# Aberdeen Singapore Fund, Inc. (NYSE: SGF)
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Daily Data

At close Apr 23, 2014

Market Price$12.89
Unadjusted NAV**$14.49

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 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.


Asia-Pacific ex Japan Equities Video Update

Aberdeen's Hugh Young gives an update on the Asia-Pacific region and discusses why Aberdeen believes the positive outlook for Asia will remain intact for 2014.

Important Information

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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The Aberdeen Singapore Fund, Inc. (SGF) Fund Manager Interview

Senior Investment Manager Kristy Fong speaks about the Singaporean government’s on-going restructuring efforts, current equity valuations and expectations for fundamentals of Singapore companies, and why Aberdeen believes Singapore’s economy may benefit from a global recovery.

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Aberdeen Singapore Fund, Inc. Webcast Update

In this webcast, Aberdeen fund manager Kristy Fong gives an update on The Singapore Fund, Inc. Kristy touches on:

  • Fund recent performance and positioning
  • Recent portfolio changes
  • Macroeconomic update and outlook for the region
Investing in Asia Pacific

Asia by the Numbers

When consumers and investors think of Asia, they think of populous economies that are both sophisticated and well-established. But what about the surrounding boom of lesser-known economies? Asia isn’t just China and India: the rest of the continent is coming up in the world too, seeking to overtake other economies in a matter of years.

View Infograph


Fund Managers’ Monthly Report

February 2014

  • Singapore equities rebounded in February as Janet Yellen gave no surprises in her first testimony to Congress as U.S. Federal Reserve chief. She also reassured markets that the federal funds rate would be maintained at near-zero well past the time that unemployment falls below 6.5%. Some better domestic data also buoyed market sentiment.
  • Fourth-quarter 2013 gross domestic product growth was revised upward to 5.5% year-on-year, up from previous estimates of 4.4%.
  • The government budget for 2014 was announced. We found it interesting that, when questioned,the finance minister said that it was “too early to relax property measures. ” In our view, this indicates that if property prices do fall beyond a certain threshold, they may remove some of the curbs in a bid to support the market. We believe that this may benefit the Fund’s property holdings such as City Developments because, much as we had expected, it shows that the government does not want an overly large correction in home prices. Importantly, there were no tightening of rules on foreign workers, which we think could help the Fund’s holdings such as conglomerate Keppel Corp. and airport services provider SATS, which are more labor-intensive.
  • In February, we exited from the Fund’s position in Singapore Press Holdings, whose core newspaper business has been in gradual decline. Additionally, we believe the hidden value in the property business has largely been realized after it was spun off, and cash has been returned to shareholders in the form of a special dividend. The company was also trading at a higher valuation relative to its peers. We continued to add to the holding CapitaMallsAsia on share price weakness.
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Section 16 Filings
**** As of 11/01/2013, Fund name changed from The Singapore Fund, Inc.


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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