Edison update on abrdn Latin American Income Fund
London, UK, 1 September 2022
Edison issues update on abrdn Latin American Income Fund (ALAI)
abrdn Latin American Income Fund (ALAI) is managed by two well-resourced, experienced teams at abrdn (global emerging markets equities and emerging market debt) offering investors exposure to both equities and fixed income securities. Despite outpacing the performance of other markets in a volatile 2022 year to date, Latin America continues to look very inexpensive compared to other regions on both an absolute and relative basis, suggesting that political risks may already be being priced in. Central banks in the region have followed conventional monetary policies and some are nearing the end of their interest-rate tightening cycles in response to rising inflation, at a time when developed regions have just started to raise interest rates, which could lead to an improvement in investor sentiment towards Latin America.
ALAI's 18.3% discount is towards the wider end of the 4.2% to 19.9% range over the last 12 months and is above the 10.7% to 13.1% range of average discounts over the last one, three, five and 10 years. An improvement in the fund's relative performance could see it being afforded a higher valuation. ALAI is on course for the seventh consecutive year of a 3.50p per share annual dividend and currently offers an attractive 6.7% yield.
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