The Fund's total returns for various periods through July 31, 2009 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 255.0 7.7 220.7 7.1
(June 1992) ----- --- ----- ---
----------
10-years 71.6 5.5 100.7 7.2
-------- ---- --- ----- ---
5-years 108.5 15.8 119.2 17.0
------- ----- ---- ----- ----
3-years 27.2 8.4 31.0 9.4
------- ---- --- ---- ---
1-year -18.8 -16.6
------ ----- -----
On July 31, 2009, the Fund's net assets amounted to US$149.3 million and the Fund's NAV per share was $18.10.
As of July 31, 2009, the portfolio was invested as follows:
Portfolio Composition Geographic Exposure %
--------------------- ---------------------
South Africa 14.1
------------ ----
Mexico 12.8
------ ----
Hong Kong 11.9
--------- ----
Russia 10.3
------ ----
Brazil 8.3
------ ---
United States 7.0
------------- ---
South Korea 5.8
----------- ---
China 4.5
----- ---
Taiwan 4.5
------ ---
Indonesia 4.3
--------- ---
Israel 4.1
------ ---
Turkey 2.3
------ ---
Egypt 2.0
----- ---
Poland 1.6
------ ---
Philippines 1.4
----------- ---
Thailand 1.4
-------- ---
Czech Republic 1.3
-------------- ---
Chile 1.2
----- ---
India 0.9
----- ---
Malaysia 0.3
-------- ---
The Fund's ten largest equity holdings as of July 31, 2009, representing 56.7% of net assets, were:
Stock Percent of
----- Net Assets
----------
MTN Group Ltd. 11.8
-------------- ----
America Movil SAB de CV 11.3
----------------------- ----
China Mobile Ltd. 7.4
----------------- ---
Mobile Telesystems OJSC 4.8
----------------------- ---
Vimpel Communications 4.2
--------------------- ---
Telekomunikasi TBK 3.8
------------------ ---
China Unicom (Hong Kong) Ltd. 3.7
----------------------------- ---
China Telecom Corp. Ltd. 3.3
------------------------ ---
Chunghwa Telecom Co. Ltd. 3.3
------------------------- ---
KT Corp. 3.1
-------- ---
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 Investment Services Limited (the Investment Manager and 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.
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. Inception date June 17, 1992.
If you wish to receive this information electronically, please contact: InvestorRelations@aberdeen-asset.com'>InvestorRelations@aberdeen-asset.com