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Aberdeen Latin America Equity Fund, Inc. is a close-ended equity mutual fund launched and managed by Aberdeen Asset Management Investment Services Ltd. It is co-managed by Celfin Capital Servicios Financieros S.A. The fund invests in the public equity markets of Latin American. It invests primarily in the equity securities of Mexico, Brazil, Chile, Argentina, and other Latin American countries. The fund primarily makes its investments in stocks of companies across all capitalizations. It employs a fundamental analysis with a bottom-up stock picking approach focusing on growth prospects, attractive valuations, and corporate, global and local political, economic, and industry trends to create its portfolio. The fund benchmarks the performance of its portfolios against the MSCI Latin America Index. It was formerly known as The Latin America Equity Fund, Inc. Aberdeen Latin America Equity Fund, Inc. was formed on October 30, 1991 and is domiciled in United States.
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Press Release $LAQ Aberdeen Latin America Equity Fund, Inc.
PHILADELPHIA, Jan. 7, 2013 /PRNewswire/ -- Aberdeen Latin America Equity Fund, Inc. (the "Fund") (NYSE MKT: LAQ), a closed-end equity fund, announced today its performance data and portfolio composition as of November 30, 2012.
(Logo: http://photos.prnewswire.com/prnh/20121106/NE07292LOGO)
The Fund's total returns for various periods through November 30, 2012 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):
Period
NAV Total Return %
Market Price Total Return %
Cumulative
Annualized
Cumulative
Annualized
Since inception
(October 1991)
1,128.6
12.6
996.4
12.0
10-years
735.6
23.6
807.5
24.7
5-years
21.5
4.0
23.6
4.3
3-years
22.5
7.0
22.5
7.0
1-year
13.0
13.8
On November 30, 2012, the Fund's net assets amounted to US$285.7 million and the Fund's NAV per share was $38.35.
As of November 30, 2012, the portfolio was invested as follows:
Portfolio Composition
Percent of
Net Assets
Financials
26.5
Consumer, Non-Cyclical
22.4
Basic Materials
13.2
Industrials
13.2
Consumer, Cyclical
11.9
Energy
7.9
Technology
1.6
Utilities
1.5
Cash
0.7
Communications
0.6
Diversified
0.5
The Fund's ten largest equity holdings as of November 30, 2012, representing 51.5% of net assets, were:
Stock
Percent of
Net Assets
Vale S.A.
8.9
Petroleo Brasileiro S.A.
7.9
Banco Bradesco S.A.
6.5
Itau Unibanco Holding S.A.
4.6
Grupo Financiero Banorte, S.A.B. de C.V.
4.5
Lojas Renner S.A.
4.3
Fomento Economico Mexicano, S.A.B. de C.V.
4.0
Multiplan Empreendimentos Imobiliarios S.A.
3.7
Tenaris S.A.
3.6
Ultrapar Participacoes S.A.
3.5
Important Information
Aberdeen Asset Management Inc. has prepared this report based on information sources believed to be accurate and reliable. However, the figures are unaudited and neither the Fund, Aberdeen Asset Managers Limited (effective March 1, 2012, the Investment Adviser), nor any other person guarantees their accuracy. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information. Aberdeen is a U.S. registered service mark of Aberdeen Asset Management PLC.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.
Total return figures with distributions reinvested at the dividend reinvestment price are stated net-of-fees and represents past performance. Past performance is not indicative of future results, current performance may be higher or lower. Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown. Inception date October 30, 1991.
If you wish to receive this information electronically, please contact: InvestorRelations@aberdeen-asset.com
SOURCE Aberdeen Latin America Equity Fund, Inc.