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Aberdeen Asia-Pacific Income Investment Company Limited Announces Monthly Distribution And Estimated Earnings – Canada NewsWire

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4 years ago

 on


TORONTO, Oct. 9, 2020 /CNW/ — Aberdeen Asia-Pacific Income Investment Company Limited (TSX: FAP) (the “Company”), a closed-end investment company trading on the Toronto Stock Exchange, announced today that it will pay a monthly distribution of CAD 2.25 cents per ordinary share on October 30, 2020 to all ordinary shareholders of record as of October 19, 2020 (ex-dividend date October 16, 2020).

The policy of the Company’s Board of Directors is to maintain a stable monthly distribution out of net investment income and realized capital gains supplemented with paid-in capital as required. This policy is subject to regular review at the Board’s quarterly meetings.

The following table sets forth the estimated amounts and the sources of the distributions. The figures in the table below have been computed based on international financial reporting standards. The table includes estimated amounts and percentages for the distribution to be paid on October 30, 2020 as well as the estimated cumulative distributions declared fiscal year to date (11/01/2019 – 09/30/2020), from the following sources: net investment income; net realized gains; return of capital; and return of par.  The final composition of the distributions is subject to change and may be impacted by future income, expenses and realized gains and losses on securities and currencies. Although a portion of any distribution may be recorded as a return of capital, the full amount of the distribution (other than a return of par) will be foreign income for Canadian income tax purposes.

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Estimated Amounts of Current Monthly Distribution per share (C$)

Estimated Amounts of Current Monthly Distribution per share (%)

Estimated Amounts of Fiscal Year to Date Cumulative Distributions per share (C$)

Estimated Amounts of Fiscal Year to Date Cumulative Distributions per share (%)

Net Investment Income

$0.0194

86%

$0.2322

86%

Net Realized Gains

$0.0031

14%

$0.0378

14%

Return of Capital

–

–

–

–

Return of Par

–

–

–

–

Total (per common share)

$0.0225

100%

$0.2700

100%

Shareholders should not draw any conclusions about the Company’s investment performance from the amount of the Company’s current distribution.

The amounts and sources of distributions set out above are estimates only and are not being provided for tax reporting purposes. The final determination of the source of all distributions made in 2020 will be made after the year-ended 2020. The actual amounts and sources of the amounts of distributions for tax reporting purposes will depend upon the Company’s results during the remainder of the calendar year and are subject to any changes to applicable tax regulations. Information for tax reporting purposes will be provided to the Company’s shareholders on a Form T5 in February of 2021.

The Company previously announced that the Cook Islands Parliament recently passed legislation that removes the tax exemptions for Cook Islands international companies, like the Company, subjecting these companies to the Cook Islands company tax regime and a tax on company profit of 20%. Under grandfathering provisions, there is no immediate impact on the Company and the Company will not be subject to the new rules until January 1, 2022. The precise impact of the rule change is still being assessed and it is understood that the Cook Islands will be undertaking a thorough review of its taxation system including the taxation of company income.  The Manager is monitoring developments and will evaluate options to mitigate the impact of the rule change.

Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Such forward-looking information reflects the Investment Manager’s beliefs, estimates and opinion regarding the Company’s future financial performance, projects and opportunities and market conditions as at today’s date. Implicit in this information, particularly in respect of future financial performance and condition of the Company, are factors and assumptions which, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Shareholders are cautioned that actual results are subject to a number of risks and uncertainties, including general economic and market factors, including credit, currency, political and interest-rate risks and could differ materially from what is currently expected. The Company has no specific intention of updating any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.

Aberdeen Standard Investments (“ASI”) is the marketing name in Canada for Aberdeen Standard Investments (Canada) Limited (“ASI Canada”), Aberdeen Standard Investments Luxembourg SA, Standard Life Investments Private Capital Ltd, SL Capital Partners LLP, Standard Life Investments Limited, Aberdeen Standard Alternative Fund Limited, and Aberdeen Capital Management LLC. ASI Canada is the administrator of the Company and is registered as an investment fund manager in Canada where required. ASI Canada is a wholly-owned subsidiary of Aberdeen Standard Investments Inc., the sub-administrator of the Company.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Company’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 Company. There is no assurance that the Company will achieve its investment objective. Past performance does not guarantee future results.

If you wish to receive this information electronically, please contact [email protected]

aberdeenfap.com

SOURCE Aberdeen Asia-Pacific Income Investment Company Limited

For further information: Aberdeen Standard Investments Inc., Investor Relations, 800-992-6341, [email protected], https://www.aberdeenstandard.com

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https://www.aberdeenstandard.com

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Private equity gears up for potential National Football League investments – Financial Times

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April 19, 2024

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Investment Opportunities With Hot Inflation, Higher-for-Longer Interest Rates – Bloomberg

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2 hours ago

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April 19, 2024

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Like a bad houseguest, hotter-than-expected inflation continues to linger in the US.

Traders had hoped by now the Federal Reserve would be free to start cutting interest rates — boosting rate-sensitive stocks and unlocking a largely frozen real estate market. Instead, stubborn price growth has some on Wall Street rethinking whether the central bank will lower rates at all this year.

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Want to Outperform 88% of Professional Fund Managers? Buy This 1 Investment and Hold It Forever. – The Motley Fool

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10 hours ago

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April 19, 2024

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You don’t have to be a stock market genius to outperform most pros.

You might not think it’s possible to outperform the average Wall Street professional with just a single investment. Fund managers are highly educated and steeped in market data. They get paid a lot of money to make smart investments.

But the truth is, most of them may not be worth the money. With the right steps, individual investors can outperform the majority of active large-cap mutual fund managers over the long run. You don’t need a doctorate or MBA, and you certainly don’t need to follow the everyday goings-on in the stock market. You just need to buy a single investment and hold it forever.

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That’s because 88% of active large-cap fund managers have underperformed the S&P 500 index over the last 15 years thru Dec. 31, 2023, according to S&P Global’s most recent SPIVA (S&P Indices Versus Active) scorecard. So if you buy a simple S&P 500 index fund like the Vanguard S&P 500 ETF (VOO -0.23%), chances are that your investment will outperform the average active mutual fund in the long run.

Image source: Getty Images.

Why is it so hard for fund managers to outperform the S&P 500?

It’s a good bet that the average fund manager is hardworking and well-trained. But there are at least two big factors working against active fund managers.

The first is that institutional investors make up roughly 80% of all trading in the U.S. stock market — far higher than it was years ago when retail investors dominated the market. That means a professional investor is mostly trading shares with another manager who is also very knowledgeable, making it much harder to gain an edge and outperform the benchmark index.

The more basic problem, though, is that fund managers don’t just need to outperform their benchmark index. They need to beat the index by a wide enough margin to justify the fees they charge. And that reduces the odds that any given large-cap fund manager will be able to outperform an S&P 500 index fund by a significant amount.

The SPIVA scorecard found that just 40% of large-cap fund managers outperformed the S&P 500 in 2023 once you factor in fees. So if the odds of outperforming fall to 40-60 for a single year, you can see how the odds of beating the index consistently over the long run could go way down.

What Warren Buffett recommends over any other single investment

Warren Buffett is one of the smartest investors around, and he can’t think of a single better investment than an S&P 500 index fund. He recommends it even above his own company, Berkshire Hathaway.

In his 2016 letter to shareholders, Buffett shared a rough calculation that the search for superior investment advice had cost investors, in aggregate, $100 billion over the previous decade relative to investing in a simple index fund.

Even Berkshire Hathaway holds two small positions in S&P 500 index funds. You’ll find shares of the Vanguard S&P 500 ETF and the SPDR S&P 500 ETF Trust (NYSEMKT: SPY) in Berkshire’s quarterly disclosures. Both are great options for index investors, offering low expense ratios and low tracking errors (a measure of how closely an ETF price follows the underlying index). There are plenty of other solid index funds you could buy, but either of the above is an excellent option as a starting point.

Adam Levy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy.

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