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 213.4 7.1 183.2 6.4
(October 1992) ----- --- ----- ---
-------------
10-years 83.4 6.3 96.6 7.0
-------- ---- --- ---- ---
5-years 60.0 9.9 75.0 11.8
------- ---- --- ---- ----
3-years 23.9 7.4 29.6 9.0
------- ---- --- ---- ---
1-year -3.5 -1.9
------ ---- ----
On July 31, 2009, the Fund's net assets amounted to US$61.6 million and the Fund's NAV per share was $14.43.
As of July 31, 2009, the portfolio was invested as follows:
Portfolio Composition Percent of
Net Assets
--------------------- ----------
Financials 37.4
---------- ----
Other 15.7
----- ----
Consumer, Non-Cyclical 11.2
---------------------- ----
Industrials 9.1
----------- ---
Basic Materials 8.9
--------------- ---
Communications 7.0
-------------- ---
Diversified 4.9
----------- ---
Technology 3.3
---------- ---
Consumer, Cyclical 1.5
------------------ ---
Energy 0.9
------ ---
Utilities 0.1
--------- ---
The Fund's ten largest equity holdings as of July 31, 2009, representing 49.2% of net assets, were:
Stock Percent of
----- Net Assets
----------
Teva Pharmaceutical Industries Ltd. 7.3
----------------------------------- ---
Harel Insurance Investments & Financial
Services 7.2
--------------------------------------- ---
Bank Leumi Le-Israel BM 6.4
----------------------- ---
Bezeq The Israeli Telecommunication Corp.
Ltd. 6.0
----------------------------------------- ---
Bank Hapoalim BM 5.8
---------------- ---
Israel Chemicals Ltd. 5.5
--------------------- ---
Shikun & Binui Ltd. 3.4
------------------- ---
The Israel Corporation Ltd. 2.9
--------------------------- ---
Israel Discount Bank 2.6
-------------------- ---
Perrigo Co. 2.1
----------- ---
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 October 29, 1992.
If you wish to receive this information electronically, please contact: InvestorRelations@aberdeen-asset.com'>InvestorRelations@aberdeen-asset.com