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Aberdeen Emerging Markets Telecommunications Fund, Inc. (NYSE AMEX: ETF)
- (EDT)
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Daily Data
At close Sep, 02 2010
| NAV | $19.49 |
| Price | $17.30 |
| Premium/Discount | -11.24% |
NAV and prices are provided by Morningstar. 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 Emerging Markets Telecommunications Fund, Inc. (NYSE AMEX: ETF)
Investment Objective
The Fund seeks long-term capital appreciation by investing primarily in equity securities of telecommunications companies in emerging markets.
Investment Policies
It is the policy of the Fund to invest its assets in equity securities of telecommunications companies in emerging countries. For these purposes, “equity securities of telecommunications companies in emerging countries” are equity securities of telecommunications companies for which the principal securities trading market is an emerging country.
The information contained above provides only a brief summary description of the Fund's investment objective and investment policies.
Fund Managers’ Monthly Report
July 2010
- Telecom stocks in emerging markets registered a virtually flat performance in June. Hungary’s hasty comments that it might face a Greek-like debt crisis, coupled with harsh austerity measures announced across Europe, weighed on investor sentiment, but losses were offset by positive economic data and China’s pledge to reintroduce exchange rate flexibility.
- First-quarter GDP rose in India, Brazil, Turkey and Hungary, while economic growth in Chile accelerated in April.
- China’s government selected 12 cities for trials of merged telephone, Internet and television networks.
- In Fund-related news, Mexico’s America Movil was awarded an A- rating for its proposed euro and sterling-based senior notes equivalent to US$3.1 billion. India’s Bharti Airtel completed its US$10.7 billion acquisition of Zain’s mobile operations in Africa. Malaysia’s DiGi.Com agreed to share existing and future infrastructure with major shareholders. Russia’s MTS announced that it will pay up to US$1 billion for the remaining stake in Comstar.
- There were no major changes to the portfolio in June.