# Aberdeen Israel Fund, Inc. (NYSE MKT: ISL)
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Daily Data

At close Apr 16, 2014

Market Price$18.32
Unadjusted NAV**$20.52

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.

Webcast Update

Aberdeen Israel Fund, Inc. (ISL) Webcast Update

Listen to Aberdeen's Susan McDonald give a Q4 2013 update on the Aberdeen Israel Fund, Inc. and a 2014 outlook for the region.

Watch now


Aberdeen Israel Fund, Inc.

Members of Aberdeen's Global Emerging Markets Equity team speak about Israeli equities and why they believe the country has such good investment prospects. They speak about the specific sectors where they are finding opportunities, the potential economic effects of recent oil and natural gas discoveries in the region and why they believe Aberdeen's investment process is conducive to finding investment opportunities within Israel.

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Fund Managers’ Monthly Report

February 2014

  • Israeli equities rebounded in February after a shaky start to 2014. Recent wobbles in the U.S. economy reinforced hopes that the Federal Reserve would maintain loose monetary policy and concerns over tapering receded. However, Russia’s escalating geopolitical tension with the West over Ukraine tempered overall gains.
  • In Fund-related corporate news, one of First International Bank’s largest shareholders, Bino Liebermann, sold an additional 6% stake at a 3.5% discount to the market price, prompting a further share sell-off. Azrieli Group acquired land rights in Modi’in to build its first retirement home. The 1.5 billion-shekel (roughly $US432 million) industry is expected to expand faster than the economy due to the aging population.
  • In Fund-related results news, Teva Pharmaceutical reported healthy revenue growth in what was a better-than-expected fourth quarter. The good performance from its blockbuster multiple sclerosis drug Copaxone and the reaffirmation of previous forecasts were received positively by the market. We feel that Teva offers significant quality at its current valuation. Software provider Nice Systems saw good volume and revenue growth across all divisions. The company also announced another quarterly dividend and a new US$100 million share buyback. We continue to be reassured by positive growth in its bookings pipeline. Supermarket chain operator Shufersal’s results improved, suggesting that its strategy of closing loss-making branches was succeeding, while better-than-expected earnings from Israel Chemicals helped boost confidence that the worst pricing erosion in the potash industry was abating.
  • There were no major changes to the Fund in February.
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Section 16 Filings


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.

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