NPORT-EX 2 NPORT_302281985728801.htm

 

Portfolio of Investments (unaudited)

 

As of July 31, 2020

 

Principal
Amount
(000) or
Shares		   Description  Value
(US$)		 
CORPORATE BONDS—74.7%    
AUSTRALIA—2.4%    
USD 6,000   Australia and New Zealand Banking Group Ltd., (fixed rate to 06/15/2026, variable rate thereafter), 6.75%, 06/15/2026 (a)(b)  $6,708,720 
USD 6,845   Macquarie Bank Ltd., 3.62%, 06/03/2030 (b)   7,317,806 
USD 2,727   QBE Insurance Group Ltd., (fixed rate to 05/12/2025, variable rate thereafter), 5.88%, 05/12/2025 (b)   2,856,533 
USD 9,100   Santos Finance Ltd., 4.13%, 06/14/2027 (b)(c)   9,509,036 
USD 4,792   Virgin Australia Holdings Ltd., 8.13%, 05/15/2024 (b)(c)(d)   709,216 
SGD 250   Westpac Banking Corp., 4.11%, 04/15/2025   194,219 
          27,295,530 
CHINA-20.3%     
USD 5,100   Baidu, Inc., 4.88%, 08/14/2028 (c)   6,175,191 
USD 8,100   Bluestar Finance Holdings Ltd., 3.38%, 07/16/2024 (b)   8,442,954 
CNY 10,000   Central Huijin Investment, 3.67%, 01/16/2024   1,440,854 
SGD 1,250   China Aoyuan Group Ltd., 7.15%, 09/07/2020 (b)   905,386 
USD 6,400   China Aoyuan Group Ltd., 7.95%, 09/07/2020 (b)   6,527,915 
USD 3,800   China Construction Bank Corp., (fixed rate to 02/27/2024, variable rate thereafter), 4.25%, 02/27/2024 (b)(c)   4,099,152 
USD 4,000   China Construction Bank Corp.,(fixed rate to 06/24/2025, variable rate thereafter), 2.45%, 06/24/2025 (b)(c)   4,060,360 
CNY 40,000   China Delelopement Bank, 3.34%, 07/14/2025   5,743,792 
CNH 8,000   China Development Bank Hong Kong, 3.20%, 09/21/2023   1,155,242 
USD 3,929   China Huadian Overseas Development 2018 Ltd., (fixed rate to 06/23/2025, variable rate thereafter), 3.38%, 06/23/2025 (a)(b)   4,022,314 
CNY 10,000   China National Petroleum Corp., 3.72%, 09/20/2021   1,445,089 
USD 3,500   China Oil & Gas Group Ltd., 5.50%, 07/25/2021 (b)(c)   3,531,391 
USD 5,600   China Overseas Finance Cayman VIII Ltd., 3.45%, 07/15/2029 (b)   6,100,785 
USD 4,000   Chinalco Capital Holdings Ltd., 4.25%, 04/21/2022 (b)   4,035,904 
USD 3,700   CIFI Holdings Group Co. Ltd., 6.00%, 01/16/2023 (b)(c)   3,723,251 
USD 7,000   CIFI Holdings Group Co. Ltd., 6.55%, 03/28/2022 (b)(c)   7,280,232 
USD 3,500   CNAC HK Finbridge Co. Ltd., 3.50%, 07/19/2022 (b)   3,615,867 
USD 7,500   CNOOC Curtis Funding No 1 Pty Ltd., 4.50%, 10/03/2023 (b)   8,262,321 
USD 8,110   Country Garden Holdings Co. Ltd., 7.25%, 04/08/2023 (b)(c)   8,931,434 
MYR 10,000   Country Garden Real Estate Sdn Bhd, 6.40%, 05/06/2022   2,481,792 
SGD 2,500   Eastern Air Overseas Hong Kong Co. Ltd., 2.80%, 11/16/2020 (b)   1,807,678 
USD 6,800   ENN Clean Energy International Investment Ltd., 7.50%, 02/27/2021 (b)   6,884,573 
USD 3,200   Fufeng Group Ltd., 5.88%, 08/28/2021 (b)   3,264,681 
USD 3,000   Geely Automobile Holdings Ltd., 3.63%, 01/25/2023 (b)   3,031,991 
USD 5,400   HBIS Group Hong Kong Co. Ltd., 3.75%, 12/18/2022 (b)   5,455,128 
USD 3,470   Health & Happiness H&H International Holdings Ltd., 5.63%, 10/24/2021 (b)(c)   3,560,037 
USD 3,500   Huarong Finance II Co. Ltd., 3.25%, 06/03/2021 (b)   3,533,915 
USD 2,500   Huarong Finance II Co. Ltd., 5.50%, 01/16/2025 (b)   2,817,300 
USD 6,650   Longfor Group Holdings Ltd., 3.95%, 09/16/2029 (b)   7,157,131 
USD 4,700   Poly Real Estate Finance Ltd., 3.95%, 02/05/2023 (b)   4,921,059 
USD 1,000   Poly Real Estate Finance Ltd., 4.75%, 09/17/2023 (b)   1,078,984 
USD 3,463   Ronshine China Holdings Ltd., 7.35%, 12/15/2022 (b)(c)   3,537,786 
USD 5,760   Ronshine China Holdings Ltd., 8.10%, 12/09/2021 (b)(c)   5,999,321 
USD 2,310   Seazen Group Ltd., 6.45%, 06/11/2022 (b)   2,335,987 
USD 3,600   SF Holding Investment Ltd., 2.88%, 02/20/2030 (b)   3,795,982 
USD 7,300   Shanghai Port Group BVI Development 2 Co. Ltd., 2.38%, 04/13/2030 (b)(c)   7,509,016 
USD 3,091   Shanghai Port Group BVI Development Co. Ltd., 2.85%, 09/11/2029 (b)   3,293,245 
USD 11,800   Shimao Group Holdings Ltd., 5.60%, 07/15/2023 (b)(c)   12,573,244 
USD 1,100   Shimao Group Holdings Ltd., 4.60%, 07/13/2025 (b)(c)   1,111,870 

 

See Notes to Portfolio of Investments.

 

Aberdeen Asia-Pacific Income Fund, Inc.

 

 

 

 

Principal
Amount
(000) or
Shares		   Description  Value
(US$)		 
CORPORATE BONDS (continued)     
USD 3,000   Sinochem International Development Pte Ltd., 3.13%, 07/25/2022 (b)  $3,070,133 
USD 5,200   Sinopec Capital 2013 Ltd., 3.13%, 04/24/2023 (b)   5,459,551 
USD 5,900   Sinopec Group Overseas Development 2014 Ltd., 4.38%, 04/10/2024 (b)   6,548,469 
USD 7,500   Sunac China Holdings Ltd., 6.50%, 07/09/2022 (b)(c)   7,475,232 
USD 3,394   Tencent Holdings Ltd., 3.24%, 12/03/2049 (b)(c)   3,784,546 
USD 7,200   Vanke Real Estate Hong Kong Co. Ltd., 3.50%, 11/12/2029 (b)   7,689,029 
USD 6,100   Weibo Corp., 3.50%, 06/05/2024 (c)   6,432,747 
USD 7,000   Wuhan Metro Group Co. Ltd., (fixed rate to 12/05/2021, variable rate thereafter), 5.98%, 12/05/2021 (a)(b)   7,193,403 
USD 4,000   Zhenro Properties Group Ltd., 7.88%, 01/14/2023 (b)(c)   3,953,088 
USD 7,400   Zhenro Properties Group Ltd., 9.15%, 03/08/2021 (b)(c)   7,650,010 
          234,906,362 
GERMANY—1.2%    
SGD 3,200   Deutsche Bank AG, 4.10%, 02/14/2021   2,342,638 
AUD 5,000   Kreditanstalt fuer Wiederaufbau, 6.00%, 08/20/2020 (e)   3,581,201 
AUD 10,000   Landwirtschaftliche Rentenbank, 4.75%, 04/08/2024 (e)   8,225,331 
          14,149,170 
HONG KONG—2.5%    
USD 3,900   Far East Consortium International Ltd., 3.75%, 09/08/2021 (b)   3,822,325 
USD 15,500   Hutchison Whampoa Finance CI Ltd., 7.50%, 08/01/2027 (b)   20,868,890 
USD 980   Hutchison Whampoa International 03/33 Ltd., 7.45%, 11/24/2033 (b)   1,542,812 
USD 2,871   Standard Chartered PLC, 3.95%, 01/11/2023 (b)   2,996,720 
          29,230,747 
INDIA—17.0%    
USD 7,302   Adani Electricity Mumbai Ltd., 3.95%, 02/12/2030 (b)   7,211,859 
USD 6,910   Adani Green Energy UP Ltd. / Prayatna Developers Pvt Ltd. / Parampujya Solar Energy Pvt Ltd., 6.25%, 12/10/2024 (b)   7,279,685 
USD 3,050   Adani Transmission Ltd., 4.00%, 08/03/2026 (b)   3,096,668 
USD 3,990   Adani Transmission Ltd., 4.25%, 05/21/2036 (b)(f)   3,893,291 
INR 200,000   Axis Bank Ltd., 7.60%, 10/20/2023   2,836,374 
INR 500,000   Axis Bank Ltd., 8.85%, 12/05/2024   7,400,655 
USD 7,030   Azure Power Solar Energy Pvt Ltd., 5.65%, 09/24/2022 (b)(c)   7,168,842 
USD 3,300   Bharti Airtel International Netherlands BV, 5.35%, 05/20/2024 (b)   3,555,613 
USD 5,173   GMR Hyderabad International Airport Ltd., 5.38%, 04/10/2024 (b)   5,016,692 
INR 750,000   HDFC Bank Ltd., 7.95%, 09/21/2026   10,881,043 
INR 100,000   Housing Development Finance Corp. Ltd., 7.90%, 08/24/2026   1,436,955 
INR 100,000   Housing Development Finance Corp. Ltd., 8.05%, 06/20/2022   1,407,538 
INR 250,000   Housing Development Finance Corp. Ltd., 8.58%, 03/18/2022   3,528,110 
INR 100,000   Housing Development Finance Corp. Ltd., 8.65%, 09/18/2020   1,345,347 
INR 550,000   Housing Development Finance Corp. Ltd., 9.05%, 11/20/2023   8,061,783 
USD 6,500   ICICI Bank Ltd., 4.00%, 03/18/2026 (b)   6,808,911 
INR 400,000   ICICI Bank Ltd., 7.60%, 10/07/2023   5,677,558 
INR 250,000   ICICI Bank Ltd., 9.15%, 08/06/2024   3,688,221 
USD 5,732   India Infoline Finance Ltd., 5.88%, 04/20/2023 (b)   4,774,570 
USD 2,000   Indiabulls Housing Finance Ltd., 6.38%, 05/28/2022 (b)   1,440,825 
INR 200,000   Indiabulls Housing Finance Ltd., 8.90%, 09/26/2021 (d)   2,354,753 
INR 100,000   Indiabulls Housing Finance Ltd., 9.00%, 04/29/2026 (d)   766,116 
INR 300,000   Indiabulls Housing Finance Ltd., 9.08%, 12/31/2021 (d)   3,460,321 
INR 50,000   Indian Railway Finance Corp. Ltd., 8.45%, 12/04/2028   751,482 
INR 150,000   National Highways Authority of India, 7.70%, 09/13/2029   2,153,321 
USD 6,800   Neerg Energy Ltd., 6.00%, 08/31/2020 (b)(c)   6,808,724 

 

See Notes to Portfolio of Investments.

 

Aberdeen Asia-Pacific Income Fund, Inc.

 

 

 

 

Principal
Amount
(000) or
Shares		  Description  Value
(US$)		 
CORPORATE BONDS (continued) 
INR 50,000   NTPC Ltd., 8.05%, 05/05/2026  $742,505 
INR 250,000   NTPC Ltd., 8.10%, 05/27/2026   3,629,510 
USD 990   ONGC Videsh Ltd., 3.75%, 05/07/2023 (b)   1,022,317 
USD 2,712   Power Finance Corp. Ltd., 3.75%, 06/18/2024 (b)   2,789,292 
USD 4,273   Power Finance Corp. Ltd., 4.50%, 06/18/2029 (b)   4,356,101 
INR 250,000   Power Finance Corp. Ltd., 8.39%, 04/19/2025   3,670,189 
INR 400,000   Power Finance Corp. Ltd., 8.65%, 12/28/2024   5,900,381 
INR 150,000   Power Grid Corp. of India Ltd., 8.13%, 04/25/2027   2,202,294 
INR 500,000   Power Grid Corp. of India Ltd., 8.13%, 04/25/2028   7,366,055 
USD 7,200   REC Ltd., 3.50%, 12/12/2024 (b)   7,293,570 
USD 3,689   REC Ltd., 4.75%, 05/19/2023 (b)   3,860,609 
INR 150,000   REC Ltd., 8.10%, 06/25/2024   2,149,975 
USD 2,550   Reliance Industries Ltd., 4.13%, 01/28/2025 (b)   2,791,231 
INR 800,000   Reliance Industries Ltd., 8.30%, 03/08/2022   11,290,894 
INR 250,000   Reliance Industries Ltd., 8.95%, 10/05/2020   3,371,781 
INR 200,000   Rural Electrification Corp. Ltd., 8.44%, 12/04/2021   2,797,818 
INR 150,000   Rural Electrification Corp. Ltd., 9.34%, 08/25/2024   2,243,851 
INR 70,000   Rural Electrification Corp. Ltd., 9.35%, 06/15/2022   1,004,716 
INR 300,000   State of Maharashtra India, 7.20%, 08/09/2027   4,222,250 
INR 100,000   Tata Motors Ltd., 9.73%, 10/01/2020   1,338,232 
USD 6,500   UPL Corp. Ltd., 3.25%, 10/13/2021 (b)   6,541,000 
USD 2,937   UPL Corp. Ltd., 4.63%, 06/16/2030 (b)   2,994,528 
          196,384,356 
INDONESIA—6.0%    
IDR 20,000,000   Adira Dinamika Multi Finance Tbk PT, 7.80%, 10/04/2022   1,398,493 
IDR 10,000,000   Astra Sedaya Finance PT, 8.80%, 02/13/2022   713,014 
USD 2,198   Bank Mandiri Persero Tbk PT, 4.75%, 05/13/2025 (b)   2,410,579 
USD 3,250   Bank Rakyat Indonesia Persero Tbk PT, 3.95%, 03/28/2024 (b)   3,393,355 
IDR 10,000,000   Bank Rakyat Indonesia Persero Tbk PT, 8.25%, 08/24/2024   715,068 
USD 1,000   Bank Tabungan Negara Persero Tbk PT, 4.20%, 01/23/2025 (b)   990,500 
IDR 10,000,000   Federal International Finance PT, 8.80%, 03/12/2022   700,342 
USD 5,326   FPC Treasury Ltd., 4.50%, 04/16/2023 (b)   5,354,808 
USD 3,766   Hutama Karya Persero PT, 3.75%, 02/11/2030 (b)(c)(e)   4,086,596 
IDR 20,000,000   Lembaga Pembiayaan Ekspor Indonesia, 8.45%, 07/09/2022   1,432,603 
USD 5,888   LLPL Capital Pte Ltd., 6.88%, 02/04/2039 (b)(f)   6,712,277 
USD 4,565   Medco Oak Tree Pte Ltd., 7.38%, 05/14/2023 (b)(c)   4,499,884 
USD 2,150   Medco Platinum Road Pte Ltd., 6.75%, 01/30/2022 (b)(c)   2,079,668 
USD 3,400   Perusahaan Listrik Negara PT, 3.88%, 07/17/2029 (b)   3,697,500 
USD 6,129   Perusahaan Listrik Negara PT, 6.15%, 05/21/2048 (b)   8,274,150 
IDR 12,000,000   Perusahaan Listrik Negara PT, 8.25%, 07/05/2023   859,808 
USD 7,227   Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 4.00%, 12/30/2049 (b)(c)   7,611,170 
USD 6,800   Sri Rejeki Isman Tbk PT, 7.25%, 10/16/2022 (b)(c)   6,157,915 
USD 6,739   TBG Global Pte Ltd., 5.25%, 08/31/2020 (b)(c)   6,723,544 
IDR 20,000,000   Wijaya Karya Persero Tbk PT, 7.70%, 01/31/2021 (b)   1,251,798 
          69,063,072 
KUWAIT—0.6%    
USD 6,759   MEGlobal Canada ULC, 5.00%, 05/18/2025 (b)   7,384,856 
MACAU—0.3%  
USD 3,575   MGM China Holdings Ltd., 5.25%, 06/18/2022 (b)(c)   3,673,313 

 

See Notes to Portfolio of Investments.

 

Aberdeen Asia-Pacific Income Fund, Inc.

 

 

 

 

Principal
Amount
(000) or
Shares		  Description 

Value

(US$) 

 
CORPORATE BONDS (continued) 
MALAYSIA—2.6% 
MYR 1,500   Cagamas Bhd, 4.45%, 11/25/2020  $356,278 
MYR 5,000   CIMB Group Holdings Bhd, 4.95%, 03/29/2023 (c)   1,241,710 
MYR 5,000   DRB-Hicom Bhd, 5.10%, 12/12/2029   1,178,578 
MYR 5,000   Malayan Banking Bhd, (fixed rate to 09/25/2024, variable rate thereafter), 4.08%, 09/25/2024   1,215,047 
USD 6,800   Petronas Capital Ltd., 3.50%, 01/21/2030 (b)(c)   7,718,056 
USD 3,600   Press Metal Labuan Ltd., 4.80%, 10/30/2020 (b)(c)   3,348,911 
USD 3,450   Press Metal Labuan Ltd., 4.80%, 10/30/2020 (b)(c)   3,209,374 
USD 3,736   RHB Bank Bhd, 2.50%, 10/06/2021 (b)   3,791,851 
USD 7,000   TNB Global Ventures Capital Bhd, 3.24%, 10/19/2026 (b)   7,495,810 
    29,555,615 
MONGOLIA—0.6%    
USD 3,400   Mongolian Mining Corp./Energy Resources LLC, 9.25%, 04/15/2021 (b)(c)   2,399,732 
USD 6,000   Mongolian Mining Corp./Energy Resources LLC, 9.25%, 04/15/2021 (b)(c)   4,234,821 
    6,634,553 
NETHERLANDS—0.4%     
USD 5,050   Samvardhana Motherson Automotive Systems Group BV, 4.88%, 08/10/2020 (b)(c)   4,979,017 
NORWAY—0.5%     
AUD 7,000   Kommunalbanken AS, 4.50%, 04/17/2023 (b)   5,526,731 
          5,526,731 
PHILIPPINES—4.0%    
USD 7,000   ICTSI Treasury BV, 5.88%, 09/17/2025 (b)   7,630,259 
USD 5,025   Jollibee Worldwide Pte Ltd., (fixed rate to 01/23/2025, variable rate thereafter), 3.90%, 01/23/2025 (a)(b)   4,704,656 
USD 13,910   Manila Water Co., Inc., 4.38%, 07/30/2025 (b)(c)   13,594,086 
USD 13,086   Megaworld Corp., 4.25%, 04/17/2023 (b)   13,353,000 
USD 7,000   Royal Capital BV, (fixed rate to 05/05/2024, variable rate thereafter), 4.88%, 05/05/2024 (a)(b)   6,947,500 
          46,229,501 
QATAR—0.8%    
USD 7,300   QNB Finance Ltd., 2.75%, 02/12/2027 (b)   7,663,933 
CNH 10,000   QNB Finance Ltd., 5.10%, 03/08/2021   1,448,755 
          9,112,688 
SAUDI ARABIA—1.2%    
USD 7,000   Dar Al-Arkan Sukuk Co. Ltd., 6.88%, 03/21/2023 (b)   6,664,840 
USD 7,000   Saudi Arabian Oil Co., 3.50%, 04/16/2029 (b)   7,800,153 
          14,464,993 
SINGAPORE—4.6%    
USD 4,300   DBS Group Holdings Ltd., (fixed rate to 02/27/2025, variable rate thereafter), 3.30%, 02/27/2025 (a)(b)   4,267,750 
USD 2,400   DBS Group Holdings Ltd., (fixed rate to 12/11/2023, variable rate thereafter), 4.52%, 12/11/2023 (b)(c)   2,609,932 
USD 7,289   Marble II Pte Ltd., 5.30%, 06/20/2021 (b)(c)   7,325,580 
USD 3,800   Parkway Pantai Ltd., (fixed rate to 07/27/2022, variable rate thereafter), 4.25%, 07/27/2022 (a)(b)   3,800,000 
USD 9,000   United Overseas Bank Ltd., (fixed rate to 09/16/2021, variable rate thereafter), 3.50%, 09/16/2021 (b)(c)   9,181,620 

 

See Notes to Portfolio of Investments.

 

Aberdeen Asia-Pacific Income Fund, Inc.

 

 

 

 

Principal
Amount
(000) or
Shares		  Description  Value
(US$)		 
CORPORATE BONDS (continued)     
USD 26,825   Vena Energy Capital Pte Ltd., 3.13%, 02/26/2025 (b)   $25,784,458 
          52,969,340 
SOUTH KOREA —2.1%   
USD 11,400   Busan Bank Co. Ltd., 3.63%, 07/25/2026 (b)   12,080,269 
USD 3,300   Hanwha Total Petrochemical Co. Ltd., 3.88%, 01/23/2024 (b)   3,532,095 
USD 1,350   Korea Western Power Co. Ltd., 3.75%, 06/07/2023 (b)   1,458,981 
USD 5,900   Shinhan Bank Co. Ltd., 4.50%, 03/26/2028 (b)   6,733,096 
          23,804,441 
THAILAND—2.9%    
USD 1,200   Bangkok Bank PCL, 9.03%, 03/15/2029 (b)   1,669,015 
USD 6,900   Bangkok Bank PCL, (fixed rate to 09/25/2029, variable rate thereafter), 3.73%, 09/25/2029 (b)(c)   6,912,318 
USD 6,500   GC Treasury Center Co. Ltd., 4.25%, 09/19/2022 (b)   6,828,706 
USD 5,800   Minor International PCL, (fixed rate to 06/29/2023, variable rate thereafter), 3.10%, 06/29/2023 (a)(b)   5,836,250 
USD 2,325   PTT Treasury Center Co. Ltd., 3.70%, 01/16/2070 (b)(c)   2,581,998 
USD 1,270   PTTEP Treasury Center Co. Ltd., 2.59%, 04/10/2027 (b)(c)   1,318,150 
USD 5,300   PTTEP Treasury Center Co. Ltd., 3.90%, 12/06/2059 (b)   6,105,139 
USD 2,300   TMB Bank PCL, (fixed rate to 12/02/2024, variable rate thereafter), 4.90%, 12/02/2024 (a)(b)   2,150,500 
          33,402,076 
UNITED ARAB EMIRATES—2.8%   
MYR 10,000   Abu Dhabi National Energy Co. PJSC, 4.65%, 03/03/2022   2,413,113 
USD 4,762   Emirates Airline, 4.50%, 02/06/2025 (b)(f)   4,524,043 
SGD 6,500   Emirates NBD Bank PJSC, 3.05%, 03/06/2023 (b)   4,749,636 
USD 7,100   Esic Sukuk Ltd., 3.94%, 07/30/2024 (b)   6,981,146 
USD 3,300   MAF Global Securities Ltd., (fixed rate to 03/20/2026, variable rate thereafter), 6.38%, 03/20/2026 (a)(b)   3,167,579 
USD 3,700   MAF Global Securities Ltd., (fixed rate to 09/07/2022, variable rate thereafter), 5.50%, 09/07/2022 (a)(b)   3,537,866 
USD 7,730   Medjool Ltd., 3.88%, 03/19/2023 (b)(f)   7,320,125 
          32,693,508 
UNITED KINGDOM—1.5%    
USD 1,983   CK Hutchison International 20 Ltd., 3.38%, 11/08/2049 (b)(c)   2,256,814 
USD 6,999   Standard Chartered PLC, 3.95%, 01/11/2023 (b)   7,306,161 
USD 5,000   Standard Chartered PLC, 4.05%, 04/12/2026 (b)   5,512,840 
USD 2,759   Standard Chartered PLC, (fixed rate to 04/02/2023, variable rate thereafter), 7.75%, 04/02/2023 (a)(b)   2,910,745 
          17,986,560 
VIETNAM—0.4%    
USD 4,310   Mong Duong Finance Holdings BV, 5.13%, 05/07/2023 (b)   4,323,101 
          4,323,101 
      Total Corporate Bonds — 74.7% (cost $865,080,084)   863,769,530 
GOVERNMENT BONDS—51.6%    
AUSTRALIA—24.7%     
AUD 2,300   Australia Government Bond, 2.25%, 05/21/2028 (b)   1,839,754 
AUD 70,129   Australia Government Bond, 2.75%, 11/21/2028 (b)   58,274,860 
AUD 29,431   Australia Government Bond, 3.25%, 04/21/2029 (b)   25,449,456 

 

See Notes to Portfolio of Investments.

 

Aberdeen Asia-Pacific Income Fund, Inc.

 

 

 

 

Principal
Amount
(000) or
Shares		     Description   Value
(US$)		  
GOVERNMENT BONDS (continued)      
AUD 51,000     Australia Government Bond, 3.75%, 04/21/2037 (b)   $ 49,897,872  
AUD 17,700     Australia Government Bond, 4.50%, 04/21/2033 (b)     17,995,810  
AUD 13,500     New South Wales Treasury Corp., 3.00%, 02/20/2030 (b)     11,128,073  
AUD 7,500     New South Wales Treasury Corp., 4.00%, 05/20/2026 (b)     6,342,533  
AUD 15,000     New South Wales Treasury Corp., 6.00%, 03/01/2022     11,672,534  
AUD 22,000     Queensland Treasury Corp., 4.25%, 07/21/2023 (b)     17,500,120  
AUD 51,400     Queensland Treasury Corp., 5.50%, 06/21/2021 (b)     38,409,645  
AUD 4,690     Queensland Treasury Corp., 6.00%, 06/14/2021 (b)(e)     3,519,348  
AUD 20,000     Treasury Corp. of Victoria, 6.00%, 10/17/2022     16,072,840  
AUD 22,000     Western Australian Treasury Corp., 2.75%, 10/20/2022 (b)     16,556,602  
AUD 15,000     Western Australian Treasury Corp., 7.00%, 07/15/2021     11,404,337  
              286,063,784  
CHINA—1.3%            
CNY 40,000     China Government Bond, 1.99%, 04/09/2025 (g)     5,561,315  
CNY 30,000     China Government Bond, 2.20%, 02/13/2022 (g)     4,283,989  
CNY 40,000     China Government Bond, 2.68%, 05/21/2030 (g)     5,596,905  
              15,442,209  
INDIA—1.1%            
INR 880,000     India Government Bond, 7.72%, 05/25/2025     13,024,882  
INR 9,590     India Government Bond, 9.20%, 09/30/2030     156,873  
              13,181,755  
INDONESIA—14.8%          
USD 5,314     Indonesia Government International Bond, 5.35%, 02/11/2049     7,255,231  
USD 9,880     Indonesia Government International Bond, 8.50%, 10/12/2035 (b)     16,113,680  
IDR 90,600,000     Indonesia Treasury Bond, 5.63%, 05/15/2023     6,256,985  
IDR 271,570,000     Indonesia Treasury Bond, 6.13%, 05/15/2028     17,856,658  
IDR 30,765,000     Indonesia Treasury Bond, 6.50%, 06/15/2025     2,156,289  
IDR 15,000,000     Indonesia Treasury Bond, 6.63%, 05/15/2033     971,815  
IDR 13,800,000     Indonesia Treasury Bond, 7.00%, 05/15/2027     964,866  
IDR 45,118,000     Indonesia Treasury Bond, 7.00%, 09/15/2030     3,130,448  
IDR 61,747,000     Indonesia Treasury Bond, 7.50%, 04/15/2040     4,271,539  
IDR 802,200,000     Indonesia Treasury Bond, 8.13%, 05/15/2024     59,170,492  
IDR 288,224,000     Indonesia Treasury Bond, 8.38%, 09/15/2026     21,701,688  
IDR 300,000,000     Indonesia Treasury Bond, 8.75%, 05/15/2031     22,915,069  
IDR 30,000,000     Indonesia Treasury Bond, 9.00%, 03/15/2029     2,319,041  
IDR 16,000,000     Indonesia Treasury Bond, 9.50%, 07/15/2031     1,283,726  
USD 3,770     Perusahaan Penerbit SBSN Indonesia III, 4.15%, 03/29/2027 (b)     4,212,975  
              170,580,502  
MALAYSIA—2.5%            
MYR 25,000     Malaysia Government Bond, 3.48%, 03/15/2023     6,125,944  
MYR 5,300     Malaysia Government Bond, 3.76%, 05/22/2040     1,353,413  
MYR 55,000     Malaysia Government Bond, 3.96%, 09/15/2025     14,113,337  
MYR 13,600     Malaysia Government Bond, 4.07%, 06/15/2050     3,503,828  
MYR 14,100     Malaysia Government Bond, 4.39%, 04/15/2026     3,716,574  
              28,813,096  
PAKISTAN—2.4%            
USD 12,890     Pakistan Government International Bond, 6.88%, 12/05/2027 (b)     12,652,824  
USD 8,185     Pakistan Government International Bond, 8.25%, 04/15/2024 (b)     8,584,166  
USD 5,719     Pakistan Government International Bond, 8.25%, 09/30/2025 (b)     6,019,248  
              27,256,238  

 

See Notes to Portfolio of Investments.

 

Aberdeen Asia-Pacific Income Fund, Inc.

 

 

 

 

Principal
Amount
(000) or
Shares		   Description  Value
(US$)		 
GOVERNMENT BONDS (continued)    
SOUTH KOREA —1.7%        
KRW 22,700,000   Korea Treasury Bond, 2.25%, 06/10/2025  $20,088,186 
SRI LANKA—0.5%         
USD 7,500   Republic of Sri Lanka, 7.55%, 03/28/2030 (b)   5,512,506 
SUPRANATIONAL—2.6%         
AUD 14,000   Asian Development Bank, 5.00%, 03/09/2022   10,735,969 
AUD 15,000   Inter-American Development Bank, 6.00%, 02/26/2021   11,057,316 
AUD 10,000   International Bank for Reconstruction & Development, 4.25%, 06/24/2025   8,381,349 
          30,174,634 
       Total Government Bonds — 51.6% (cost $605,913,249)  597,112,910  
            
SHORT-TERM INVESTMENT—6.8%     
UNITED STATES—6.8%      
USD 79,196,926   State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.09%(h)   79,196,926 
          79,196,926 
      Total Short-Term Investment — 6.8% (cost $79,196,926)   79,196,926 
      Total Investments — 133.1% (cost $1,550,190,259)   1,540,079,366 
      Long Term Debt Securities   (350,000,000)
      Mandatory Redeemable Preferred Stock at Liquidation Value   (50,000,000)
      Other Assets in Excess of Liabilities — 1.4%   16,570,756 
      Net Assets—100.0%  $1,156,650,122 

 

AUD—Australian Dollar
CNH—Chinese Yuan Renminbi Offshore
CNY—Chinese Yuan Renminbi
IDR—Indonesian Rupiah
INR—Indian Rupee
KRW—South Korean Won
MYR—Malaysian Ringgit
PHP—Philippine Peso
SGD—Singapore Dollar
THB—Thai Baht
USD—U.S. Dollar

 

(a) Perpetual bond. This is a bond that has no maturity date, is redeemable and pays a steady stream of interest indefinitely. The maturity date presented for these instruments represents the next call/put date.
(b) Denotes a restricted security.
(c) The maturity date presented for these instruments represents the next call/put date.
(d) Illiquid security.
(e) This security is government guaranteed.
(f) Sinkable security.
(g) China A securities. These securities are issued in local currency, traded in the local markets and are held through a qualified foreign institutional investor license.
(h) Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2020.  

 

See Notes to Portfolio of Investments.

 

Aberdeen Asia-Pacific Income Fund, Inc.

 

 

 

 

At July 31, 2020, the Fund held the following futures contracts:

 

Futures Contracts

  Number of
Contracts
Long/(Short)		   Expiration
Date		 

Notional
Amount

  

Market
Value

   Unrealized
Appreciation/
(Depreciation)		 
Long Contract Positions                   
United States Treasury Note 6%—Ultra Bond   172   09/21/2020  $37,768,033   $39,162,250   $1,394,217 
United States Treasury Note 6%—2 year   157   09/30/2020   34,672,476    34,694,547    22,071 
United States Treasury Note 6%—5 year   95   09/30/2020   11,943,286    11,981,875    38,589 
                     $1,454,877 
Short Contract Positions                   
United States Treasury Note 6%—10 year   (1,279)  09/21/2020  $(177,560,525)  $(179,159,922)  $(1,599,397)
                     $(1,599,397)
                     $(144,520)

 

At July 31, 2020, the Fund's open forward foreign currency exchange contracts were as follows:

 

Purchase Contracts
Settlement Date*		  Counterparty 

Amount
Purchased

  

Amount
Sold

     Fair Value    

Unrealized
Appreciation/
(Depreciation)

 
Chinese Yuan Renminbi Offshore/United States Dollar               
09/02/2020  State Street Bank and Trust  CNH 9,133,610  USD 1,300,000    $1,304,301   $4,301 
09/02/2020  UBS AG  CNH 120,000,000  USD 16,925,755     17,136,288    210,533 
Indian Rupee/United States Dollar               
09/10/2020  Citibank N.A.  INR 755,190,150  USD 10,055,647     10,040,161    (15,486)
09/10/2020  UBS AG  INR 37,633,350  USD 500,000     500,331    331 
Indonesian Rupiah/United States Dollar               
10/23/2020  Citibank N.A.  IDR 179,028,000,000  USD 12,065,263     12,007,968    (57,295)
10/23/2020  HSBC Bank USA  IDR 223,785,000,000  USD 15,000,000     15,009,960    9,960 
Malaysian Ringgit/United States Dollar               
08/14/2020  Standard Chartered Bank  MYR 13,309,850  USD 3,106,077     3,137,848    31,771 
Philippine Peso/United States Dollar               
10/09/2020  Citibank N.A.  PHP 143,309,300  USD 2,900,000     2,913,947    13,947 
10/09/2020  HSBC Bank USA  PHP 298,440,000  USD 6,000,000     6,068,263    68,263 
Singapore Dollar/United States Dollar               
08/28/2020  Standard Chartered Bank  SGD 9,724,165  USD 7,000,000     7,077,933    77,933 
08/28/2020  UBS AG  SGD 5,848,945  USD 4,200,000     4,257,274    57,274 
South Korean Won/United States Dollar               
08/19/2020  Citibank N.A.  KRW 2,176,200,000  USD 1,800,000     1,822,593    22,593 
08/19/2020  Royal Bank of Canada  KRW 10,597,164,160  USD 8,800,000     8,875,248    75,248 
08/19/2020  UBS AG  KRW 22,303,659,280  USD 18,200,000     18,679,573    479,573 
Thai Baht/United States Dollar               
09/14/2020  BNP Paribas S.A.  THB 348,574,748  USD 11,100,000     11,177,705    77,705 

 

See Notes to Portfolio of Investments.

 

Aberdeen Asia-Pacific Income Fund, Inc.

 

 

 

 

Purchase Contracts
Settlement Date*		  Counterparty  Amount
Purchased		  Amount
Sold		   Fair Value   Unrealized
Appreciation/
(Depreciation)		 
09/14/2020  UBS AG  THB 373,000,000  USD 11,969,630   $11,960,947   $(8,683)
                 $131,970,341   $1,047,968 

 

Sale Contracts
Settlement Date*		  Counterparty  Amount
Purchased		  Amount
Sold		   Fair Value   Unrealized
Appreciation/
(Depreciation)		 
United States Dollar/Australian Dollar                 
 10/20/2020  UBS AG  USD 101,520,590  AUD 145,000,000   $103,619,712   $(2,099,122)
United States Dollar/Chinese Yuan Renminbi Offshore                 
 09/02/2020  UBS AG  USD 3,667,247  CNH 26,000,000    3,712,863    (45,616)
United States Dollar/Indian Rupee                 
 09/10/2020  Citibank N.A.  USD 10,500,000  INR 792,823,500    10,540,492    (40,492)
United States Dollar/Indonesian Rupiah                 
 10/23/2020  HSBC Bank USA  USD 12,000,000  IDR 179,028,000,000    12,007,968    (7,968)
United States Dollar/Malaysian Ringgit                 
 08/14/2020  BNP Paribas S.A.  USD 20,500,000  MYR 88,050,320    20,758,201    (258,201)
 08/14/2020  HSBC Bank USA  USD 3,100,000  MYR 13,309,850    3,137,848    (37,848)
United States Dollar/Philippine Peso                 
 10/09/2020  HSBC Bank USA  USD 2,000,000  PHP 99,480,000    2,022,754    (22,754)
United States Dollar/Singapore Dollar                 
 08/28/2020  Standard Chartered Bank  USD 6,600,000  SGD 9,174,422    6,677,791    (77,791)
United States Dollar/South Korean Won                 
 08/19/2020  Citibank N.A.  USD 20,100,000  KRW 24,196,380,000    20,264,749    (164,749)
United States Dollar/Thai Baht                 
 09/14/2020  UBS AG  USD 2,700,000  THB 84,006,990    2,693,842    6,158 
                 $185,436,220   $(2,748,383)
                 $317,406,561   $(1,700,415)

 

* Certain contracts with different trade dates and like characteristics have been shown net.

 

At July 31, 2020, the Fund held the following over-the-counter interest rate swaps:

 

Currency Notional
Amount		  Expiration
Date		  Receive (Pay) Floating Rate  Floating
Rate Index		 Fixed
Rate		  

Frequency
of
Payments
Made

Premiums Paid (Received)

  Value   Unrealized
Depreciation		 
USD  5,000,000  05/11/2030  Receive  3-month LIBOR  0.67%  Quarterly $—  $(70,794)  $(73,274)
                     $—  $(70,794)  $(73,274)

 

At July 31, 2020, the Fund held the following centrally cleared interest rate swaps:

 

Currency Notional
Amount		  Expiration
Date		  Counterparty  Receive
(Pay)
Floating
Rate		  Floating Rate
Index		 Fixed
Rate		   Premiums
Paid
(Received)		  Unrealized
Depreciation		 
USD  20,000,000  06/10/2027  Citigroup  Receive  3-month LIBOR  0.70%  $—  $(464,049)
USD  15,000,000  05/06/2030  Citigroup  Receive  3-month LIBOR  0.62%   —   (140,892)
USD  25,000,000  06/02/2031  UBS  Receive  3-month LIBOR  0.72%   —   (410,233)
                      $—  $(1,015,174)

 

See Notes to Portfolio of Investments.

 

Aberdeen Asia-Pacific Income Fund, Inc.

 

 

 

 

Notes to Portfolio of Investments (unaudited)

 

July 31, 2020 

 

Summary of Significant Accounting Policies

 

a. Security Valuation:

 

The Fund values its securities at current market value or fair value, consistent with regulatory requirements. "Fair value" is defined in the Fund's Valuation and Liquidity Procedures as the price that could be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants without a compulsion to transact at the measurement date.

 

Long-term debt and other fixed-income securities are valued at the last quoted or evaluated bid price on the valuation date provided by an independent pricing service provider approved by the Board. If there are no current day bids, the security is valued at the previously applied bid. Pricing services generally price debt securities assuming orderly transactions of an institutional "round lot" size and the strategies employed by the Fund’s investment adviser generally trade in round lot sizes. In certain circumstances, some trades may occur in smaller "odd lot" sizes which may be effected at lower or higher prices than institutional round lot trades. Short-term debt securities (such as commercial paper and U.S. treasury bills) having a remaining maturity of 60 days or less are valued at amortized cost, if it represents the best approximation of fair value. Debt and other fixed-income securities are generally determined to be Level 2 investments.

 

Short-term investments are comprised of cash and cash equivalents invested in short-term investment funds which are redeemable daily. The Fund sweeps available cash into the State Street Institutional U.S. Government Money Market Fund; a "government money market fund" pursuant to Rule 2a-7 under the Investment Company Act of 1940, as amended, which has an objective, which is not guaranteed, to maintain a $1.00 per share net asset value. Registered investment companies are valued at their net asset value as reported by such company. Generally, these investment types are categorized as Level 1 investments.

 

Derivatives are valued at fair value. Exchange traded derivatives are generally Level 1 investments and over-the-counter derivatives are generally Level 2 investments. Forward foreign currency contracts are generally valued based on the bid price of the forward rates and the current spot rate. Forward exchange rate quotations are available for scheduled settlement dates, such as 1-, 3-, 6-, 9- and 12-month periods. An interpolated valuation is derived based on the actual settlement dates of the forward contracts held. Futures contracts are valued at the settlement price or at the last bid price if no settlement price is available. Interest rate swaps agreements are generally valued by an approved pricing agent based on the terms of the swap agreement (including future cash flows).

 

In the event that a security’s market quotations are not readily available or are deemed unreliable (for reasons other than because the foreign exchange on which they trade closed before the Valuation Time), the security is valued at fair value as determined by the Fund's Pricing Committee, taking into account the relevant factors and surrounding circumstances using valuation policies and procedures approved by the Board. Under normal circumstances the Valuation Time is as of close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time). A security that has been fair valued by the Fund's Pricing Committee may be classified as Level 2 or Level 3 depending on the nature of the inputs.

 

Aberdeen Asia-Pacific Income Fund, Inc.