aberdeen Emerging Markets Telecommunications and Infrastructure
Fund, Inc. (NYSE AMEX: ETF )
- Aberdeen Global Income Fund, Inc. (NYSE AMEX: FCO)*
- Aberdeen Indonesia Fund, Inc. (NYSE AMEX: IF )
- Aberdeen Israel Fund, Inc. (NYSE AMEX: ISL )
- Aberdeen Latin America Equity Fund, Inc. (NYSE AMEX: LAQ)
- The Asia Tigers Fund, Inc. (NYSE: GRR)
- The India Fund, Inc. (NYSE: IFN)
- The Singapore Fund, Inc. (NYSE: SGF)
In addition, Aberdeen serves as investment sub-advisor to two
other U.S. exchange-listed closed-end funds managed by First
Trust:
- First Trust /Aberdeen Global Opportunity Income Fund, Inc.
(NYSE AMEX: FAM)
- First Trust /Aberdeen Emerging Opportunity Fund, Inc. (NYSE
AMEX: FEO)
Additional information about the Funds is available by
contacting the Funds at 800.522.5465 or by visiting the Funds' web
site at www.aberdeen-asset.us/cef.
About Aberdeen Asset Management
Aberdeen Asset Management PLC, the parent company of Aberdeen
Asset Management Inc., is an independently-run asset manager listed
on the London Stock Exchange since 1991, and operating from 31
offices in 23 countries (the "Aberdeen Group"). The Aberdeen Group
invests on behalf of institutional and private clients, primarily
in equities, fixed income, alternative investment strategies and
property. The Aberdeen Group manages more than US$270.3 billion of assets for both institutions
and private individuals as of December 31,
2011.
In the United States, Aberdeen
Asset Management (AAM) is the marketing name for the following
affiliated, registered investment advisers: Aberdeen Asset
Management Inc., Aberdeen Asset Managers Ltd, Aberdeen Asset
Management Ltd and Aberdeen Asset Management Asia Ltd, each of
which is wholly owned by Aberdeen Asset Management PLC. "Aberdeen"
is a U.S. registered service mark of Aberdeen Asset Management
PLC.
About Harris Interactive
Harris Interactive is one of the world's leading custom market
research firms, leveraging research, technology and business acumen
to transform relevant insight into actionable foresight. Known
widely for the Harris Poll and for pioneering innovative research
methodologies, Harris offers expertise in a wide range of
industries, including health care, technology, public affairs,
energy, telecommunications, financial services, insurance, media,
retail, restaurant and consumer package goods. Serving clients in
more than 215 countries and territories through its North American,
European and Asian offices and a network of independent market
research firms, Harris specializes in delivering research solutions
that help clients stay ahead of what's next. For more information,
visit www.harrisinteractive.com.
*Investors should consider a fund's investment objectives,
risks, charges and expenses carefully before investing. A copy of
the prospectus for Aberdeen Chile Fund, Inc. and
Aberdeen Global Income Fund, Inc. that contains this and
other information about the funds may be obtained by calling
866-839-5205. Please read the prospectus carefully before
investing. Investing in funds involves risk, including possible
loss of principal.
Closed-end funds have a one-time initial public offering and
then are subsequently traded on the secondary market through one of
the stock exchanges. The 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 a fund will achieve
its investment objective. Past performance does not guarantee
future results.
The above is for information purposes only and should not be
considered as an offer, or solicitation, to deal in any of the
investments mentioned herein. AAMI does not warrant the accuracy,
adequacy or completeness of the information and materials contained
in this document and expressly disclaims liability for errors or
omissions in such information and materials.
[1] Fund Consultants LLC, March
2012. Based on analysis of emerging market closed-end funds
offered in multiple jurisdictions as of December 31, 2011; data provided by Morningstar
Inc. Closed-end funds are defined as investment companies that are
1) listed on a recognized exchange; 2) possess fixed share capital
and; 3) were formed via subscriptions from the public via an open
offer or placement. Criteria for inclusion in the emerging markets
category is based on the World Bank's definition of emerging
countries as measured by lower and middle income per capita.
Criteria for fund inclusion is 1) at least 75% of gross assets
invested in emerging markets; 2) funds with under 25% exposure to
Asian developed markets.
SOURCE Aberdeen Asset Management Inc.
