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The Singapore Fund, Inc. (NYSE: SGF)
- (EDT)
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At close May 21, 2013
| NAV | $16.24 |
| Price | $14.43 |
| Premium/(Discount) | -11.15% |
| Unadjusted NAV** | $16.24 |
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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The Singapore Fund, Inc. (NYSE: SGF)
Investment Objective
The Fund’s investment objective is long-term capital appreciation which it seeks through investment primarily in Singapore equity securities.
For more detailed information on the specific risks associated with this fund, please view the Important Risk Considerations tab.
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
February 2013
- Singapore equities rose in January amid signs of improvement in the global economy. A last-minute compromise by U.S. lawmakers forestalled the “fiscal cliff,” while Eurozone worries eased.
- In December, inflation quickened, driven by higher housing and transportation costs. Compared to the previous month, industrial production beat expectations in December, boosted by the pharmaceutical sector. Exports, however, fell sharply from a year earlier.
- The government introduced harsh anti-speculation curbs aimed at residential and industrial properties.
- In Fund-related news, Singapore Exchange’s second-quarter 2013 profits rebounded from a year ago, aided by its derivatives business and good cost controls. Conglomerate Keppel Corp.’s full-year 2012 earnings were buoyed by robust property sales and margin stabilization at its offshore and marine unit. Wheelock Properties will sell its 17.9% stake in SC Global to the latter company’s chairman and chief executive Simon Cheong at S$1.80 (approximately US$1.45) per share, realizing a gain of S$92.6 million (roughly US$74.8 million).
- In January, we completed the swap of one share of WBL Corp. for 1.07 shares of its parent, conglomerate Straits Trading Company. The transaction follows a prolonged engagement with WBL’s management on the issue of unlocking value. We believe Straits Trading’s enlarged position in WBL will allow it to achieve this for the benefit of shareholders.
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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.