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Aberdeen Latin American Income Fund Ltd.

Aberdeen Latin American Income Fund Ltd.

Sector: Unit Investment Trusts, Face-Amount Certificate Offices, and Closed-End Management Investment Offices Region: Jersey


: | London Stock Exchange: ALAI


Objective of Aberdeen Latin American Income Fund: The investment objective of the Company is to provide Ordinary shareholders with a total return, with an above average yield, primarily through investing in Latin America.

About Aberdeen Asset Management Plc: Aberdeen Asset Management Plc is a global investment management group that manages assets for both institutional and retail clients from offices around the world. The company operates independently and only manages assets for third parties, allowing it to focus solely on their needs without conflicts of interest. Its clients access investment expertise across the three asset classes including equities, fixed income and property. The company was founded on July 1, 1983 and is headquartered in Aberdeen, UK.

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Important information Risk factors you should consider prior to investing: Movements in exchange rates can impact on both the level of income received and the capital value of your investment. If the currency of your country of residence strengthens against the currency in which the underlying investments of the Company are made, the value of your investment will reduce and vice versa. The Company invests in emerging markets which tend to be more volatile than mature markets and the value of your investment could move sharply up or down. In some circumstances the underlying investments may become illiquid which may constrain the Investment Manager’s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise putting the value of your investment at risk. In common with most investment companies, investment trusts may borrow to finance further investment (gearing). The use of gearing is likely to lead to volatility in the Net Asset Value (NAV) meaning that a relatively small movement, down or up, in the value of a trust’s assets will result in a magnified movement, in the same direction, of that NAV. In order to maintain the high level of dividend paid by the Company some of the assets selected for the underlying portfolio may be liable to diminish in capital value over time. The value of shares and the income from them can go down as well as up and you may get back less than the amount invested. Past performance is not a guide to the future. There is no guarantee that the market price of shares in the Company will fully reflect their underlying Net Asset Value. As with all stock exchange investments the value of investment Company shares purchased will immediately fall by the difference between the buying and selling prices, the bid-offer spread. High income investments, in order to meet their income objectives, may charge expenses to capital which in turn may erode the capital value of the investment to less than the amount invested. In certain circumstances, the Manager may enter into derivatives transactions in order to manage risk in the portfolio and generate income. The market in these instruments can be highly volatile and there is a high risk of loss. Derivatives may only be used subject to the restrictions set out for the Company. Other important information: Issued by Aberdeen Asset Managers Limited which is authorised and regulated by the Financial Services Authority in the United Kingdom. Registered Office: 10 Queen’s Terrace, Aberdeen AB10 1YG. Registered in Scotland No. 108419. An investment trust should be considered only as part of a balanced portfolio. Under no circumstances should this information be considered as an offer or solicitation to deal in investments.

Aberdeen Latin American Income Fund Ltd. video

Quite a tough year

Executives

Richard Prosser, Chairman
Richard is a chartered accountant, a partner of the Appleby Group and a director of its wholly owned trust company, Appleby Trust (Jersey) Limited, a corporate and fiduciary administrator authorised to conduct trust company business in Jersey. Mr Prosser is a director of a number of companies quoted in London and elsewhere, including property companies, hedge funds and investment management companies. He is chairman of Threadneedle Investments (C.I.) Limited (the manager of the Threadneedle Property Unit Trust) and director of Threadneedle European Property Fund. He is also Chairman of FTSEhx, a Dublin listed hedge fund. In addition, he chairs the Investment Policy Committee of Appleby Trust, which monitors and evaluates the performance of the asset managers throughout the group.
Martin Adams, Non-Executive Director
Martin is an independent specialist in the management and restructuring of funds and private investments principally in emerging markets. He has over 25 years’ investment and banking experience in Asia and Europe. Mr Adams is chairman of Kubera Cross-Border Fund Limited and Trikona Trinity Capital Plc, managing director of the Vietnam Fund Management Company group and a non-executive director of ARC Capital Holdings Limited, Metage Funds Limited, Metage Special Emerging Markets Fund Limited and Terra Catalyst Fund. Prior to establishing Vietnam Fund Management Company Limited in 1991, Mr Adams worked for the Lloyds Bank group for 10 years. He resides in Portugal.
Jeremy Arnold, Non-Executive Director
Jeremy retired in 1994 at age 56 and has since lived full-time in Jersey. His career began in 1957 as an articled clerk with an old firm of Chartered Accountants in the City, which was taken over by Touche, Ross shortly before he qualified in 1962. Mr Arnold worked for Touche, Ross in Sydney and San Francisco before joining Andersen in London in 1966. He opened the firm’s Birmingham office in 1971. He became a partner in 1974 and transferred to the Toronto office in 1976 where he ran the audit practice for 13 years. In 1989, he moved back to Europe to work in the Brussels office until his retirement in 1994. During his time in Belgium, he was the liaison partner for training in Europe, Middle East, India, and Africa. Mr Arnold’s clients have been in a wide variety of industries such as insurance broking, manufacturing, consumer products, film and music production, advertising and retailing. Mr Arnold has a number of directorships as well as being a non-executive adviser to a Channel Islands law firm.
George Baird, Non-Executive Director
George is a resident of Jersey. He graduated from Dundee University in 1971 with a Law Degree and joined Arthur Young McLelland Moores & Co qualifying as a Chartered Accountant in 1975. After working in Local Government in Scotland he moved to Jersey in 1980 and was appointed Treasurer of the States of Jersey in 1991. Prior to his retirement in 2002 he was group finance director of Mourant du Feu and Jeune. He has several non-executive directorships in the Channel Islands, including chairmanship of Invesco Leveraged High Yield Fund Ltd and Satus European Debt Strategies Ltd.
Martin Gilbert, Non-Executive Director
Martin Gilbert is a founder shareholder and Chief Executive of Aberdeen Asset Management PLC, the holding company of the fund management group that was established in 1983.

Martin is a director of a number of investment trusts, Chairman of FirstGroup PLC and a non-executive director of British Sky Broadcasting Group PLC. He is Adjunct Professor of Finance at Imperial College Business School and a member of the Scottish Government's Financial Services Advisory Board, the EFAMA President's Advisory Council and the Institute of Chartered Accountants of Scotland. In December 2008, Martin was named European Personality of the Year at the Funds Europe Awards. In 2009, he was named Ernst & Young Overall Scotland Entrepreneur Of The Year. In 2011, he was named Scotland PLC CEO of the Year at the Business Insider/PWC Scotland PLC Awards.

Martin was educated in Aberdeen and has an MA in Accountancy and an LLB. He divides his time between Aberdeen, where the business has always been headquartered, and London, as well as overseeing the international operations of the Group.

He is married with three children and is a keen golfer and sailor.

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