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

At close Sep 18, 2014

Market Price$12.64
Unadjusted NAV**$14.27

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

July 2014

  • The Singapore stock market rose in July on the back of better economic data from China and the U.S., while concerns about heightened geopolitical risk in Ukraine pared gains. Positive news flow from the domestic banks also lifted the MSCI Singapore Index, such as Oversea-Chinese Banking Corp’s (OCBC) successful acquisition of Hong Kong's Wing Hang Bank, and DBS's results that beat forecasts.
  • Estimated second-quarter gross domestic product grew by 2.1%, weighed down by weak manufacturing output, mainly in electronics.
  • In corporate news and second-quarter results, OCBC garnered enough shares to de-list Hong Kong lender Wing Hang Bank, despite the hedge fund Elliott Management's attempt to block the privatization. We have a positive view on OCBC's expansion into the Greater China region. Elsewhere, DBS posted robust earnings growth on the back of healthy increases in loans and deposits, along with wider interest margins. United Overseas Bank’s (UOB) results were relatively weaker year-over-year.
  • Keppel Corp. posted robust profits on the back of its offshore and marine division, which offset weakness in its property and infrastructure segments. The firm, together with Sembcorp Marine, added to their solid order books even as the offshore and marine sector is experiencing a period of adjustment.
  • Over the month, we added to the Fund’s position in Yoma Strategic Holdings on relative share price weakness, and trimmed Jardine Cycle & Carriage on strong price performance.
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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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