UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: | 811-06342 | |
Exact name of registrant as specified in charter: | Aberdeen Global Income Fund, Inc. | |
Address of principal executive offices: | 1735 Market Street, 32nd Floor | |
Philadelphia, PA 19103 | ||
Name and address of agent for service: | Ms. Andrea Melia | |
Aberdeen Asset Management Inc. | ||
1735 Market Street 32nd Floor | ||
Philadelphia, PA 19103 | ||
Registrants telephone number, including area code: | 866-839-5233 | |
Date of fiscal year end: | October 31 | |
Date of reporting period: | July 31, 2013 |
Item 1 - Schedule of Investments - The Schedule of Investments for the three-month period ended July 31, 2013 is filed herewith.
Portfolio of Investments (unaudited)
As of July 31, 2013
Principal Amount (000) |
Description |
Value (US$) |
||||||||
CORPORATE BONDS24.7% |
||||||||||
AUSTRALIA4.2% |
||||||||||
AUD | 500 | CFS Retail Property Trust, 6.25%, 12/22/2014 |
$ | 467,209 | ||||||
AUD | 500 | DnB NOR Boligkreditt, 6.25%, 06/08/2016 |
479,464 | |||||||
AUD | 600 | Kommunalbanken AS, 6.00%, 10/21/2014 |
560,516 | |||||||
AUD | 500 | National Capital Trust III, 3.76%, 09/30/2016 (a)(b)(c) |
420,594 | |||||||
AUD | 3,000 | Wesfarmers Ltd., 8.25%, 09/11/2014 |
2,844,455 | |||||||
|
|
|||||||||
4,772,238 | ||||||||||
|
|
|||||||||
BRAZIL1.1% |
||||||||||
USD | 200 | Banco do Estado do Rio Grande do Sul, 7.38%, 02/02/2022 (d) |
202,250 | |||||||
USD | 420 | OAS Financial Ltd., 8.88%, 04/25/2018 (a)(b)(c)(d) |
383,250 | |||||||
USD | 200 | Odebrecht Offshore Drilling Finance Ltd., 6.75%, 12/01/2021 (b)(d) |
199,600 | |||||||
USD | 200 | USJ Acucar e Alcool SA, 9.88%, 11/09/2016 (b)(d) |
194,000 | |||||||
USD | 400 | Virgolino de Oliveira Finance Ltd., 11.75%, 02/09/2017 (b)(d) |
322,000 | |||||||
|
|
|||||||||
1,301,100 | ||||||||||
|
|
|||||||||
CHILE0.2% |
||||||||||
USD | 200 | SACI Falabella, 3.75%, 04/30/2023 (d) |
182,155 | |||||||
|
|
|||||||||
CHINA0.5% |
||||||||||
USD | 300 | China Overseas Finance Cayman Island II Ltd., 5.50%, 11/10/2020 (d) |
311,554 | |||||||
USD | 200 | Country Garden Holdings Co. Ltd., 11.13%, 02/23/2015 (b)(d) |
223,000 | |||||||
|
|
|||||||||
534,554 | ||||||||||
|
|
|||||||||
DOMINICAN REPUBLIC0.2% |
||||||||||
USD | 250 | AES Andres Dominicana Ltd., 9.50%, 11/12/2015 (b)(d) |
262,500 | |||||||
|
|
|||||||||
EGYPT0.5% |
||||||||||
USD | 500 | African Export-Import Bank, 5.75%, 07/27/2016 |
527,500 | |||||||
|
|
|||||||||
EL SALVADOR0.3% |
||||||||||
USD | 300 | Telemovil Finance Co. Ltd., 8.00%, 10/01/2014 (b)(d) |
321,000 | |||||||
|
|
|||||||||
GEORGIA0.2% |
||||||||||
USD | 250 | Georgian Oil and Gas Corp., 6.88%, 05/16/2017 (d) |
256,875 | |||||||
|
|
|||||||||
GUATEMALA0.3% |
||||||||||
USD | 300 | Industrial Subordinated Trust, 8.25%, 07/27/2021 (d) |
322,500 | |||||||
|
|
|||||||||
INDIA0.2% |
||||||||||
USD | 250 | Bharti Airtel International Netherlands BV, 5.13%, 03/11/2023 (d) |
232,500 | |||||||
|
|
|||||||||
INDONESIA1.0% |
||||||||||
USD | 100 | Adaro Indonesia PT, 7.63%, 10/22/2014 (b)(d) |
103,625 | |||||||
USD | 200 | Indosat Palapa Co. BV, 7.38%, 07/29/2015 (b)(d) |
217,500 | |||||||
USD | 370 | Pertamina Persero PT, 4.30%, 05/20/2023 (d) |
332,075 | |||||||
USD | 560 | Pertamina Persero PT, 5.63%, 05/20/2043 (d) |
459,200 | |||||||
|
|
|||||||||
1,112,400 | ||||||||||
|
|
|||||||||
KAZAKHSTAN0.5% |
||||||||||
USD | 200 | Kazakhstan Temir Zholy Finance BV, 6.95%, 07/10/2042 (d) |
204,000 | |||||||
USD | 310 | Zhaikmunai LP Via Zhaikmunai International BV, 7.13%, 11/13/2016 (b)(d) |
324,725 | |||||||
|
|
|||||||||
528,725 | ||||||||||
|
|
|||||||||
MALAYSIA0.1% |
||||||||||
USD | 110 | PETRONAS Capital Ltd., 7.88%, 05/22/2022 (d) |
141,403 | |||||||
|
|
|||||||||
MEXICO1.7% |
||||||||||
USD | 250 | BBVA Bancomer SA, 6.75%, 09/30/2022 (d) |
265,625 | |||||||
USD | 200 | Cemex Finance LLC, 9.38%, 10/12/2017 (b)(d) |
224,000 |
See Notes to Portfolio of Investments.
Aberdeen Global Income Fund, Inc.
Portfolio of Investments (unaudited) (continued)
As of July 31, 2013
Principal Amount (000) |
Description |
Value (US$) |
||||||||
CORPORATE BONDS (continued) |
||||||||||
USD | 230 | Pemex Project Funding Master Trust, 5.75%, 03/01/2018 |
$ | 255,300 | ||||||
USD | 40 | Pemex Project Funding Master Trust, 6.63%, 06/15/2035 |
42,800 | |||||||
USD | 240 | Pemex Project Funding Master Trust, 6.63%, 06/15/2038 |
256,200 | |||||||
USD | 640 | Petroleos Mexicanos, 6.50%, 06/02/2041 (b) |
673,280 | |||||||
USD | 270 | Tenedora Nemak SA de CV, 5.50%, 02/28/2018 (b)(d) |
266,625 | |||||||
|
|
|||||||||
1,983,830 | ||||||||||
|
|
|||||||||
NEW ZEALAND2.1% |
||||||||||
NZD | 2,000 | Deutsche Bank AG, 3.54%, 12/16/2013 (a)(b) |
1,579,157 | |||||||
NZD | 1,000 | General Electric Capital Corp., 6.75%, 09/26/2016 |
844,857 | |||||||
|
|
|||||||||
2,424,014 | ||||||||||
|
|
|||||||||
PERU0.4% |
||||||||||
USD | 330 | Banco de Credito del Peru, 4.75%, 03/16/2016 (b)(d) |
344,025 | |||||||
USD | 150 | Corp. Azucarera del Peru SA, 6.38%, 08/02/2017 (b)(d) |
148,125 | |||||||
|
|
|||||||||
492,150 | ||||||||||
|
|
|||||||||
REPUBLIC OF SOUTH KOREA0.5% |
||||||||||
INR | 33,000 | Export-Import Bank of Korea, 6.00%, 02/27/2014 (d) |
531,484 | |||||||
|
|
|||||||||
RUSSIA3.5% |
||||||||||
USD | 200 | Alfa Bank OJSC Via Alfa Bond Issuance PLC, 7.75%, 04/28/2021 (d) |
214,750 | |||||||
USD | 350 | Alfa Bank OJSC Via Alfa Bond Issuance PLC, 7.88%, 09/25/2017 (d) |
384,387 | |||||||
USD | 300 | EuroChem Mineral & Chemical Co. OJSC via EuroChem GI Ltd., 5.13%, 12/12/2017 (d) |
297,000 | |||||||
USD | 220 | Evraz Group SA, 6.50%, 04/22/2020 (d) |
199,100 | |||||||
USD | 200 | Gazprom Neft OAO Via GPN Capital SA, 4.38%, 09/19/2022 (d) |
185,040 | |||||||
USD | 200 | Gazprom OAO Via Gaz Capital SA, 4.95%, 07/19/2022 (d) |
195,000 | |||||||
USD | 200 | Metalloinvest Finance Ltd., 5.63%, 04/17/2020 (d) |
187,000 | |||||||
USD | 200 | OJSC Novolipetsk Steel via Steel Funding Ltd., 4.95%, 09/26/2019 (d) |
191,000 | |||||||
USD | 150 | Russian Agricultural Bank OJSC Via RSHB Capital SA, 7.75%, 05/29/2018 (d) |
168,750 | |||||||
USD | 107 | RZD Capital Ltd., 5.74%, 04/03/2017 (d) |
114,624 | |||||||
RUB | 38,300 | RZD Capital Ltd., 8.30%, 04/02/2019 (d) |
1,188,106 | |||||||
USD | 300 | VimpelCom Holdings BV, 5.95%, 02/13/2023 (d) |
279,000 | |||||||
USD | 180 | VTB Bank OJSC Via VTB Capital SA, 6.55%, 10/13/2020 (d) |
187,200 | |||||||
USD | 200 | VTB Bank OJSC Via VTB Capital SA, 6.88%, 05/29/2018 (b)(d) |
214,500 | |||||||
|
|
|||||||||
4,005,457 | ||||||||||
|
|
|||||||||
SOUTH AFRICA0.2% |
||||||||||
USD | 180 | Myriad International Holdings BV, 6.00%, 07/18/2020 (d) |
185,850 | |||||||
|
|
|||||||||
SUPRANATIONAL4.7% |
||||||||||
INR | 58,500 | European Bank for Reconstruction & Development, 5.25%, 02/07/2014 |
941,311 | |||||||
NZD | 1,500 | International Bank for Reconstruction & Development, 7.50%, 07/30/2014 |
1,249,589 | |||||||
NZD | 3,800 | International Finance Corp., 4.63%, 05/25/2016 |
3,096,246 | |||||||
|
|
|||||||||
5,287,146 | ||||||||||
|
|
|||||||||
TURKEY0.6% |
||||||||||
USD | 200 | Arcelik, 5.00%, 04/03/2023 (d) |
177,000 | |||||||
USD | 200 | Turkiye Sise ve Cam Fabrikalari, 4.25%, 05/09/2020 (d) |
177,300 | |||||||
USD | 300 | Yasar Holdings SA Via Willow No. 2, 9.63%, 10/07/2013 (b)(d) |
301,500 | |||||||
|
|
|||||||||
655,800 | ||||||||||
|
|
|||||||||
UKRAINE1.0% |
||||||||||
USD | 270 | Metinvest BV, 10.25%, 05/20/2015 (d) |
278,154 | |||||||
USD | 280 | MHP SA, 8.25%, 04/02/2020 (d) |
256,900 | |||||||
USD | 370 | MHP SA, 10.25%, 04/29/2015 (b)(d) |
390,354 |
See Notes to Portfolio of Investments.
Aberdeen Global Income Fund, Inc.
Portfolio of Investments (unaudited) (continued)
As of July 31, 2013
Principal Amount (000) |
Description |
Value (US$) |
||||||||
CORPORATE BONDS (continued) |
||||||||||
USD | 280 | Mriya Agro Holding PLC, 9.45%, 04/19/2018 (d) |
$ | 260,400 | ||||||
|
|
|||||||||
1,185,808 | ||||||||||
|
|
|||||||||
UNITED ARAB EMIRATES0.7% |
||||||||||
USD | 270 | Ferrexpo Finance PLC, 7.88%, 04/07/2016 (d) |
252,896 | |||||||
USD | 480 | Jafz Sukuk Ltd., 7.00%, 06/19/2019 (d) |
531,600 | |||||||
|
|
|||||||||
784,496 | ||||||||||
|
|
|||||||||
Total Corporate Bonds 24.7% (cost $28,332,914) | 28,031,485 | |||||||||
|
|
|||||||||
GOVERNMENT BONDS102.5% |
||||||||||
AUSTRALIA23.7% |
||||||||||
AUD | 700 | Australia Government Bond, 4.75%, 04/21/2027 (d) |
673,717 | |||||||
AUD | 900 | Australia Government Bond, 5.50%, 01/21/2018 |
896,317 | |||||||
AUD | 2,910 | Australia Government Bond, 5.50%, 04/21/2023 |
2,990,188 | |||||||
AUD | 4,600 | Australia Government Bond, 5.75%, 05/15/2021 |
4,757,975 | |||||||
AUD | 7,970 | Australia Government Bond, 5.75%, 07/15/2022 |
8,293,855 | |||||||
AUD | 2,000 | New South Wales Treasury Corp., 6.00%, 04/01/2015 |
1,896,242 | |||||||
AUD | 1,600 | Queensland Treasury Corp., 6.00%, 06/14/2021 (e) |
1,625,753 | |||||||
AUD | 1,300 | Queensland Treasury Corp., 6.00%, 07/21/2022 |
1,295,124 | |||||||
AUD | 3,400 | Treasury Corp. of Victoria, 5.75%, 11/15/2016 |
3,315,429 | |||||||
AUD | 1,115 | Treasury Corp. of Victoria, 6.00%, 06/15/2020 |
1,126,883 | |||||||
|
|
|||||||||
26,871,483 | ||||||||||
|
|
|||||||||
BAHRAIN0.2% |
||||||||||
USD | 200 | Bahrain Government International Bond, 6.13%, 08/01/2023 (d) |
200,000 | |||||||
|
|
|||||||||
BRAZIL4.4% |
||||||||||
BRL | 7,451 | Brazil Notas do Tesouro Nacional Serie F, 10.00%, 01/01/2017 |
3,206,319 | |||||||
USD | 150 | Brazilian Government International Bond, 5.63%, 01/07/2041 |
148,125 | |||||||
USD | 1,300 | Brazilian Government International Bond, 7.13%, 01/20/2037 |
1,525,550 | |||||||
BRL | 350 | Brazilian Government International Bond, 8.50%, 01/05/2024 |
143,062 | |||||||
|
|
|||||||||
5,023,056 | ||||||||||
|
|
|||||||||
CANADA14.9% |
||||||||||
CAD | 2,000 | Canadian Government Bond, 8.00%, 06/01/2023 |
2,882,115 | |||||||
CAD | 2,000 | Canadian Government Bond, 9.00%, 06/01/2025 |
3,208,120 | |||||||
CAD | 3,000 | Canadian Government Bond, 10.25%, 03/15/2014 |
3,085,639 | |||||||
CAD | 2,000 | Hydro Quebec, 9.63%, 07/15/2022 |
2,889,808 | |||||||
CAD | 500 | Ontario Electricity Financial Corp., 8.50%, 05/26/2025 |
713,816 | |||||||
CAD | 2,200 | Province of British Columbia Canada, 8.50%, 08/23/2013 |
2,150,050 | |||||||
CAD | 2,000 | Province of New Brunswick, 7.75%, 01/13/2014 |
2,000,584 | |||||||
|
|
|||||||||
16,930,132 | ||||||||||
|
|
|||||||||
COLOMBIA0.3% |
||||||||||
USD | 240 | Colombia Government International Bond, 7.38%, 03/18/2019 |
290,400 | |||||||
COP | 125,000 | Colombia Government International Bond, 7.75%, 04/14/2021 |
76,936 | |||||||
|
|
|||||||||
367,336 | ||||||||||
|
|
|||||||||
COSTA RICA0.2% |
||||||||||
USD | 250 | Costa Rica Government International Bond, 4.25%, 01/26/2023 (d) |
236,250 | |||||||
|
|
|||||||||
CROATIA0.8% |
||||||||||
USD | 500 | Croatia Government International Bond, 6.25%, 04/27/2017 (d) |
533,225 | |||||||
USD | 320 | Croatia Government International Bond, 6.63%, 07/14/2020 (d) |
344,000 | |||||||
|
|
|||||||||
877,225 | ||||||||||
|
|
See Notes to Portfolio of Investments.
Aberdeen Global Income Fund, Inc.
Portfolio of Investments (unaudited) (continued)
As of July 31, 2013
Principal Amount (000) |
Description |
Value (US$) |
||||||||
GOVERNMENT BONDS (continued) |
||||||||||
DOMINICAN REPUBLIC0.2% |
||||||||||
USD | 160 | Dominican Republic International Bond, 7.50%, 05/06/2021 (d) |
$ | 172,800 | ||||||
|
|
|||||||||
GHANA0.2% |
||||||||||
USD | 250 | Republic of Ghana, 7.88%, 08/07/2023 (d) |
246,400 | |||||||
|
|
|||||||||
HONDURAS0.5% |
||||||||||
USD | 730 | Honduras Government International Bond, 7.50%, 03/15/2024 (d) |
591,300 | |||||||
|
|
|||||||||
HUNGARY1.4% |
||||||||||
HUF | 132,000 | Hungary Government Bond, 7.00%, 06/24/2022 |
611,253 | |||||||
HUF | 83,000 | Hungary Government Bond, 8.00%, 02/12/2015 |
388,491 | |||||||
USD | 580 | Hungary Government International Bond, 4.13%, 02/19/2018 |
566,950 | |||||||
|
|
|||||||||
1,566,694 | ||||||||||
|
|
|||||||||
IRAQ0.2% |
||||||||||
USD | 250 | Republic of Iraq, 5.80%, 09/15/2013 (b)(d) |
210,000 | |||||||
|
|
|||||||||
LATVIA0.5% |
||||||||||
USD | 600 | Republic of Latvia, 2.75%, 01/12/2020 (d) |
564,000 | |||||||
|
|
|||||||||
MALAYSIA0.9% |
||||||||||
MYR | 3,140 | Malaysia Government Bond, 4.01%, 09/15/2017 |
975,806 | |||||||
|
|
|||||||||
MEXICO1.9% |
||||||||||
MXN | 3,000 | Mexico Fixed Rate Bonds, 7.25%, 12/15/2016 |
253,519 | |||||||
MXN | 2,700 | Mexico Fixed Rate Bonds, 7.50%, 06/03/2027 |
232,285 | |||||||
MXN | 2,910 | Mexico Fixed Rate Bonds, 7.75%, 11/13/2042 |
243,583 | |||||||
MXN | 6,600 | Mexico Fixed Rate Bonds, 8.00%, 12/17/2015 |
559,683 | |||||||
MXN | 3,350 | Mexico Fixed Rate Bonds, 8.00%, 12/07/2023 |
301,576 | |||||||
USD | 550 | Mexico Government International Bond, 6.05%, 01/11/2040 |
610,500 | |||||||
|
|
|||||||||
2,201,146 | ||||||||||
|
|
|||||||||
MONGOLIA0.4% |
||||||||||
USD | 300 | Mongolia Government International Bond, 4.13%, 01/05/2018 (d) |
273,000 | |||||||
USD | 200 | Mongolia Government International Bond, 5.13%, 12/05/2022 (d) |
172,000 | |||||||
|
|
|||||||||
445,000 | ||||||||||
|
|
|||||||||
NEW ZEALAND19.9% |
||||||||||
NZD | 3,100 | New Zealand Government Bond, 3.00%, 04/15/2020 |
2,336,349 | |||||||
NZD | 900 | New Zealand Government Bond, 5.00%, 03/15/2019 |
762,865 | |||||||
NZD | 8,460 | New Zealand Government Bond, 5.50%, 04/15/2023 |
7,422,632 | |||||||
NZD | 4,550 | New Zealand Government Bond, 6.00%, 04/15/2015 |
3,822,148 | |||||||
NZD | 1,700 | New Zealand Government Bond, 6.00%, 12/15/2017 |
1,491,124 | |||||||
NZD | 6,555 | New Zealand Government Bond, 6.00%, 05/15/2021 |
5,913,314 | |||||||
NZD | 1,000 | Province of Manitoba, 6.38%, 09/01/2015 |
837,738 | |||||||
|
|
|||||||||
22,586,170 | ||||||||||
|
|
|||||||||
NIGERIA1.5% |
||||||||||
NGN | 229,000 | Nigeria Government Bond, 15.10%, 04/27/2017 |
1,479,517 | |||||||
USD | 260 | Nigeria Government International Bond, 5.13%, 07/12/2018 (d) |
263,575 | |||||||
|
|
|||||||||
1,743,092 | ||||||||||
|
|
|||||||||
PERU1.1% |
||||||||||
PEN | 1,370 | Peru Government Bond, 7.84%, 08/12/2020 |
568,481 | |||||||
PEN | 455 | Peruvian Government International Bond, 5.20%, 09/12/2023 (d) |
162,472 | |||||||
PEN | 1,370 | Peruvian Government International Bond, 6.95%, 08/12/2031 (d) |
527,323 | |||||||
|
|
|||||||||
1,258,276 | ||||||||||
|
|
See Notes to Portfolio of Investments.
Aberdeen Global Income Fund, Inc.
Portfolio of Investments (unaudited) (continued)
As of July 31, 2013
Principal Amount (000) |
Description |
Value (US$) |
||||||||
GOVERNMENT BONDS (continued) |
||||||||||
PHILIPPINES0.0% |
||||||||||
USD | 40 | Philippine Government International Bond, 8.38%, 06/17/2019 |
$ | 51,250 | ||||||
|
|
|||||||||
ROMANIA0.9% |
||||||||||
USD | 850 | Romanian Government International Bond, 6.75%, 02/07/2022 (d) |
958,545 | |||||||
|
|
|||||||||
RUSSIA1.6% |
||||||||||
RUB | 35,500 | Russian Federal Bond - OFZ, 7.50%, 02/27/2019 |
1,118,479 | |||||||
USD | 500 | Russian Foreign Bond - Eurobond, 5.00%, 04/29/2020 (d) |
541,250 | |||||||
USD | 100 | Vnesheconombank Via VEB Finance PLC, 6.80%, 11/22/2025 (d) |
108,000 | |||||||
|
|
|||||||||
1,767,729 | ||||||||||
|
|
|||||||||
RWANDA0.2% |
||||||||||
USD | 200 | Rwanda International Government Bond, 6.63%, 05/02/2023 (d) |
178,500 | |||||||
|
|
|||||||||
SERBIA1.1% |
||||||||||
USD | 400 | Republic of Serbia, 5.25%, 11/21/2017 (d) |
393,080 | |||||||
USD | 880 | Republic of Serbia, 7.25%, 09/28/2021 (d) |
899,976 | |||||||
|
|
|||||||||
1,293,056 | ||||||||||
|
|
|||||||||
SOUTH AFRICA3.6% |
||||||||||
USD | 920 | Eskom Holdings Ltd., 5.75%, 01/26/2021 (d) |
897,000 | |||||||
USD | 200 | Eskom Holdings Ltd., 6.75%, 08/06/2023 (d) |
199,022 | |||||||
ZAR | 1,100 | South Africa Government Bond, 7.00%, 02/28/2031 |
94,246 | |||||||
ZAR | 2,700 | South Africa Government Bond, 10.50%, 12/21/2026 |
324,805 | |||||||
ZAR | 19,800 | South Africa Government Bond, 13.50%, 09/15/2015 |
2,293,512 | |||||||
USD | 160 | South Africa Government International Bond, 5.50%, 03/09/2020 |
171,400 | |||||||
USD | 100 | South Africa Government International Bond, 6.25%, 03/08/2041 |
105,000 | |||||||
|
|
|||||||||
4,084,985 | ||||||||||
|
|
|||||||||
TANZANIA0.5% |
||||||||||
USD | 530 | Tanzania Government International Bond, 6.45%, 03/08/2020 (a)(d) |
540,600 | |||||||
|
|
|||||||||
TURKEY3.7% |
||||||||||
TRY | 570 | Turkey Government Bond, 6.30%, 02/14/2018 |
265,869 | |||||||
TRY | 5,200 | Turkey Government Bond, 9.00%, 01/27/2016 |
2,702,136 | |||||||
USD | 200 | Turkey Government International Bond, 5.63%, 03/30/2021 |
211,000 | |||||||
USD | 560 | Turkey Government International Bond, 6.25%, 09/26/2022 |
610,400 | |||||||
USD | 300 | Turkey Government International Bond, 7.50%, 11/07/2019 |
351,000 | |||||||
|
|
|||||||||
4,140,405 | ||||||||||
|
|
|||||||||
UNITED KINGDOM15.8% |
||||||||||
GBP | 1,700 | United Kingdom Gilt, 4.25%, 06/07/2032 |
2,958,683 | |||||||
GBP | 1,180 | United Kingdom Gilt, 8.00%, 09/27/2013 |
1,816,167 | |||||||
GBP | 1,300 | United Kingdom Treasury Gilt, 4.00%, 03/07/2022 |
2,257,697 | |||||||
GBP | 6,205 | United Kingdom Treasury Gilt, 4.25%, 12/07/2049 |
10,853,941 | |||||||
|
|
|||||||||
17,886,488 | ||||||||||
|
|
|||||||||
URUGUAY0.6% |
||||||||||
UYU | 2,150 | Uruguay Government International Bond, 4.25%, 04/05/2027 (f) |
176,511 | |||||||
UYU | 6,080 | Uruguay Government International Bond, 5.00%, 09/14/2018 (f) |
525,643 | |||||||
|
|
|||||||||
702,154 | ||||||||||
|
|
|||||||||
VENEZUELA1.1% |
||||||||||
USD | 1,080 | Venezuela Government International Bond, 5.75%, 02/26/2016 (d) |
977,400 | |||||||
USD | 200 | Venezuela Government International Bond, 7.75%, 10/13/2019 (d) |
168,000 | |||||||
USD | 40 | Venezuela Government International Bond, 12.75%, 08/23/2022 (d) |
40,800 | |||||||
|
|
|||||||||
1,186,200 | ||||||||||
|
|
See Notes to Portfolio of Investments.
Aberdeen Global Income Fund, Inc.
Portfolio of Investments (unaudited) (continued)
As of July 31, 2013
Principal Amount (000) |
Description |
Value (US$) |
||||||||
GOVERNMENT BONDS (continued) |
||||||||||
VIETNAM0.2% |
||||||||||
USD | 220 | Vietnam Government International Bond, 6.88%, 01/15/2016 (d) |
$ | 236,500 | ||||||
|
|
|||||||||
Total Government Bonds 102.5% (cost $112,515,737) |
116,092,578 | |||||||||
|
|
|||||||||
SHORT-TERM INVESTMENT3.4% |
||||||||||
UNITED STATES3.4% |
||||||||||
3,802 | Repurchase Agreement, State Street Bank and Trust Co., 0.01% dated 07/31/2013, due 08/01/2013 in the amount of $3,802,001 collateralized by $3,910,000 U.S. Treasury Notes, 2.00% maturing 07/31/2020; value $3,880,675 |
3,802,000 | ||||||||
|
|
|||||||||
Total Short-Term Investment 3.4% (cost $3,802,000) |
3,802,000 | |||||||||
|
|
|||||||||
Total Investments 130.6% (cost $144,650,651) |
147,926,063 | |||||||||
|
|
|||||||||
Liabilities in Excess of Other Assets (30.6)% |
(34,638,074 | ) | ||||||||
|
|
|||||||||
Net Assets100.0% |
$ | 113,287,989 | ||||||||
|
|
AUDAustralian Dollar
BRLBrazilian Real
CADCanadian Dollar
COPColombian Peso
GBPBritish Pound Sterling
HUFHungarian Forint
INRIndian Rupee
MXNMexican Peso
MYRMalaysian Ringgit
NGNNigerian Naira
NZDNew Zealand Dollar
PENPeruvian Nuevo Sol
RUBNew Russian Ruble
TRYTurkish Lira
USDU.S. Dollar
UYUUruguayan Peso
ZARSouth African Rand
(a) | Indicates a variable rate security. The maturity date presented for these instruments is the later of the next date on which the security can be redeemed at par or the next date on which the rate of interest is adjusted. The interest rate shown reflects the rate in effect at July 31, 2013. |
(b) | The maturity date presented for these instruments represents the next call/put date. |
(c) | Perpetual bond. This is a bond that has no maturity date, is redeemable and pays a steady stream of interest indefinitely. |
(d) | Denotes a restricted security, see Note (c). |
(e) | This security is government guaranteed. |
(f) | Inflation linked security. |
At July 31, 2013, the Funds open forward foreign currency exchange contracts were as follows:
Purchase Contracts Settlement Date* |
Counterparty | Amount Purchased |
Amount Sold | Fair Value | Unrealized Appreciation/ (Depreciation) |
|||||||||||
Indian Rupee/United States Dollar |
||||||||||||||||
09/05/2013 |
JPMorgan Chase | INR 32,514,000 | USD | 541,431 | $ | 530,028 | $ | (11,403) | ||||||||
New Russian Ruble/United States Dollar |
||||||||||||||||
09/05/2013 |
JPMorgan Chase | RUB 50,377,000 | USD | 1,537,490 | 1,519,576 | (17,914) |
See Notes to Portfolio of Investments.
Aberdeen Global Income Fund, Inc.
Portfolio of Investments (unaudited) (continued)
As of July 31, 2013
Purchase Contracts Settlement Date* |
Counterparty | Amount Purchased |
Amount Sold | Fair Value | Unrealized Appreciation/ (Depreciation) |
|||||||||||||
New Zealand Dollar/United States Dollar |
||||||||||||||||||
10/21/2013 |
JPMorgan Chase | NZD | 10,435,000 | USD | 8,183,711 | $ | 8,287,373 | $ | 103,662 | |||||||||
|
|
|
|
|||||||||||||||
$ | 10,336,977 | $ | 74,345 | |||||||||||||||
|
|
|
|
|||||||||||||||
Sale Contracts Settlement Date* |
Counterparty | Amount Purchased | Amount Sold | Fair Value | Unrealized Appreciation/ (Depreciation) |
|||||||||||||
United States Dollar/Brazilian Real |
||||||||||||||||||
09/05/2013 |
Citibank | USD | 1,287,666 | BRL | 2,940,000 | $ | 1,279,639 | $ | 8,027 | |||||||||
United States Dollar/Colombian Peso |
||||||||||||||||||
09/05/2013 |
JPMorgan Chase | USD | 70,724 | COP | 137,558,000 | 72,411 | (1,687 | ) | ||||||||||
United States Dollar/Hungarian Forint |
||||||||||||||||||
10/21/2013 |
JPMorgan Chase | USD | 504,222 | HUF | 114,161,000 | 503,926 | 296 | |||||||||||
United States Dollar/Indian Rupee |
||||||||||||||||||
09/05/2013 |
JPMorgan Chase | USD | 535,518 | INR | 32,514,000 | 530,027 | 5,491 | |||||||||||
United States Dollar/Mexican Peso |
||||||||||||||||||
10/21/2013 |
JPMorgan Chase | USD | 269,732 | MXN | 3,465,000 | 269,329 | 403 | |||||||||||
United States Dollar/New Russian Ruble |
||||||||||||||||||
09/05/2013 |
JPMorgan Chase | USD | 1,914,378 | RUB | 61,665,000 | 1,860,068 | 54,310 | |||||||||||
United States Dollar/New Zealand Dollar |
||||||||||||||||||
10/21/2013 |
Royal Bank of Scotland | USD | 8,088,314 | NZD | 10,435,000 | 8,287,373 | (199,059 | ) | ||||||||||
United States Dollar/Peruvian Nouveau Sol |
|
|||||||||||||||||
09/05/2013 |
JPMorgan Chase | USD | 944,236 | PEN | 2,650,000 | 944,132 | 104 | |||||||||||
United States Dollar/South African Rand |
|
|||||||||||||||||
10/21/2013 |
Citibank | USD | 786,073 | ZAR | 7,784,000 | 780,196 | 5,877 | |||||||||||
United States Dollar/Turkish Lira |
|
|||||||||||||||||
10/21/2013 |
Citibank | USD | 643,544 | TRY | 1,271,000 | 646,842 | (3,298 | ) | ||||||||||
10/21/2013 |
JPMorgan Chase | USD | 856,063 | TRY | 1,696,000 | 863,135 | (7,072 | ) | ||||||||||
|
|
|
|
|||||||||||||||
$ | 16,037,078 | $ | (136,608 | ) | ||||||||||||||
|
|
|
|
* | Certain contracts with different trade dates and like characteristics have been shown net. |
At July 31, 2013, the Funds interest rate swaps were as follows:
Currency |
Notional Amount |
Expiration |
Counterparty |
Receive (Pay) Floating Rate |
Floating Rate Index |
Fixed Rate |
Unrealized Appreciation/ (Depreciation) |
|||||||||||||||
USD |
20,000,000 | 11/01/2013 | Barclays Bank | Receive | 3-month LIBOR Index | 0.34 | % | $ | (6,288 | ) | ||||||||||||
USD |
20,000,000 | 11/01/2017 | Barclays Bank | Receive | 3-month LIBOR Index | 0.84 | % | 331,167 | ||||||||||||||
|
|
|||||||||||||||||||||
$ | 324,879 | |||||||||||||||||||||
|
|
See Notes to Portfolio of Investments.
Aberdeen Global Income Fund, Inc.
Portfolio Composition (unaudited)
Quality of Investments
As of July 31, 2013, 68.7% of the Funds total investments were invested in securities where either the issue or the issuer was rated A or better by Standard & Poors or Moodys Investors Service, Inc., or, if unrated, judged to be of equivalent quality by the Investment Manager. The table below shows the asset quality of the Funds portfolio as of July 31, 2013, compared with the previous nine and twelve months:
AAA/Aaa | AA/Aa | A | BBB/Baa | BB/Ba* | B* | CCC* | ||||||||||||||||||||||
Date |
% | % | % | % | % | % | % | |||||||||||||||||||||
July 31 2013** |
33.2 | 28.4 | 7.1 | 15.8 | 9.6 | 5.7 | 0.2 | |||||||||||||||||||||
October 31, 2012 |
43.3 | 18.8 | 6.6 | 16.2 | 8.2 | 6.6 | 0.3 | |||||||||||||||||||||
July 31 2012** |
45.9 | 17.3 | 7.3 | 17.0 | 6.4 | 5.8 | 0.3 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Below investment grade |
** | Unaudited |
Geographic Composition
The Funds investments are divided into three categories: Developed Markets, Investment Grade Developing Markets and Sub-Investment Grade Developing Markets. The table below shows the geographical composition (with U.S. Dollar-denominated bonds issued by foreign issuers allocated into country of issuance) of the Funds total investments as of July 31, 2013, compared with the previous nine and twelve months:
Developed Markets | Investment Grade Developing Markets |
Sub-Investment Grade Developing Markets |
||||||||||
Date |
% | % | % | |||||||||
July 31 2013* |
72.3 | 16.0 | 11.7 | |||||||||
October 31, 2012 |
73.6 | 13.0 | 13.4 | |||||||||
July 31 2012* |
75.1 | 12.9 | 12.0 | |||||||||
|
|
|
|
|
|
* | Unaudited |
Currency Composition
The table below shows the currency composition of the Funds total investments as of July 31, 2013, compared with the previous nine and twelve months:
Developed Markets | Investment Grade Developing Markets |
Sub-Investment Grade Developing Markets |
||||||||||
Date |
% | % | % | |||||||||
July 31 2013* |
91.8 | 5.5 | 2.7 | |||||||||
October 31, 2012 |
92.5 | 4.4 | 3.1 | |||||||||
July 31 2012* |
94.5 | 3.7 | 1.8 | |||||||||
|
|
|
|
|
|
* | Unaudited |
Maturity Composition
As of July 31, 2013, the average maturity of the Funds total investments was 9.0 years, compared with 9.9 years at October 31, 2012 and 10.5 years at July 31, 2012. The table below shows the maturity composition of the Funds investments as of July 31, 2013, compared with the previous nine and twelve months:
Under 3 Years | 3 to 5 Years | 5 to 10 Years | 10 Years & Over | |||||||||||||
Date |
% | % | % | % | ||||||||||||
July 31 2013* |
27.5 | 11.7 | 42.7 | 18.1 | ||||||||||||
October 31, 2012 |
18.9 | 17.2 | 36.2 | 27.7 | ||||||||||||
July 31 2012* |
18.7 | 14.0 | 37.9 | 29.4 | ||||||||||||
|
|
|
|
|
|
|
|
* | Unaudited |
Aberdeen Global Income Fund, Inc.
Notes to Portfolio of Investments (unaudited)
July 31, 2013
Summary of Significant Accounting Policies
(a) Security Valuation:
The Fund is required to value its securities at fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
Long-term debt and other fixed-income securities are valued at the last quoted or evaluated bid price on the valuation date provided by an independent pricing service provider. If there are no current day bids, the security is valued at the previously applied bid. Short-term debt securities (such as commercial paper, and U.S. treasury bills) having a remaining maturity of 60 days or less are valued at amortized cost, which approximates fair value. Debt and other fixed-income securities are determined as Level 2 investments.
Exchange traded derivatives are generally Level 1 investments and over-the-counter derivatives are generally Level 2 investments.
In the event that a securitys market quotations are not readily available or are deemed unreliable, the fair value of a security is determined by the Funds Pricing Committee (which is appointed by the Board of Directors (the Board)), taking into account the relevant factors and surrounding circumstances. A security that has been fair valued by the Pricing Committee may be classified as Level 2 or 3 depending on the nature of the inputs.
In accordance with the authoritative guidance on fair value measurements and disclosures under accounting principles generally accepted in the United States of America (GAAP), the Fund discloses the fair value of its investments using a three-level hierarchy that classifies the inputs to valuation techniques used to measure the fair value. The hierarchy assigns Level 1 measurements to valuations based upon unadjusted quoted prices in active markets for identical assets, Level 2 measurements to valuations based upon adjusted quoted prices in active markets for identical assets, and Level 3 measurements to valuations based upon unobservable inputs that are significant to the valuation. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability, which are based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entitys own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. A financial instruments level within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. The three-tier hierarchy of inputs is summarized below:
Level 1quoted prices in active markets for identical investments;
Level 2other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk); or
Level 3significant unobservable inputs (including the Funds own assumptions in determining the fair value of investments).
A summary of standard inputs is listed below:
Security Type |
Standard Inputs |
|||
Debt and other fixed-income securities | Reported trade data, broker-dealer price quotations, benchmark yields, issuer spreads on comparable securities, credit quality, yield, and maturity | |||
Forward foreign currency contracts | Forward exchange rate quotations | |||
Swap agreements | Market information pertaining to the underlying reference assets, i.e., credit spreads, credit event probabilities, fair values, forward rates, and volatility measures |
Notes to Portfolio of Investments (unaudited) (continued)
July 31, 2013
The following is a summary of the inputs used as of July 31, 2013 in valuing the Funds investments at fair value. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Please refer to the Portfolio of Investments for a detailed breakout of the security types:
Assets |
Level 1 | Level 2 | Level 3 | |||||||||
Fixed Income Investments |
||||||||||||
Corporate Bonds |
$ | | $ | 28,031,485 | $ | | ||||||
Government Bonds |
| 116,092,578 | | |||||||||
|
|
|
|
|
|
|||||||
Total Fixed Income Investments |
| 144,124,063 | | |||||||||
Short-Term Investment |
| 3,802,000 | | |||||||||
|
|
|
|
|
|
|||||||
Total Investments |
$ | | $ | 147,926,063 | $ | | ||||||
|
|
|
|
|
|
|||||||
Other Financial Instruments |
||||||||||||
Forward Foreign Currency Exchange Contracts |
$ | | $ | 178,170 | $ | | ||||||
Interest Rate Swap Agreements |
| 331,167 | | |||||||||
|
|
|
|
|
|
|||||||
Total Other Financial Instruments |
$ | | $ | 509,337 | $ | | ||||||
|
|
|
|
|
|
|||||||
Total Assets |
$ | | $ | 148,435,400 | $ | | ||||||
|
|
|
|
|
|
|||||||
Liabilities |
||||||||||||
Other Financial Instruments |
||||||||||||
Forward Foreign Currency Exchange Contracts |
$ | | $ | (240,433 | ) | $ | | |||||
Interest Rate Swap Agreements |
| (6,288 | ) | | ||||||||
|
|
|
|
|
|
|||||||
Total Liabilities - Other Financial Instruments |
$ | | $ | (246,721 | ) | $ | | |||||
|
|
|
|
|
|
Amounts listed as are $0 or round to $0.
For movements between the levels within the fair value hierarchy, the Fund has adopted a policy of recognizing transfers at the end of each period. During the period ended July 31, 2013, there were no transfers between Levels 1, 2 or 3. For the period ended July 31, 2013, there have been no significant changes to the fair valuation methodologies.
(b) Repurchase Agreements:
The Fund may enter into repurchase agreements under the terms of a Master Repurchase Agreement. It is the Funds policy that its custodian/counterparty segregate the underlying collateral securities, the value of which exceeds the principal amount of the repurchase transaction, including accrued interest. The repurchase price generally equals the price paid by the Fund plus interest negotiated on the basis of current short-term rates. To the extent that any repurchase transaction exceeds one business day, the collateral is valued on a daily basis to determine its adequacy. Under the Master Repurchase Agreement, if the counterparty defaults and the value of the collateral declines or if bankruptcy proceedings are commenced with respect to the counterparty of the security, realization of the collateral by the Fund may be delayed or limited. The Fund held a repurchase agreement of $3,802,000 as of July 31, 2013. The value of the related collateral exceeded the value of the repurchase agreement at period end.
(c) Restricted Securities:
Restricted securities are privately-placed securities whose resale is restricted under U.S. securities laws. The Fund may invest in restricted securities, including unregistered securities eligible for resale without registration pursuant to Rule 144A and privately-placed securities of U.S. and non-U.S. issuers offered outside the U.S. without registration pursuant to Regulation S under the Securities Act of 1933, as amended (the 1933 Act). Rule 144A securities may be freely traded among certain qualified institutional investors, such as the Fund, but resale of such securities in the U.S. is permitted only in limited circumstances.
(d) Foreign Currency Translation:
Foreign securities, currencies, and other assets and liabilities denominated in foreign currencies are translated into U.S. Dollars at the exchange rate of said currencies against the U.S. Dollar, as of the Valuation Time, as provided by an
Notes to Portfolio of Investments (unaudited) (continued)
July 31, 2013
independent pricing service approved by the Board. The Valuation Time is as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time).
Foreign currency amounts are translated into U.S. Dollars on the following basis:
(i) | market value of investment securities, other assets and liabilities at the exchange rates at the current daily rates of exchange; and |
(ii) | purchases and sales of investment securities, income and expenses at the rate of exchange prevailing on the respective dates of such transactions. |
The Fund isolates that portion of the results of operations arising from changes in the foreign exchange rates due to the fluctuations in the market prices of the securities held at the end of the reporting period. Similarly, the Fund isolates the effect of changes in foreign exchange rates from the fluctuations arising from changes in the market prices of portfolio securities sold during the reporting period.
Net exchange gain/(loss) is realized from sales and maturities of portfolio securities, sales of foreign currencies, settlement of securities transactions, dividends, interest and foreign withholding taxes recorded on the Funds books. Net unrealized foreign exchange appreciation/(depreciation) includes changes in the value of portfolio securities and other assets and liabilities arising as a result of changes in the exchange rate. The net realized and unrealized foreign exchange gain/(loss) shown in the composition of net assets represents foreign exchange gain/(loss) for book purposes that may not have been recognized for tax purposes.
Foreign security and currency transactions may involve certain considerations and risks not typically associated with those of domestic origin, including unanticipated movements in the value of the foreign currency relative to the U.S. Dollar. Generally, when the U.S. Dollar rises in value against foreign currency, the Funds investments denominated in that currency will lose value because its currency is worth fewer U.S. Dollars; the opposite effect occurs if the U.S. Dollar falls in relative value.
(e) Derivative Financial Instruments:
The Fund is authorized to use derivatives to manage currency risk, credit risk and interest rate risk and to replicate or as a substitute for physical securities. Losses may arise due to changes in the value of the contract or if the counterparty does not perform under the contract.
Forward Foreign Currency Exchange Contracts:
A forward foreign currency exchange contract (forward contract) involves an obligation to purchase and sell a specific currency at a future date at a price set at the time of the contract. Forward contracts are used to manage the Funds currency exposure in an efficient manner. They are used to sell unwanted currency exposure that comes with holding securities in a market, or to buy currency exposure where the exposure from holding securities is insufficient to give the desired currency exposure either in absolute terms or relative to the benchmark. The use of forward contracts allows the separation of decision-making between markets and their currencies. The forward contract is marked-to-market daily and the change in market value is recorded by the Fund as unrealized appreciation or depreciation. Forward contracts prices are received daily from an independent pricing provider. When the forward contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. The Fund could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts and from unanticipated movements in exchange rates.
Futures Contracts:
The Fund may invest in financial futures contracts (futures contracts) for the purpose of hedging its existing portfolio securities, or securities that the Fund intends to purchase, against fluctuations in value caused by changes in prevailing market interest rates or prices. Futures contracts may also be entered into for non-hedging purposes; however, in those
Notes to Portfolio of Investments (unaudited) (continued)
July 31, 2013
instances, the aggregate initial margin and premiums required to establish the Funds positions may not exceed 5% of the Funds net asset value after taking into account unrealized profits and unrealized losses on any such contract it has entered.
Upon entering into a futures contract, the Fund is required to pledge to the broker an amount of cash and/or other assets equal to a certain percentage of the contract amount. Subsequent payments, known as variation margin, are calculated each day, depending on the daily fluctuations in the fair value/market value of the underlying assets. An unrealized gain/(loss) equal to the variation margin is recognized on a daily basis. Futures contracts are valued daily at their last quoted sale price on the exchange on which they are traded.
A sale of a futures contract means a contractual obligation to deliver the securities or foreign currency called for by the contract at a fixed price at a specified time in the future. A purchase of a futures contract means a contractual obligation to acquire the securities or foreign currency at a fixed price at a specified time in the future.
Should market conditions change unexpectedly, the Fund may not achieve the anticipated benefits of the futures contracts and may realize a loss. The use of futures transactions for hedging purposes involves the risk of imperfect correlation in movements in the price of futures contracts, interest rates and the value/market value of the underlying hedged assets. During the period ended July 31, 2013, the Fund did not hold any futures contracts.
Swaps:
A swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or calculated by reference to changes in specified prices or rates for a specified amount of an underlying asset or notional principal amount. The Fund will enter into swaps only on a net basis, which means that the two payment streams are netted out, with the Fund receiving or paying, as the case may be, only the net amount of the difference between the two payments. Risks may arise as a result of the failure of the counterparty to the swap contract to comply with the terms of the swap contract. The loss incurred by the failure of a counterparty is generally limited to the net interest payment to be received by the Fund, and/or the termination value at the end of the contract. Therefore, the Fund considers the creditworthiness of each counterparty to a swap contract in evaluating potential credit risk. Additionally, risks may arise from unanticipated movements in interest rates or in the value of the underlying reference asset or index. The Fund records unrealized gains/(losses) on a daily basis representing the value and the current net receivable or payable relating to open swap contracts. Net amounts received or paid on the swap contract are recorded as realized gains/(losses). Fluctuations in the value of swap contracts are recorded for financial statement purposes as unrealized appreciation or depreciation of swap contracts. Realized gains/(losses) from terminated swaps are included in net realized gains/(losses) on swap contracts transactions.
The Fund is a party to International Swap Dealers Association, Inc. Master Agreements (ISDA Master Agreements). These agreements are with select counterparties and they govern transactions, including certain over-the-counter derivative and foreign exchange contracts, entered into by the Fund and the counterparty. The ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral, and events of default or termination. The occurrence of a specified event of termination may give a counterparty the right to terminate all of its contracts and affect settlement of all outstanding transactions under the applicable ISDA Master Agreement.
(f) Security Transactions, Investment Income and Expenses:
Securities transactions are recorded on the trade date. Realized and unrealized gains/(losses) from security and currency transactions are calculated on the identified cost basis. Interest income is recorded on an accrual basis. Discounts and premiums on securities purchased are accreted or amortized on an effective yield basis over the estimated lives of the respective securities. Expenses are accrued on a daily basis.
(g) Distributions:
Notes to Portfolio of Investments (unaudited) (continued)
July 31, 2013
The Fund has a managed distribution policy to pay distributions from net investment income supplemented by net realized foreign exchange gains, net realized short-term capital gains and return of capital distributions, if necessary, on a monthly basis. The managed distribution policy is subject to regular review by the Board. The Fund will also declare and pay distributions at least annually from net realized gains on investment transactions and net realized foreign exchange gains, if any. Dividends and distributions to shareholders are recorded on the ex-dividend date.
Dividends and distributions to shareholders are determined in accordance with federal income tax regulations, which may differ from GAAP. These differences are primarily due to differing treatments for foreign currencies, loss deferrals and recognition of market discount and premium.
(h) Federal Income Taxes:
The U.S. federal income tax basis of the Funds investments and the net unrealized appreciation as of July 31, 2013 were as follows:
Cost |
Appreciation |
Depreciation |
Net Unrealized Appreciation |
|||||||||
$147,295,366 | $ | 5,293,788 | $ | (4,663,091 | ) | $ | 630,697 | |||||
|
|
|
|
|
|
|
Item 2 Controls and Procedures
a) | The Registrants Principal Executive Officer and Principal Financial Officer concluded that the Registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c))) were effective as of a date within 90 days prior to the filing date of this report (the Evaluation Date), based on their evaluation of the effectiveness of the Registrants disclosure controls and procedures as required by Rule 30a-3(b) under the Investment Company Act of 1940 (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)), as of the Evaluation Date. |
b) | There were no changes in the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 (17 CFR 270.30a-3(d))) that occurred during the Registrants last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrants internal control over financial reporting. |
Item 3. Exhibits
(a) | Certification of Principal Executive Officer and Principal Financial Officer of the Registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is attached hereto as Exhibit 99.302CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Aberdeen Global Income Fund, Inc. | ||
By: | /s/ Christian Pittard | |
Christian Pittard, | ||
Principal Executive Officer of | ||
Aberdeen Global Income Fund, Inc. | ||
Date: | September 26, 2013 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: | /s/ Christian Pittard | |
Christian Pittard, | ||
Principal Executive Officer of | ||
Aberdeen Global Income Fund, Inc. | ||
Date: | September 26, 2013 | |
By: | /s/ Andrea Melia | |
Andrea Melia, | ||
Principal Financial Officer of | ||
Aberdeen Global Income Fund, Inc. | ||
Date: | September 26, 2013 |