Aberdeen Global Income Fund to offer shares via JonesTrading

By Toni Weeks

San Luis Obispo, Calif., March 1 - Aberdeen Global 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 high current income with capital appreciation as a secondary objective by investing primarily in fixed-income securities.

The fund normally invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in debt securities, including at least 60% of its total assets in fixed-income securities of issuers in developed markets or investment-grade developing markets. The fund may invest up to 40% of its total assets in fixed-income securities rated below investment grade at the time of investment.

Anthony Michael, Victor Rodriguez, Nick Bishop, Kevin Daly and Patrick O'Donnell comprise the portfolio management team.

The fund registered 1.5 million shares for maximum proceeds of $60 million. The last reported share price (NYSE MKT: FCO) was $13.93 on Feb. 15.

The shares are subject to a sales load of 1.5%. Management fees will run 0.83%, with total annual operating expenses expected at 1.92%.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.