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Aberdeen
Emerging Markets Telecommunications and Infrastructure Fund, Inc. (NYSE AMEX: ETF) - (EDT)
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Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc. Update
Presenting:
Stephan Parr, Investment Manager
Wednesday, Feb 1
12 p.m. ET
Daily Data
At close Feb 03, 2012
| NAV | $21.32 |
| Price | $19.35 |
| Premium/Discount | -9.24% |
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 and Infrastructure 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.
Investing in the Asia-Pacific Region
As the West grapples with its debt issues, we believe that the structural soundness of the Asia-Pacific region will help deliver long-term opportunities for investors.
Download brochureFund Manager Interview with Stephen Parr
Stephen Parr, investment manager on Aberdeen’s global emerging markets team, talks about the development of the infrastructure and telecommunications industries in emerging market countries. He reviews investment opportunities today and discusses the industry’s predicted growth in the future.
Download Fund Manager InterviewInvestment 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
December 2011
- Emerging market telecoms and infrastructure stocks ended flat in November amid further signs of a slowdown in China and continued worries over Eurozone’s debt problems.
- China surpassed the U.S. as the world’s biggest smartphone market by volume in the third quarter, according to Strategy Analytics. Operators’ aggressive handset subsidy strategies and the increasing availability of low-cost Android phones underpinned the robust growth.
- India’s infrastructure sector growth slowed to 2.3% in September, dragged down by coal and natural gas segments. In a separate development, Fitch Ratings warned that most Indian telecom operators will continue to suffer operating losses next year as a result of intense competition and low average revenue per user (ARPU).
- Third-quarter earnings were generally healthy. Both wireless communications services provider America Movil and mall operator Multiplan’s decent results met market expectations. Oil and gas company Ultrapar reported solid sales particularly in its fuel distribution business. Conversely, Turkish construction company ENKA’s results disappointed due to volatile electricity and natural gas prices. The real estate segment was more encouraging but ENKA’s increasingly small construction backlog remains a concern.
- There were no major portfolio changes during the month.
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* As of 11/01/10, Fund name changed from Emerging Markets Telecommunications Fund, Inc.