Aberdeen Asia-Pacific Income Fund to offer shares via JonesTrading

By Toni Weeks

San Luis Obispo, Calif., March 1 - Aberdeen Asia-Pacific Income Fund, Inc. has entered into an agreement with JonesTrading Institutional Services LLC to offer shares, according to a 497 filing with the Securities and Exchange Commission.

The non-diversified, closed-end management investment company seeks to provide current income with capital appreciation as a secondary objective by investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in Asian debt securities, Australian debt securities and New Zealand debt securities.

Asian debt securities include debt securities of Asian issuers, inclusive of securities issued by Asian governmental entities as well as by banks, companies and other entities whether or not denominated in an Asian currency, debt securities of issuers denominated in or linked to an Asian currency, debt securities issued by entities not located in Asia but that derive at least 50% of their revenues from Asian countries or have at least 50% of their assets located in Asian countries and debt securities of subsidiaries of Asian issuers if the debt is guaranteed by the Asian parent company.

The maximum exposure to any one Asian country or Asian currency is limited to 20% and 10%, respectively, of the fund's total assets, with the exception of Korea, which is limited to 40% of the fund's total assets and whose currency exposure is limited to 25% of the fund's total assets.

At least 20% of the fund's total assets will be invested in Australian debt securities, and the fund may also invest up to 35% of its total assets in New Zealand debt securities.

Anthony Michael, Kenneth Akintewe, Nick Bishop, Adam McCabe, Yueh Ee-Leen and Thu Ha Chow comprise the portfolio management team.

The fund registered 25 million shares for maximum proceeds of $375 million. The last reported share price (NYSE MKT: FAX) on Feb. 15 was $7.81.

The shares are subject to a sales load of 1.5%. Management fees will run 0.65%, with total annual operating expenses expected at 1.27%.

Singapore-based Aberdeen Asset Management Asia Ltd. is the fund's investment manager, and Sydney, Australia-based Aberdeen Asset Management Ltd. is the fund's investment adviser.

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