ALAI.L Regulatory News (ALAI)

London, UK, 27 February 2020

Edison reviews Aberdeen Latin American Income Fund (ALAI)

Aberdeen Latin American Income Fund (ALAI) offers exposure to Latin American equities and government debt. It is managed by Aberdeen Standard Investments' (ASI's) global emerging markets equities and emerging market debt teams. While 2019 was a difficult year in terms of economic growth, the markets performed strongly, underlining the resilience of the region. The managers remain 'cautiously optimistic' on the outlook for Latin America, led by the largest economies Brazil and Mexico, which are supported by lower interest rates and stable inflation, while there is also a positive government reform agenda in Brazil. ALAI is continuing to deliver on its income objective without compromising on its capital growth potential. It has meaningful revenue reserves and the fund offers an attractive 5.1% yield.

ALAI's discount remains persistently wide, typically within a 10-16% range over the last three years. There is scope for an improved valuation if there is increased investor demand for exposure to Latin America. The current 12.5% discount to cum-income NAV compares to the 12.6% to 13.5% range of average discounts over the last one, three and five years. ALAI has paid a 3.5p per share annual dividend in each of the last four financial years and offers a 5.1% yield.

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