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

At close Oct 23, 2014

Market Price$12.25
Unadjusted NAV**$13.85

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

August 2014

  • The Singaporean stock market fell in August as economic data from China and Europe were weak, while geopolitical tensions heightened between the West and Russia over Ukraine.
  • Domestic economic growth slowed to 2.4% in the second quarter, as the manufacturing sector softened, while the services and construction segments also moderated. Non-oil domestic exports contracted by 3.3% year-on-year in July, but the rate of decline decelerated, possibly indicating that shipments of manufactured goods were bottoming out.
  • In Fund-related corporate news, amid an increasingly competitive domestic environment, performance among the local banks was mixed, although loan growth remained robust. On an individual level, DBS posted solid second-quarter results, with non-performing loans on a downward trend and improving net interest margins. OCBC was buoyed by higher trading income and life assurance profits. The bank has announced plans to raise $3.3 billion in a rights issue to fund its acquisition of Wing Hang Bank. UOB registered the most muted performance of the three local banks, as its loan book has the largest exposure to the slowing domestic real estate sector, although profits were lifted by trading gains.
  • Singapore Telecommunications was resilient, marking higher profits after adjusting for one-off items. In the healthcare sector, Raffles Medical’s earnings were higher on the back of clinic expansion and an increase in patient visits.
  • Over the month, we initiated a position in KrisEnergy, an undervalued oil exploration and production company with reserves encompassing a number of fields in Asia. The company is managed by a seasoned team with a strong track record, in our view.
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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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