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

At close Aug 29, 2014

Market Price$17.56
Unadjusted NAV**$20.02

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

June 2014

  • Israeli equities rose marginally in June as monetary policy from the world’s major central banks remained accommodative. However, the Iraq insurgency capped gains amid concerns that the violence might spread in the Middle East. The higher oil price also weighed on investor sentiment.
  • In Fund-related news, Teva Pharmaceutical reached a settlement to sell limited amounts of a generic version of its ProAir HFA asthmatic treatment produced by Perrigo. Separately, Teva’s chairman, Philip Frost, announced plans to retire before his term ends in 2015. Three other directors are also set to leave this year. The changes are generally expected to restore long-term strategic focus and efficiency to the board and the group’s operations.
  • Property developer Azrieli Group agreed to sell its energy unit Sonol Israel for 450 million shekels (roughly US$132 million). The move is part of its aim to divest non-core businesses. First International Bank of Israel (FIBI) sold its United Kingdom subsidiary, a prudent move, in our opinion, given that some of FIBI’s global operations have barely contributed to its overall profitability.
  • In June, we pared the Fund’s positions in banks Hapoalim and Leumi, considering subdued market expectations for rate increases and loan growth, as well as our concerns over their cost controls.
  • Conversely, we took advantage of recent share price weakness to add to supermarket operator Rami Levi and drug-maker Perrigo. In our view, both companies have strong brands and should continue to see robust growth in their core product categories over the long term. We also topped up vehicle tracking company Ituran Location and Control, as we believe it has an attractive growth profile in Brazil and a reasonable valuation.
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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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