Two Aberdeen funds now allow investments in private placements

By Toni Weeks

San Diego, Nov. 8 - The Aberdeen Asia Bond Institutional Fund and the Aberdeen Emerging Markets Debt Local Currency Fund announced they have added private placements, including securities issued under Regulation S, to the list of permissible types of bonds allowed by the fund's investment strategy, according to a 497 filing with the Securities and Exchange Commission.

In addition, both funds have added a statement concerning restricted securities, including Regulation S securities, to the "principal risks" section of their respective prospectuses saying that such securities could have the effect of increasing the funds' level of illiquidity. Restricted securities may be less liquid than other investments because they might not always be readily sold in public markets, the statement noted. In addition, the fund might be unable to dispose of them promptly or at prices reflecting their true value.

The funds are managed by Philadelphia-based Aberdeen Asset Management.

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