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

At close Feb 26, 2015

Market Price$11.85
Unadjusted NAV**$13.37

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


Aberdeen Singapore Fund, Inc. Webcast Update

Investment Manager James Thom gives an overview of the Aberdeen Singapore Fund, Inc. and provides some commentary on the outlook for the rest of 2014.

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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Fund Managers’ Monthly Report

December 2014

  • The Singapore stock market was lifted in December by expectations of further monetary stimulus in China and Europe, while the U.S. Federal Reserve 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 led to losses in U.S. dollar terms.
  • Fourth-quarter gross domestic product (GDP) growth disappointed at 1.5% annualized, as the manufacturing sector contracted. Headline inflation turned negative for the first time in five years, owing to lower car and housing costs.
  • In Fund-related corporate news, Keppel Corp.’s offshore and marine subsidiary won a contract to build one of the world’s largest land-drilling rigs valued at over US$100 million. We believe this is an encouraging sign, as demand for the company’s rigs appears resilient even amid the challenging outlook for the sector.
  • The Fund’s real estate holdings made foreign acquisitions to tap into growth prospects overseas. CDL Hospitality Trusts purchased two Tokyo hotels for S$66 million (about US$49.8 million). The purchases increase yields and enable the trust to capitalize on expected growth in tourist arrivals. Fund holding CapitaLand’s subsidiary, Ascott, is buying a 185-unit serviced residence in Jakarta from its long-time Indonesian partner, Ciputra Property, for S$90 million (approximately US$67.9 million). Keppel Corp.’s listed subsidiary, Keppel Land,* will acquire 75% of Array Real Estate, a Hong Kong retail management firm. Straits Trading made its first property acquisition in China, paying S$142 million (roughly US$107 million) for a retail mall in Chongqing.
  • Over the month, we took some profits from Singapore Airlines and Singapore Exchange given their recent stock price rises, while we also added to Keppel Corp. and ST Engineering on share price weakness.

*The Fund does not hold shares in Keppel Land.

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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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