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Aberdeen Asia-Pacific Income Fu Message Board

  • profit29man profit29man Sep 21, 2000 3:29 PM Flag

    EQUITLINK & RETURN OF CAPITAL

    For the benefit of investors in FAX, I phoned
    Equitlink today at 800-522-5465 & spoke with somebody in
    "Investor Relations."

    I was told this afternoon that
    we as investors misunderstand the "RETURN OF
    CAPITAL." I was informed that 4 1/2 cents per share is the
    correct amount to figure for the return of capital. By
    the time the year is over, there may not be any
    return of capital. FAX won't know the exact amount until
    year end.

    I thought this would be of interest.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Profit29man here's a few news items from the
      fund:
      ""The Fund estimates that distributions year to date,
      including the distribution paid on September 15, 2000, are
      made up of 61% net investment income, 1% realized
      capital gains, and 38% return of paid-in
      capital""

      from June:
      ""The Fund estimates that distributions
      year to date, including the distribution paid on June
      16, 2000, are made up of 67% net investment income,
      2% realized capital gains, and 31% return of paid-in
      capital""

      That seems pretty clear. And the IR person thinks by
      year-end there may be no ROC? That doesn't sound like a
      very responsible thing for an IR person to
      say.

      And ROC is misunderstood by us? uh? With all the
      funny games that go on in CEF fund's accounting I'm in
      shock someone would say that. Funny things they do like
      NOT putting the preferred stock dividend in the
      expenses of the fund. By paying out ROC to preferred
      holders and inflating the Net Investment Income % to
      S/H's? Sounds like a case of too many Fosters at lunch.

      • 2 Replies to flipper_58
      • FLIPPER, I agree that this is what the fund has
        told investors. However, I wish you would phone
        EQUITILINK at 1-800-522-5465. Simply talk to any of the
        INVESTOR RELATIONS personnel & see what they tell you. I
        just happened to pick a lady. I don't know any of
        them. I can only tell you that the one I chose said
        that investors are misinformed. THANKS!

      • This is based upon the many articles I have read
        from the Australian sites reguarding the AUD recovery
        to the US$.
        1. It is likely to take to the mid
        November area after the US elections.
        2. They say the
        real present value of the AUD is about .63 cents to
        the US$
        3. By November, it is expected that
        interest rates will have been increased in Europe and
        Australia while the US is unchanged.
        4. The US economy
        is weakening and profit projections are being
        lowered. A nice US stock market correction would reduce
        the luster of pouring money into the US. Is this hope
        or projectipon? ?
        5. Whatever affect the Olympics
        will have on the Australian economy should by then be
        felt.
        6. I don't see any .80 or .90 cents projections for
        the AUD. In fact I don't even see .70 being
        projected.
        7. Will FAX tax loss selling run head in to this
        projected favorable period? ? ?
        BW

    • As I understand "return of capital" is return of
      our investment. What we want is A RETURN "ON" our
      investment. In other words,
      dividends on the income from
      our invested capital.
      Am I missing something?

      • 1 Reply to charliewalka
      • My definition of "return of capital" is simply
        part of the ORIGINAL money invested in FAX returned to
        common shareholders as part of the dividend. When you
        speak of return, I believe you are referring to the
        YIELD. This is simply derived by taking the present 54
        cent a year dividend and dividing it by 4 3/16 which
        in this case is 12.9%.

 
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