Abrdn Emerging Markets Equity Income Fund Inc
AEF
New York Stock Exchange American- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Hugh Young
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- Bow Bells House London United Kingdom EC4M 9HH
- IPO Date
- Sep 26, 1989
- CIK
- 0000846676
- Website
- aberdeench.com
- Similar Companies
- Business
- Abrdn Emerging Markets ex-China Fund, Inc. (NYSE American: AEF) is a non-diversified, closed-end management investment company that seeks to provide both current income and long-term capital appreciation by investing at least 80% of its net assets (including any borrowings for investment purposes) in equity securities of companies in emerging market countries, excluding China. Under normal conditions, the Fund invests primarily in dividend-paying emerging market equities, with a focus on sectors such as information technology, financials, consumer discretionary, and communication services; top holdings include Taiwan Semiconductor Manufacturing Co. Ltd., Tencent Holdings Ltd., and Samsung Electronics Co. Ltd.; the portfolio is geographically diversified across countries including India, Taiwan, South Korea, Mexico, Brazil, and Vietnam. Managed by abrdn Investments Limited, the Fund employs a bottom-up investment approach emphasizing stock fundamentals and quality assets identified through intensive research. Founded in 1989 and formerly known as Aberdeen Chile Fund, Inc. (with subsequent name changes including to Abrdn Emerging Markets Equity Income Fund, Inc.), the Fund is headquartered at 1900 Market Street, Suite 200, Philadelphia, PA 19103, with key operations linked to abrdn plc in Edinburgh, United Kingdom. It targets institutional and retail investors seeking exposure to emerging markets ex-China, benchmarking performance against the MSCI Emerging Markets ex-China Index (Net Total Return); the Fund utilizes a revolving credit facility with The Bank of Nova Scotia (currently $50 million committed) to enhance returns through leverage. In December 2024, following a strategic review by the Board of Directors, the Fund implemented significant changes including a name change to Abrdn Emerging Markets ex-China Fund, Inc., a revision to its 80% non-fundamental investment policy to exclude China exposure (positioning it as the sole U.S. closed-end fund with this strategy), approval of a 20% tender offer at 98% of NAV in Q1 2025 (which expired with preliminary results announced in February 2025), a new three-year performance-based conditional tender offer policy commencing January 2025, and an increase in the managed distribution rate from 6.5% to 10% effective with the March 2025 quarterly distribution. In June 2024, the Fund renewed its revolving credit facility for one year and maintained an open market repurchase program allowing up to 10% of shares annually; no repurchases occurred in the semi-annual period ended June 30, 2024. These enhancements aim to align the Fund more closely with market fundamentals, mitigate trading discounts to NAV, and sustain quarterly cash distributions to shareholders.