ABERDEEN ASSET MGT UNSPON ADR EA REPR 2 ORD (OTCMKTS:ABDNY) was a notable decliner during Friday’s trading session declining by 2% on relatively high volumes, which were 1.5 times the daily average turnover. Bears seem to holding the upper hand at the current moment as the stock has been forming lower tops and lower bottoms indicative of the strong bearish momentum. Aberdeen currently trades below all important moving averages, which is considered to be a bearish signal. The momentum oscillators show no signs of a reversal. The stock hit a fresh 52-week low during the trading session, which is a negative.
ABERDEEN ASSET MGT UNSPON ADR EA REPR 2 ORD (OTCMKTS:ABDNY) made public the record and payment for the monthly distribution.
As per the reports, company’s wholly owned Aberdeen Asia-Pacific Income Fund stated that it would pay a distribution of $0.35 per share to all the shareholders who would associate with the company latest by December 31, 2015. The date of payment has been finalized on January 12, 2016.
Insights of The Matter
The primary objective of this distribution policy is to offer a stable monthly income to shareholders out of company’s current proceeds like paid-in-capital or realized capital.
The U.S. Tax rules applicable to Aberdeen Asia-Pacific Fund clarify that the amount and character of the entire distributed income can be determined not before the end of its fiscal year. At the same time, the Section 19 of Investment Company Act of 1940 states that the fund may have to reveal the information about the source of distributed income to shareholders.
The Global Expansion Initiatives
Meanwhile, Aberdeen Asset Management, having more than $490 billion under management, announced a few months back that it was interested in expanding its global alternative platforms. Although there are multiple options in mind, it wants to keep the primary focus on private equity.
The first option that it wants to go ahead with is FLAG Capital Management, which is known for providing real estate and private equity solutions to many clients in different cities. With the help of this acquisition, Aberdeen’s expertise in fields likes private-market allocations, property market allocations, hedge funds, and infra investments are likely to expand at an amazing pace.
The senior management team of Aberdeen is excited to make these two announcements and promises to continue making efforts to live up to shareholders’ expectations in the future as well. It will keep making required changes to enhance the operational and financial performance of the company from time to time.