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Aberdeen Israel Fund, Inc. (NYSE MKT: ISL)
- (EDT)
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At close May 20, 2013
| NAV | $16.99 |
| Price | $14.48 |
| Premium/(Discount) | -14.77% |
| Unadjusted NAV** | $16.99 |
The NAV information is provided by the Fund's accounting agent. The price is as reported by the exchange on which the Fund trades. 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 Israel Fund, Inc. (NYSE MKT: ISL)
Investment Objective
The Fund seeks long-term capital appreciation by investing primarily in equity securities of Israeli companies.
For more detailed information on the specific risks associated with this fund, please view the Important Risk Considerations tab.
Investment Policies
It is the policy of the Fund to invest its assets in Israeli equity securities. For these purposes, “Israeli securities” includes common and preferred stock, warrants, options and debt securities organized under the laws of Israel.
The information contained above provides only a brief summary description of the Fund's investment objective and investment policies.
Aberdeen Israel Fund, Inc. Webcast Replay
View this webcast replay featuring Susan McDonald of Aberdeen’s Global Emerging Markets team. Topics include:
- An update on the Aberdeen Israel Fund, Inc. (ISL)
- A review of the Fund's current performance and positioning.
- How current market conditions have affected Israel and future outlook for the region.
- Future outlook for the region.
Aberdeen Israel Fund, Inc. Fund Manager Interview
In this Fund Manager Interview, hear Aberdeen Senior Investment Manager, Andy Brown, give a review of The Israel Fund, Inc. and Aberdeen’s outlook on Israel. Andy will explain that despite geo-political and energy price volatility challenges, Aberdeen believes Israel offers a compelling long-term investment opportunity.
View nowFund Managers’ Monthly Report
March 2013
- Israel’s benchmark TA-100 Index rebounded in February as the new government was sworn in. Additionally, policymakers in Europe and the U.S. pledged to support the global economy by maintaining loose monetary policy.
- The central bank kept its key interest rate steady at 1.75% as rising house prices were offset by slowing gross domestic product (GDP) growth. It also hiked the amount of capital that banks must hold against most home loans, in further efforts to cool the property boom.
- Fourth-quarter GDP growth moderated to 2.5% from the prior quarter, weighed down by weaker investments and exports. For the full 2012 calendar year, GDP rose 3.2%, compared with 4.6% in 2011.
- In February, we received cash from the delisting of our holding, software company Retalix, which was acquired by U.S.-based NCR. With the proceeds we added to vehicle tracking systems supplier, Ituran, and surveillance expert, Nice Systems.
- In earnings news, grocery store chain operator Shufersal reported significant cost cuts, which partly made up for weaker revenues both in the fourth quarter and the full year of 2012. Ituran’s fourth-quarter results were decent, driven by subscriber growth in Brazil, while its domestic business remained stable.
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Disclaimer
Pursuant to valuation policies adopted by the Board of Directors of the Fund, the Fund values foreign equity securities that primarily trade in certain markets that close ahead of the Fund’s daily 4:00 pm Eastern net asset value (“NAV”) calculation time at their fair values using prices provided by third-party independent pricing services. The fair value of each such security generally is calculated by applying a valuation factor provided by the independent pricing service to the last sales price for that security, or, if, the pricing service is unable to provide a fair value for a security, at the price at the close of the exchange on which it is principally traded, subject to adjustment by the Fund’s Pricing Committee. These daily fair valuations seek to reflect information available after the local market close that may affect the value of the foreign equity securities held by the Fund. As a result, this official NAV calculation reflects adjustments that may cause it to vary from a calculation based solely on closing prices. In contrast, the “Unadjusted NAV” of the Fund (shown above) is for informational purposes only and is computed using the closing prices on the relevant exchange. It does not reflect any daily fair valuation adjustments of the Fund’s foreign securities. The Unadjusted NAV does not represent the official NAV of the Fund, nor is the Unadjusted NAV used for Fund accounting or performance purposes. Investors should not rely upon the Unadjusted NAV when making their investment decisions.