<SEC-DOCUMENT>0001104659-22-078675.txt : 20220711
<SEC-HEADER>0001104659-22-078675.hdr.sgml : 20220711
<ACCEPTANCE-DATETIME>20220711120312
ACCESSION NUMBER:		0001104659-22-078675
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		20
CONFORMED PERIOD OF REPORT:	20220430
FILED AS OF DATE:		20220711
DATE AS OF CHANGE:		20220711
EFFECTIVENESS DATE:		20220711

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ABRDN ASIA-PACIFIC INCOME FUND, INC.
		CENTRAL INDEX KEY:			0000790500
		IRS NUMBER:				133334183
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04611
		FILM NUMBER:		221076338

	BUSINESS ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		215-405-5700

	MAIL ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ABERDEEN ASIA-PACIFIC INCOME FUND INC
		DATE OF NAME CHANGE:	20041102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ABERDEEN ASIA PACIFIC INCOME FUND INC
		DATE OF NAME CHANGE:	20010531

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ABERDEN ASIA-PACIFIC INCOME FUND INC
		DATE OF NAME CHANGE:	20010531
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>tm2211703d13_ncsrs.htm
<DESCRIPTION>N-CSRS
<TEXT>
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<P STYLE="margin: 0pt; font-size: 10pt"><P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;N-CSR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment Company Act file number:</FONT></TD>
    <TD STYLE="width: 50%">811-04611</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exact name of registrant as specified in charter:</FONT></TD>
    <TD>abrdn Asia-Pacific Income Fund,&nbsp;Inc.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address of principal executive offices:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1900 Market Street, Suite&nbsp;200</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Philadelphia, PA 19103</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name and address of agent for service:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrea Melia</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">abrdn Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1900 Market Street, Suite&nbsp;200</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Philadelphia, PA 19103</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registrant&rsquo;s telephone number, including area code:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1-800-522-5465</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date of fiscal year end:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October&nbsp;31</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date of reporting period:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April&nbsp;30, 2022</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1. Reports to Stockholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)&nbsp;A copy of the report transmitted to shareholders
pursuant to Rule&nbsp;30e-1 under the Investment Company Act of 1940 (the &ldquo;1940 Act&rdquo;) is filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"></FONT><IMG SRC="tm2211703d13_ncsrsimg001.jpg" ALT="" STYLE="height: 1008px; width: 850px"></P>

<P STYLE="margin: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin: 0pt">&nbsp;</P>



<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Managed
Distribution Policy </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited)</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<DIV STYLE="float: left; width: 48%"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-size: 9pt">The Board of Directors
of the Aberdeen Asia-Pacific Income Fund, Inc. (the &quot;Fund&quot;) has authorized a managed distribution policy (&quot;MDP&quot;)
of paying monthly distributions at an annual rate set once a year. The Fund's current monthly distribution is set at a rate of $0.0275
per share. With each distribution, the Fund will issue a notice to shareholders and an accompanying press release which will provide
detailed information regarding the amount and estimated composition of the distribution and other information required by the</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<DIV STYLE="float: right; width: 48%"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-size: 9pt">Fund's MDP exemptive
order. The Fund's Board of Directors may amend or terminate the MDP at any time without prior notice to shareholders; however, at this
time, there are no reasonably foreseeable circumstances that might cause the termination of the MDP. You should not draw any conclusions
about the Fund's investment performance from the amount of distributions or from the terms of the Fund's MDP.</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: normal 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: normal 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Distribution
Disclosure Classification</FONT> <FONT STYLE="font-size: 11pt">(unaudited)</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 9pt">The
                                     Fund's policy is to provide investors with a stable monthly distribution out of current income,
                                     supplemented by realized capital gains and, to the extent necessary, paid-in capital.</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 9pt">The Fund is subject
to U.S. corporate, tax and securities laws. Under U.S. tax rules, the amount applicable to the Fund and character of distributable income
for each fiscal period depends on the actual exchange rates during the entire year between the U.S. Dollar and the currencies in which
Fund assets are denominated and on the aggregate gains and losses realized by the Fund during the entire year.</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 9pt">Therefore, the exact
amount of distributable income for each fiscal year can only be determined as of the end of the Fund's fiscal year, October 31. Under
Section 19 of the Investment Company Act of 1940, as amended (the &quot;1940 Act&quot;), the Fund is required to indicate the sources
of certain distributions to shareholders. The estimated</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>



<DIV STYLE="float: right; width: 48%"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 9pt">distribution
                                      composition may vary from month to month because it may be materially impacted by future income,
                                      expenses and realized gains and losses on securities and fluctuations in the value of the currencies
                                      in which the Fund's assets are denominated.</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 9pt">Based on generally
accepted accounting principles, the Fund estimates the distributions for the fiscal year commenced November 1, 2021, through the distributions
declared on June 9, 2022, consisted of 56% net investment income and 44% tax return of capital. The amounts and sources of distributions
reported in this report are only estimates and are not being provided for tax reporting purposes.</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 9pt">In January 2023,
a Form 1099-DIV will be sent to shareholders, which will state the final amount and composition of distributions and provide information
with respect to their appropriate tax treatment for the 2022 calendar year.</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific
Income Fund, Inc.</FONT></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Letter
to Shareholders </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited)</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Dear Shareholder,</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We present this Semi-Annual Report, which covers the activities of Aberdeen
Asia-Pacific Income Fund, Inc. (the &quot;Fund&quot;) for the six-month period ended April 30, 2022. The Fund's principal investment objective
is to seek current income. The Fund may also achieve incidental capital appreciation.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Total Investment Return<SUP>1</SUP></B></P>

<P STYLE="font: 3pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">For the six-month period ended April 30, 2022, the total return to shareholders
of the Fund based on the net asset value (&quot;NAV&quot;) and market price of the Fund, respectively, are as follows:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-top: Black 1.5pt solid; padding-top: 1pt; background-color: rgb(241,241,242); font-size: 9pt; padding-left: 10pt; vertical-align: bottom; width: 64px; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">NAV<SUP>2,3</SUP></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; padding-right: 2pt; padding-top: 1pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; width: 35px; text-align: right; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-12.5</FONT><FONT STYLE="font-size: 9pt">%</FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; background-color: rgb(241,241,242); font-size: 9pt; padding-left: 10pt; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Market
    Price<SUP>2</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 2pt; padding-top: 1pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-20.6</FONT><FONT STYLE="font-size: 9pt">%</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">For more information about Fund performance, please visit the Fund on
the web at www.aberdeenfax.com. Here, you can view quarterly commentary on the Fund's performance, monthly fact sheets, distribution and
performance information, and other Fund literature.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>NAV, Market Price and Premium/Discount</B></P>

<P STYLE="font: 3pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The below table represents comparison from current six-month period end
to prior fiscal year end of market price to NAV and associated premium(+)/discount(-).</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-left: 10pt; background-color: rgb(220,221,222); text-align: right; font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>NAV</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Closing
    <BR>
    Market <BR>
    Price</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 8pt; background-color: rgb(220,221,222); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Premium(+)/<BR>
    Discount(-)</B></FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="padding-top: 1pt; padding-bottom: 2pt; padding-left: 5pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; width: 50%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4/30/2022</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; width: 12%; text-align: right"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3.66</FONT></FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; width: 15%; text-align: right"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3.20</FONT></FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 2pt; padding-right: 8pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; width: 23%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-12.6</FONT><FONT STYLE="font-size: 9pt">%</FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="padding-top: 1pt; padding-bottom: 2pt; padding-left: 5pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10/31/2021</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4.38</FONT></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4.22</FONT></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-right: 8pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-3.7</FONT><FONT STYLE="font-size: 9pt">%</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">During the six-month period ended April 30, 2022, the Fund's NAV was
within a range of $3.65 to $4.39 and the Fund's market price traded within a range of $3.20 to $4.21. During the six-month period ended
April 30, 2022, the Fund's shares traded within a range of a premium(+)/discount(-) of -3.2% to -15.1%.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Portfolio Allocation</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">As of April 30, 2022, the Fund held 74.8% of its total investments in
Asian debt securities, 11.0% in Australian debt securities, 5.2% in Latin</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>



<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">America debt securities, 4.5% in European debt securities, 2.5% in U.S.
debt securities and 2.0% in African debt securities.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Of the Fund's total investments, excluding hedges, 50.7% were held in
U.S. Dollar denominated bonds issued by foreign issuers as of April 30, 2022. The rest of the Fund's currency exposure as of April 30,
2022 was 9.6% in the Australian Dollar, 34.2% in various Asian currencies, 5.2% in various Latin American currencies and 0.3% in various
European currencies.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Of the Fund's total investments, including hedges, 37.8% were held in
U.S. Dollar denominated bonds issued by foreign issuers as of April 30, 2022. The rest of the Fund's currency exposure as of April 30,
2022 was 9.0% in the Australian Dollar, 47.7% in various Asian currencies, 5.2% in various Latin American currencies and 0.3% in various
European currencies.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Credit Quality</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">As of April 30, 2022, 14.8% of the Fund's total investments were invested
in securities where either the issue or the issuer was rated A or better by S&amp;P Global Ratings (&quot;S&amp;P&quot;)*, Moody's Investors
Services, Inc. (&quot;Moody's&quot;)** or Fitch Ratings, Inc. (&quot;Fitch&quot;)***</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Managed Distribution Policy</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">Distributions to common shareholders for the six-month period ended April
30, 2022 totaled $0.165 per share. Based on the market price of $3.20 on April 30, 2022, the annualized distribution rate over the six-month
period ended April 30, 2022 was 10.3%. Based on the NAV of $3.66 on April 30, 2022, the annualized distribution rate was 9.0%. Since all
distributions are paid after deducting applicable withholding taxes, the effective distribution rate may be higher for those U.S. investors
who are able to claim a tax credit.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">On May 10, 2022 and June 9, 2022, the Fund announced that it will pay
on May 31, 2022 and June 30, 2022, respectively, a distribution of U.S. $0.0275 per share to all shareholders of record as of May 20,
2022 and June 22, 2022, respectively.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund's policy is to provide investors with
a stable monthly distribution out of current income, supplemented by realized capital</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 2pt; width: 0.25in; text-align: left">1</TD><TD STYLE="padding-bottom: 2pt; text-align: justify">Past performance is no guarantee of future results. Investment
returns and principal value will fluctuate and shares, when sold, may be worth more or less than original cost. Current performance may
be lower or higher than the performance quoted. Net asset value return data include investment management fees, custodial charges and
administrative fees (such as Director and legal fees) and assumes the reinvestment of all distributions.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 2pt; width: 0.25in; text-align: left">2</TD><TD STYLE="padding-bottom: 2pt; text-align: justify">Assuming the reinvestment of dividends and distributions.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 2pt; width: 0.25in; text-align: left">3</TD><TD STYLE="padding-bottom: 2pt; text-align: justify">The Fund's total return is based on the reported NAV for each
financial reporting period end and may differ from what is reported on the Financial Highlights due to financial statement rounding or
adjustments.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 2pt; width: 0.25in; text-align: left">*</TD><TD STYLE="padding-bottom: 2pt; text-align: justify">S&amp;P's ratings are expressed as letter grades that range
from 'AAA' to 'D' to communicate the agency's opinion of relative level of credit risk. Ratings from 'AA' to 'CCC' may be modified by
the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. The investment grade category
is a rating from 'AAA' to 'BBB-'.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 2pt; width: 0.25in; text-align: left">**</TD><TD STYLE="padding-bottom: 2pt; text-align: justify">Moody's is an independent, unaffiliated research company that
rates fixed income securities. Moody's assigns ratings on the basis of risk and the borrower's ability to make interest payments. Typically,
securities are assigned a rating from 'Aaa' to 'C', with 'Aaa' being the highest quality and 'C' the lowest quality.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 2pt; width: 0.25in; text-align: left">***</TD><TD STYLE="padding-bottom: 2pt; text-align: justify">Fitch is an international credit rating agency. Fitch ratings
range from AAA (reliable and stable) to D (high risk).</TD>
</TR></TABLE>


<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font: 7pt Arial, Helvetica, Sans-Serif">Aberdeen Asia-Pacific Income Fund, Inc.</TD>
    <TD STYLE="text-align: right; font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><B>1</B></TD></TR>
  </TABLE>


<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Letter to Shareholders </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">gains and, to the extent necessary, paid-in capital, which is a non-taxable
return of capital. This policy is subject to an annual review as well as regular review at the Board's quarterly meetings, unless market
conditions require an earlier evaluation.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund is covered under exemptive relief received by the Fund's investment
manager from the U.S. Securities and Exchange Commission (&quot;SEC&quot;) that allows the Fund to distribute long-term capital gains
as frequently as monthly in any one taxable year.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Fund's Leverage</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The table below summarizes certain key terms of the Fund's current leverage:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="padding-bottom: 3pt; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Amount<BR>
    ($ in millions)</B></FONT></TD>
    <TD STYLE="padding-bottom: 3pt; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); padding-right: 8pt; font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Maturity</B></FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); padding-left: 0.125in; font-size: 9pt; vertical-align: bottom; width: 40%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Revolving
    Credit Facility</FONT></TD>
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; width: 30%; text-align: right"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">70</FONT></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); padding-right: 8pt; text-align: right; font-size: 9pt; vertical-align: bottom; width: 30%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">August 3,
    2022</FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); text-indent: -0.125in; padding-left: 0.25in; font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10-Year
    Series B <BR>
Senior Secured Notes</FONT></TD>
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">100</FONT></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); padding-right: 8pt; text-align: right; font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">June 12, 2023</FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); text-indent: -0.125in; padding-left: 0.25in; font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10-Year
    Series A <BR>
Mandatory Redeemable<BR>
 Preferred shares</FONT></TD>
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">50</FONT></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); padding-right: 8pt; text-align: right; font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">June 27, 2023</FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); text-indent: -0.125in; padding-left: 0.25in; font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">15-Year
    Series C <BR>
    Senior Secured Notes</FONT></TD>
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">50</FONT></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2pt; background-color: rgb(241,241,242); padding-right: 8pt; text-align: right; font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">February 8, 2032</FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); text-indent: -0.125in; padding-left: 0.25in; font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">15-Year
    Series D <BR>
    Senior Secured Notes</FONT></TD>
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">100</FONT></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; background-color: rgb(241,241,242); padding-right: 8pt; text-align: right; font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">August 10, 2032</FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); text-indent: -0.125in; padding-left: 0.25in; font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">15-Year
    Series E <BR>
    Senior Secured Notes</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">100</FONT></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-right: 8pt; text-align: right; font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">June 19, 2034</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">As at April 30, 2022, the Series A Mandatory Redeemable Preferred Shares
(&quot;MRPS&quot;), with a liquidation value of $50 million, are rated A by Fitch and the combined $350 million 10-year and 15-Year Series
B, C, D and E Senior Secured Notes are rated A by Fitch Ratings.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We believe the Fund has been able to lock in an attractive rate cost
of borrowing and extend the maturity of the leverage facility while diversifying its borrowing structure during what we believe to be
a favorable current interest rate environment. A more detailed description of the Fund's leverage can be found in the Report of the Investment
Manager and the Notes to Financial Statements.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Open Market Repurchase Program</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The Fund's policy is generally to buy back Fund shares on the open market
when the Fund trades at certain discounts to NAV and management believes such repurchases may enhance shareholder value. During the six-month
period ended April 30, 2022, the Fund did not repurchase any shares.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Portfolio Holdings Disclosure</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The Fund's complete schedule of portfolio holdings for the second and
fourth quarters of each fiscal year are included in the Fund's semiannual and annual reports to shareholders. The Fund files its</P>

</DIV>



<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">complete schedule of portfolio holdings with the Securities and Exchange
Commission (the &quot;SEC&quot;) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These
reports are available on the SEC's website at sec.gov. The Fund makes the information available to shareholders upon request and without
charge by calling Investor Relations toll-free at 1-800-522-5465.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Proxy Voting</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">A description of the policies and procedures that the Fund uses to determine
how to vote proxies relating to portfolio securities, and information regarding how the Fund voted proxies relating to portfolio securities
during the most recent 12 month period ended June 30 is available by August 31 of the relevant year: (i) upon request and without charge
by calling Investor Relations toll-free at 1-800-522-5465; and (ii) on the SEC's website at sec.gov.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Unclaimed Share Accounts</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Please be advised that abandoned or unclaimed property laws for certain
states require financial organizations to transfer (escheat) unclaimed property (including Fund shares) to the state. Each state has its
own definition of unclaimed property, and Fund shares could be considered &quot;unclaimed property&quot; due to account inactivity (e.g.,
no owner-generated activity for a certain period), returned mail (e.g., when mail sent to a shareholder is returned to the Fund's transfer
agent as undeliverable), or a combination of both. If your Fund shares are categorized as unclaimed, your financial advisor or the Fund's
transfer agent will follow the applicable state's statutory requirements to contact you, but if unsuccessful, laws may require that the
shares be escheated to the appropriate state. If this happens, you will have to contact the state to recover your property, which may
involve time and expense. For more information on unclaimed property and how to maintain an active account, please contact your financial
adviser or the Fund's transfer agent.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>COVID-19</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The COVID-19 pandemic has caused major disruption to economies and markets
around the world, including the United States. Financial markets have experienced losses, and some sectors of the economy and individual
issuers have experienced particularly large losses. Although many financial markets have generally recovered from such losses, market
volatility has continued. These circumstances may continue for an extended period of time, and as a result may affect adversely the value
and liquidity of the Fund's investments. The rapid development and fluidity of this situation precludes any prediction as to the ultimate
adverse impact of COVID-19 on economic and market conditions, and, as a result, present uncertainty and risk with respect to the Fund
and the performance of its investments and ability to pay distributions. The full extent of the impact and effects of COVID-19 will depend
on future developments, including, among other factors,</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-size: 7pt"><B>2</B></FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income Fund, Inc.</FONT></TD></TR>
  </TABLE>

<P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Letter
to Shareholders </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited) (concluded)</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">the duration and spread of the outbreak, along with related travel advisories,
quarantines and restrictions, the recovery time of the disrupted supply chains and industries, the impact of labor market interruptions,
the impact of government interventions, and uncertainty with respect to the duration of the global economic slowdown.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>LIBOR</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Under the revolving credit facility, the Fund is charged interest on
amounts borrowed at a variable rate, which may be based on the London Interbank Offered Rate (&quot;LIBOR&quot;) plus a spread. The Fund
may invest in certain debt securities, derivatives or other financial instruments that utilize LIBOR as a &quot;benchmark&quot; or &quot;reference
rate&quot; for various interest rate calculations. In July 2017, the United Kingdom Financial Conduct Authority (&quot;FCA&quot;), which
regulates LIBOR, announced a desire to phase out the use of LIBOR by the end of 2021. However, subsequent announcements by the FCA, the
LIBOR administrator and other regulators indicate that it is possible that the most widely used LIBOR rates may continue until mid-2023.
It is anticipated that LIBOR ultimately will be discontinued or the regulator will announce that it is no longer sufficiently robust to
be representative of its underlying market around that time. Although financial regulators and industry working groups have suggested
alternative reference rates, such as European Interbank Offered Rate (&quot;EURIBOR&quot;), Sterling Overnight Interbank Average Rate
(&quot;SONIA&quot;) and Secured Overnight Financing Rate (&quot;SOFR&quot;), global consensus on alternative rates is lacking and the
process for amending existing contracts or instruments to transition away from LIBOR remains unclear. The elimination of LIBOR or changes
to other reference rates or any other changes or reforms to the determination or supervision of reference rates could have an adverse
impact on the market for, or value of, any securities or payments linked to those reference rates, which may adversely affect the Fund's
performance and/or net asset value. Uncertainty and risk also remain regarding the willingness and ability of issuers and lenders to include
revised provisions in new and existing contracts or instruments. Consequently, the transition away from LIBOR to other reference rates
may lead to increased volatility and illiquidity in markets that are tied to LIBOR, fluctuations in values of LIBOR-related investments
or investments in issuers that utilize LIBOR, increased difficulty in borrowing or refinancing and diminished effectiveness of hedging
strategies, adversely affecting the Fund's performance. Furthermore, the risks associated with the expected</P>

</DIV>



<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">discontinuation of LIBOR and transition may be exacerbated if the work
necessary to effect an orderly transition to an alternative reference rate is not completed in a timely manner.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>abrdn Rebrand</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">abrdn plc, formerly known as Standard Life Aberdeen plc, was renamed
on September 27, 2021. In connection with this re-branding, the entities within abrdn plc group, including investment advisory entities,
have been or will be renamed in the near future. The Fund's Board has approved a change in the name of the Fund from &quot;Aberdeen Asia-Pacific
Income Fund, Inc.&quot; to &quot;abrdn Asia-Pacific Income Fund, Inc.&quot; effective on or about June 30, 2022. The internet address
for the Fund's website will also change from www.aberdeenfax.com to www.abrdnfax.com, effective as of June 30, 2022. The old address will
continue to redirect to the new address for at least a year.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Investor Relations Information</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">As part of abrdn's commitment to shareholders, we invite you to visit
the Fund on the web at www.aberdeenfax.com. Here, you can view monthly fact sheets, quarterly commentary, distribution and performance
information, and other Fund literature.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Enroll in abrdn's email services and be among the first to receive the
latest closed-end fund news, announcements, videos and other information. In addition, you can receive electronic versions of important
Fund documents, including annual reports, semi-annual reports, prospectuses, and proxy statements. Sign up today at https://www.abrdn.com/en-us/cefinvestorcenter/contact-us/preferences.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Contact Us:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Visit: https://www.abrdn.com/en-us/cefinvestorcenter</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Email: Investor.Relations@abrdn.com; or</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Call: 1-800-522-5465 (toll free in the U.S.).</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Yours sincerely,</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">/s/ Christian Pittard</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Christian Pittard</B><BR>
President</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>All amounts are U.S. Dollars unless otherwise
stated.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font: 7pt Arial, Helvetica, Sans-Serif">Aberdeen Asia-Pacific Income Fund, Inc.</TD>
    <TD STYLE="text-align: right; font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><B>3</B></TD></TR>
  </TABLE>

<P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Loan Facilities and the Use of Leverage
</FONT><FONT STYLE="font-size: 11pt">(unaudited)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Loan Facilities and the Use of Leverage</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The amounts borrowed under the Revolving Credit Facility, the Notes and
the Series A MRPS (each as defined below) may be invested to seek to return higher rates than the rates pursuant to which interests or
dividends are paid under such forms of leverage. However, the cost of leverage could exceed the income earned by the Fund on the proceeds
of such leverage. To the extent that the Fund is unable to invest the proceeds from the use of leverage in assets which pay interest at
a rate which exceeds the rate paid on the leverage, the yield on the Fund's common stock will decrease. In addition, in the event of a
general market decline in the value of assets in which the Fund invests, the effect of that decline will be magnified in the Fund because
of the additional assets purchased with the proceeds of the leverage.</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund employed leverage obtained via bank borrowing and other forms
of leverage during the six-month period ended April 30, 2022. On August 4, 2021, the Fund executed an amendment and assignment of the
$100,000,000 senior secured revolving credit loan facility (the &quot;Revolving Credit Facility&quot;) with a syndicate of banks with
The Bank of Nova Scotia, acting as administrative agent. On November 16, 2021, the Fund executed an amendment of the Credit Agreement
that increased the Revolving Credit Facility to $150,000,000. As of October 31, 2021, the Fund had $100,000,000 on the revoling credit
facility. Between November 22, 2021 and March 15, 2022, the Fund either drew down or paid down a net amount of $30,000,000. As of April
30, 2022, the Fund's outstanding balance on the revolving credit facility was $70,000,000.</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">At April 30, 2022, the Fund had $350,000,000 in aggregate principal amount
of senior secured notes rated `A' by Fitch Ratings outstanding ($100,000,000 in 3.69% Series B Senior Secured Notes due June 12, 2023,
$50,000,000 in 3.87% Series C Senior Secured Notes due February 8, 2032, $100,000,000 in 3.70% Series D Senior Secured Notes due August
10, 2032 and $100,000,000 in 3.73% Series D Senior Secured Notes due June 19, 2034) (collectively, the &quot;Notes&quot;).</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">At April 30, 2022, the Fund had 2,000,000 shares of Series A MRPS, rated
`A' by Fitch ratings, outstanding with an aggregate liquidation preference of $50,000,000 ($25 per share).</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund's leveraged capital structure creates special risks not associated
with unleveraged funds having similar investment objectives and policies. The funds borrowed pursuant to the Revolving Credit Facility
and the Notes may constitute a substantial lien and burden by reason of their prior claim against the income of the Fund</P>

</DIV>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">and against the net assets of the Fund in liquidation. The Fund is
limited in its ability to declare dividends or other distributions under the terms of the various forms of leverage. In the event of
an event of default under the Revolving Credit Facility, the lenders have the right to cause a liquidation of the collateral (i.e.,
sell portfolio securities and other assets of the Fund) and, if any such default is not cured, the lenders may be able to control
the liquidation as well. In the event of an event of default under the Note Purchase Agreement, the holders of the Notes have the
right to cause a liquidation of the collateral (i.e., cause the sale of portfolio securities and other assets of the Fund). A
liquidation of the Fund's collateral assets in an event of default, or a voluntary paydown of the Revolving Credit Facility, Series
A MRPS or the Notes in order to avoid an event of default, would typically involve administrative expenses and sometimes penalties.
Additionally, such liquidations often involve selling off of portions of the Fund's assets at inopportune times which can result in
losses when markets are unfavorable.</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Each of the Revolving Credit Facility Agreement, the Note Purchase Agreement,
and the Securities Purchase Agreement relating to the Series A MRPS includes usual and customary covenants for the applicable type of
transaction. These covenants impose on the Fund asset coverage requirements, Fund composition requirements and limits on certain investments,
such as illiquid investments, which are more stringent than those imposed on the Fund by the 1940 Act. The covenants or guidelines could
impede the Fund's investment manager, investment adviser, or sub-adviser from fully managing the Fund's portfolio in accordance with the
Fund's investment objective and policies. Furthermore, non-compliance with such covenants or the occurrence of other events could lead
to the cancellation of any and/or all of the forms of leverage. As of April 30, 2022, the Fund was in compliance with all covenants under
the agreements relating to the various forms of leverage. In July 2017, the FCA announced that it will no longer persuade or compel banks
to submit rates for the calculation of LIBOR after 2021. Such announcement indicates that the continuation of LIBOR on the current basis
cannot and will not be guaranteed after 2021. However, for U.S. dollar LIBOR, it now appears that the relevant date may be deferred to
June 30, 2023 for the most common tenors (overnight and one, three, six and 12 months).</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">On May 14, 2020, Fitch Ratings downgraded to 'AA' from 'AAA' the ratings
of the outstanding Series B-E senior secured notes issued by the Fund and has placed the outstanding Series B-E senior secured note ratings
on Rating Watch Negative (RWN). On the same date, Fitch Ratings also placed the 'AA' rated Series A MRPS on RWN.</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 7pt"><B>4</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific
                                            Income Fund, Inc.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Loan
Facilities and the Use of Leverage </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited) (concluded)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">On February 12, 2021, Fitch Ratings (&quot;Fitch&quot;), after a review
of the Fund under a revised rating criteria, downgraded the ratings assigned to the Senior Notes from 'AA' to &quot;A' and the ratings
assigned to the MRPS from 'AA' to 'A'. The ratings were also removed from Ratings Watch Negative and removed from Under Criteria Observation.</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Interest Rate Swaps</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund may enter into interest rate swaps to gain interest rate exposure
and hedge interest rate risk. As of April 30, 2022 the Fund held $70 million in Interest Rate Swaps.</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">As of April 30, 2022, the Fund held interest rate swap agreements with
an aggregate notional amount of $70 million, which represented 100% of the Fund's Revolving Credit Facility balance outstanding based
upon the notional amounts set forth below.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="background-color: rgb(220,221,222)">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 6pt 4.5pt 4pt 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Remaining<BR>
    Term as of<BR>
    April 30, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 6pt 4.5pt 4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Receive/(Pay)<BR>
    Floating<BR>
    Rate</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding: 6pt 4.5pt 4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Amount<BR>
    (in $ millions)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 6pt; padding-bottom: 4pt; padding-left: 4.5pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Fixed
    Rate<BR>
    Payable (%)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-left: 6pt; vertical-align: bottom; width: 35%; padding-right: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">55
    months</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.5pt; vertical-align: bottom; width: 17%; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.5pt; vertical-align: bottom; width: 22%; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$10.0</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 22%; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.33%</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-left: 6pt; vertical-align: bottom; padding-right: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">57
    months</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.5pt; vertical-align: bottom; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.5pt; vertical-align: bottom; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$
    6.0</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.75%</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-left: 6pt; vertical-align: bottom; padding-right: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">77
    months</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.5pt; vertical-align: bottom; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.5pt; vertical-align: bottom; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$
    9.0</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.17%</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-left: 6pt; vertical-align: bottom; padding-right: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">96
    months</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.5pt; vertical-align: bottom; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.5pt; vertical-align: bottom; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$15.0</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.62%</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-left: 6pt; vertical-align: bottom; padding-right: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">96
    months</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.5pt; vertical-align: bottom; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.5pt; vertical-align: bottom; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$5.0</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.67%</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 6pt; vertical-align: bottom; padding-right: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">109
    months</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-right: 4.5pt; vertical-align: bottom; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.5pt; vertical-align: bottom; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$25.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.72%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>



<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">A significant risk associated with interest rate swaps is the risk that
the counterparty may default or file for bankruptcy, in which case the Fund would bear the risk of loss of the amount expected to be received
under the swap agreements. There can be no assurance that the Fund will have an interest rate swap in place at any given time nor can
there be any assurance that, if an interest rate swap is in place, it will be successful in hedging the Fund's interest rate risk with
respect to the loan facility. The implementation of this strategy is at the discretion of the Leverage Committee of the Board.</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Acknowledging historically low level of short-rates, the Fund used interest
rate swap agreements to hedge up to 100% of the interest rate risk on the revolving credit facility thereby locking in the cost of leverage
used by the Fund.</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In recent months, the market's view of policy rates has drastically changed,
as the economic recovery endures, and inflationary pressures have become more elevated and less transient in nature. Additionally, the
Federal Reserve proceeded with a tightening of monetary policy at a more aggressive pace than initially expected. On May 10, 2022, the
Fund sold its interest rate swap agreements with an aggregate notional amount of $70 million.</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income
    Fund, Inc.</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in"><FONT STYLE="font-size: 7pt"><B>5</B></FONT></TD></TR>
  </TABLE>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Total
Investment Return </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The following table summarizes the average annual Fund performance for
the 6-month, 1-year, 3-year, 5-year and 10-year periods ended as of April 30, 2022.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.7pt 4pt 6pt; background-color: rgb(220,221,222); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; background-color: rgb(220,221,222)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>6
    Months</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; background-color: rgb(220,221,222)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>1
    Year</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; background-color: rgb(220,221,222)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>3
    Years</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; background-color: rgb(220,221,222)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>5
    Years</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; background-color: rgb(220,221,222)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>10
    Years</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; background-color: rgb(220,221,222)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom; width: 41%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net Asset
    Value (NAV)<SUP>1</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-12.5%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-15.1%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-0.88%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.54%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.71%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 4%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Market Price</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-20.6%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-18.3%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-0.27%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-0.38%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-0.64%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Blended Benchmark*</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-8.1%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-9.6%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.1%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.8%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.7%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Bloomberg Asian-Pacific
    Aggregate Index<SUP>1 </SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-8.8%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-10.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-1.4%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-0.3%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">-2.0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">The blended benchmark is summarized in the table below:</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="padding-top: 2pt; background-color: rgb(220,221,222); border-bottom: Black 1pt solid; padding-left: 6pt; vertical-align: bottom; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Index</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: rgb(220,221,222); border-bottom: Black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: rgb(220,221,222); border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Weight</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: rgb(220,221,222); border-bottom: Black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom; width: 75%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Bloomberg
    AusBond Composite Index<SUP>2</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 6%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 15%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 4%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Markit
    iBoxx Asian Local Bond Index<SUP>3</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">40%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">JP
    Morgan Asia Credit Index &ndash; Diversified<SUP>4</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">35%</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">JP
    Morgan GBI Emerging Market Global Diversified<SUP>5</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">15%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Performance of a $10,000 Investment</B> (as of April 30, 2022)</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">This graph shows the change in value of a hypothetical investment of
$10,000 in the Fund for the period indicated. For comparison, the same investment is shown in the indicated index.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><IMG SRC="tm2211703d13_ncsrsimg002.jpg" ALT=""></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund changed its investment strategies effective June 24, 2020, following
shareholder approval of the changes. Performance information for periods prior to June 24, 2020 does not reflect the current investment
strategy. Please see Note 1 in the Notes to Financial Statements for details.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 2pt; width: 0in"></TD><TD STYLE="padding-bottom: 2pt; width: 0.25in; text-align: left">1</TD><TD STYLE="padding-bottom: 2pt; text-align: justify">The Bloomberg Asian-Pacific Aggregate Index contains fixed-rate,
investment-grade securities denominated in Australian dollar, Chinese yuan, Hong Kong dollar, Indonesian rupiah, Japanese yen, Malaysian
ringgit, New Zealand dollar, Singapore dollar, South Korean won and Thai baht. The index is composed primarily of local currency sovereign
debt, but also includes government-related, corporate and securitized bonds.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 2pt; width: 0in"></TD><TD STYLE="padding-bottom: 2pt; width: 0.25in; text-align: left">2</TD><TD STYLE="padding-bottom: 2pt; text-align: justify">The Bloomberg AusBond Composite Bond Index includes investment
grade fixed interest bonds of all maturities issued in the Australian debt market under Australian law.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 2pt; width: 0in"></TD><TD STYLE="padding-bottom: 2pt; width: 0.25in; text-align: left">3</TD><TD STYLE="padding-bottom: 2pt; text-align: justify">The Market iBoxx Asia Local Bond Indices (&quot;iBoxx ALBI&quot;)
is designed to reflect the performance of local currency bonds from 11 Asian local currency bond markets.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 2pt; width: 0in"></TD><TD STYLE="padding-bottom: 2pt; width: 0.25in; text-align: left">4</TD><TD STYLE="padding-bottom: 2pt; text-align: justify">The JP Morgan Asian Credit Diversified Index is a variant of
the JP Morgan Asia Credit Index (JACI) focuses on reducing concentration risk of the JACI index to anyparticular market. The JACI is
a broad-based securities market index which consists of liquid US dollar-denominated debt securities issued out of Asia ex-Japan region.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 2pt; width: 0in"></TD><TD STYLE="padding-bottom: 2pt; width: 0.25in; text-align: left">5</TD><TD STYLE="padding-bottom: 2pt; text-align: justify">The JP Morgan GBI Emerging Market Global Diversified tracks
performance of global EM sovereign local currency bond markets. Weighting methodology is designed to deliver a diversified universe of
issuers.</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 7pt"><B>6</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific
                                            Income Fund, Inc.</FONT></TD>
</TR></TABLE>








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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Total Investment Return </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(concluded)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>abrdn Inc. has entered into an agreement with the Fund to limit investor
relations services fees. This agreement aligns with the term of the advisory agreement and may not be terminated prior to the end of the
current term of the advisory agreement. Returns represent past performance. Total investment return at NAV is based on changes in the
NAV of Fund shares and assumes reinvestment of dividends and distributions, if any, at market prices pursuant to the dividend reinvestment
program. All return data at NAV includes fees charged to the Fund, which are listed in the Fund's Statement of Operations under &quot;Expenses.&quot;
Total investment return at market value is based on changes in the market price at which the Fund's shares traded on the NYSE American
during the period and assumes reinvestment of dividends and distributions, if any, at market prices pursuant to the dividend reinvestment
program. The Fund's total investment return is based on the reported NAV on the financial reporting period ended April 30, 2022. Because
the Fund's shares trade in the stock market based on investor demand, the Fund may trade at a price higher or lower than its NAV. Therefore,
returns are calculated based on both market price and NAV. <B>Past performance is no guarantee of future results.</B> The performance
information provided does not reflect the deduction of taxes that a shareholder would pay on distributions received from the Fund. The
current performance of the Fund may be lower or higher than the figures shown. The Fund's yield, return, market price and NAV will fluctuate.
Performance information current to the most recent month-end is available at www.aberdeenfax.com or by calling 800-522-5465.</I></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>The annualized total operating expense ratio based on the six-month
period ended April 30, 2022 was 2.90%. The annualized total operating expense ratio, excluding interest expense and distributions to Series
A Mandatory Redeemable Preferred Shares, based on the six-month period ended April 30, 2022 was 1.26%.</I></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-size: 7pt"><B>7</B></FONT></TD></TR>
  </TABLE>







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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Portfolio
Composition </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Quality of Investments<SUP>(1)</SUP></B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">As of April 30, 2022, 14.8% of the Fund's total investments were invested
in securities where either the issue or the issuer was rated &quot;A&quot; or better by S&amp;P, Moody's or Fitch or, if unrated, was
judged to be of equivalent quality by the Investment Manager. The table below shows the asset quality of the Fund's portfolio as of April
30, 2022, compared to October 31, 2021 and April 30, 2021:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.7pt 2pt 6pt; background-color: rgb(220,221,222); text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Date</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; background-color: rgb(220,221,222); text-align: right; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>AAA/Aaa<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; background-color: rgb(220,221,222); text-align: right; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>AA/Aa<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; background-color: rgb(220,221,222); text-align: right; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>A<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; background-color: rgb(220,221,222); text-align: right; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>BBB/Baa<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; background-color: rgb(220,221,222); text-align: right; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>BB/Ba*<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; background-color: rgb(220,221,222); text-align: right; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>B*<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; background-color: rgb(220,221,222); text-align: right; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>CCC*<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; background-color: rgb(220,221,222); text-align: right; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>NR**<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; background-color: rgb(220,221,222); text-align: right; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom; width: 25%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 30, 2022</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.4</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.6</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5.8</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">28.0</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11.6</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">8.1</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.2</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">36.3</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 3%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">October 31, 2021</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7.7</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.8</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5.7</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">26.7</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11.3</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9.6</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.8</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">35.4</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 30, 2021</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7.3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5.7</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.9</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">29.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9.4</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9.6</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">34.8</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Below investment grade</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">**</TD><TD STYLE="text-align: justify">Not Rated</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">For financial reporting purposes, credit quality ratings shown
above reflect the lowest rating assigned by either S&amp;P, Moody's or Fitch if ratings differ. These rating agencies are independent,
nationally recognized statistical rating organization and are widely used. Investment grade ratings are credit ratings of BBB/Baa or
higher. Below investment grade ratings are credit ratings of BB/Ba or lower. Investments designated NR are not rated by either rating
agency. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. abrdn Asia
Limited (formerly, Aberdeen Standard Investments (Asia) Limited) evaluated the credit quality of unrated investments based upon, but
not limited to, credit ratings for similar investments.</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Geographic Composition</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The table below shows the geographical composition (with U.S. Dollar-denominated
bonds issued by foreign issuers allocated into country of issuance) of the Fund's total investments as of April 30, 2022, compared to
October 31, 2021 and April 30, 2021:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; background-color: rgb(220,221,222); padding-left: 6pt; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Date</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; background-color: rgb(220,221,222); text-align: right; border-bottom: Black 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); white-space: nowrap; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Asia<BR>
(including NZ)<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; background-color: rgb(220,221,222); text-align: right; border-bottom: Black 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Australia<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; background-color: rgb(220,221,222); text-align: right; border-bottom: Black 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Latin<BR>
America<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; background-color: rgb(220,221,222); text-align: right; border-bottom: Black 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Europe<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; background-color: rgb(220,221,222); text-align: right; border-bottom: Black 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>United<BR>
States<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; background-color: rgb(220,221,222); text-align: right; border-bottom: Black 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Africa<BR>
%</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; background-color: rgb(220,221,222); text-align: right; border-bottom: Black 1pt solid; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom; width: 37%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 30, 2022</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 9%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">74.8</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 9%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11.0</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 9%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5.2</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 9%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.5</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 9%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.5</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 9%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.0</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 3%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">October 31, 2021</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">75.0</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11.6</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.5</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5.0</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.2</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.7</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 30, 2021</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">72.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">13.2</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.8</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.4</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Currency Composition</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The table below shows the currency composition, including hedges, of
the Fund's total investments as of April 30, 2022, compared to October 31, 2021 and April 30, 2021:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0 2pt 6pt; background-color: rgb(220,221,222); white-space: nowrap; text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Date</B>&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2pt; padding-top: 2pt; background-color: rgb(220,221,222); white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); white-space: nowrap; text-align: right; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt"><B>Asian
    Currencies<BR>
    (including NZ Dollar)<BR>
    %</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; padding-top: 2pt; background-color: rgb(220,221,222); white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); white-space: nowrap; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>US
    Dollar*<BR>
    %</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; padding-top: 2pt; background-color: rgb(220,221,222); white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); white-space: nowrap; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Australian<BR>
    Dollar<BR>
    %</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; padding-top: 2pt; background-color: rgb(220,221,222); white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); white-space: nowrap; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Latin
    American<BR>
    Currencies<BR>
    %</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; padding-top: 2pt; background-color: rgb(220,221,222); white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,221,222); white-space: nowrap; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>European<BR>
    Currencies<BR>
    %</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; padding-top: 2pt; background-color: rgb(220,221,222); white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom; width: 27%; padding-right: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April
    30, 2022</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); text-align: right; vertical-align: bottom; width: 13%; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;47.7</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 13%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">37.8</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 13%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9.0</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 13%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5.2</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 13%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.3</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 3%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); padding-left: 6pt; vertical-align: bottom; padding-right: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">October
    31, 2021&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); text-align: right; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">46.1</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">38.8</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10.1</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.4</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.6</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; padding-left: 6pt; vertical-align: bottom; padding-right: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April
    30, 2021</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; text-align: right; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;44.8</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">44.2</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7.3</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.7</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.0</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Includes U.S. Dollar-denominated bonds issued by foreign issuers:
50.7% of the Fund's total investments on April 30, 2022, 51.1% of the Fund's total investments on October 31, 2021, and 51.4% of the
Fund's total investments on April 30, 2021.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 7pt"><B>8</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific
                                            Income Fund, Inc.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Split-Segment; Name: a%2D3 -->
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: normal">Portfolio
Composition </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: normal">(unaudited)
(concluded)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt; font-style: normal; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Maturity Composition</B></P>

<P STYLE="font: 3pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">As of April 30, 2022, the average maturity of the Fund's total investments
was 11.9 years, compared with 11.5 years at October 31, 2021 and compared with 9.6 years at April 31, 2021. The following table shows
the maturity composition of the Fund's investments as of April 30, 2022, compared to October 31, 2021 and April 30, 2021:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 6pt; background-color: rgb(220,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt; background-color: rgb(220,221,222)">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Under 3 Years<BR>
%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt; background-color: rgb(220,221,222)">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>3 to 5 Years<BR>
%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt; background-color: rgb(220,221,222)">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>5 to 10 Years<BR>
%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt; background-color: rgb(220,221,222)">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-bottom: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>10 Years &amp; Over<BR>
%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt; background-color: rgb(220,221,222)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-left: 6pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 15%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 30, 2022</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 24%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 13%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">28.0</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 13%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">15.9</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 13%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">36.3</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 13%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">19.8</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 2%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 6pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">October 31, 2021</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">27.6</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">18.7</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">34.3</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">19.4</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 6pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 30, 2021</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">27.1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">22.4</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">33.2</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">17.3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Modified Duration*</B></P>

<P STYLE="font: 3pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">As of April 30, 2022, the modified duration of the Fund was 4.4 years.
This calculation excludes the interest rate swaps that are used to manage the leverage of the Fund. Excluding swaps will increase portfolio
duration.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Modified duration is a measure of the sensitivity of the price
of a bond to the fluctuations in interest rates.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 13; Options: NewSection; Value: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><TR STYLE="vertical-align: top"><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income Fund, Inc.</FONT></TD><TD STYLE="text-align: right; width: 0.25in"><FONT STYLE="font-size: 7pt"><B>9</B></FONT></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: normal 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Summary
of Key Rates </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited)</FONT></P>

<P STYLE="font: normal 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The following table summarizes the movements of key interest rates and
currencies from April 30, 2022 compared to October 31, 2021 and April 30, 2021.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="background-color: rgb(220,221,222)">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Apr-22</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Oct-21</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Apr-21</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom; width: 137px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Australia</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; width: 148px; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">90
    day Bank Bills &nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; width: 13%; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.70</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt; width: 7px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; width: 13%; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.08</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; width: 13%; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.04</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt; width: 2%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10
    &nbsp;yr bond</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.83</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.58</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.08</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding: 2pt 0.7pt 1pt 6pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">currency local per 1USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1.41</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1.33</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1.29</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">South Korea</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">90 day commercial paper</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.72</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.12</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.73</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10
    &nbsp;yr bond</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.24</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.56</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.13</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding: 2pt 0.7pt 1pt 6pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">currency local per 1USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#8361;1256.00</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#8361;1168.55</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#8361;1112.35</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Thailand</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3 months deposit rate</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.38</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.38</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.38</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10
    &nbsp;yr bond</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.71</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.97</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.77</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding: 2pt 0.7pt 1pt 6pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">currency local per 1USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#3647;34.25</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#3647;33.18</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#3647;31.14</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Philippines</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">90
    day T-Bills &nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.25</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.21</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.64</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10
    &nbsp;yr bond</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6.00</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.90</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7.67</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding: 2pt 0.7pt 1pt 6pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">currency local per 1USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#8369;52.21</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#8369;50.41</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#8369;48.15</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Malaysia</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3-month
    T-Bills &nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.80</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.78</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.77</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10
    &nbsp;yr bond</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.38</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.58</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.11</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding: 2pt 0.7pt 1pt 6pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">currency local per 1USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">RM4.35</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">RM4.14</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">RM4.10</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Singapore</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3-month
    T-Bills &nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.29</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.40</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.35</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10
    &nbsp;yr bond</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.53</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.84</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.59</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding: 2pt 0.7pt 1pt 6pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">currency local per 1USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">S$
    1.38</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">S$
    1.35</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">S$
    1.33</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">India</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3-month
    T-Bills &nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.04</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.52</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6.11</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10
    &nbsp;yr bond</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7.14</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6.39</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6.03</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding: 2pt 0.7pt 1pt 6pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">currency local per 1USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#8377;76.44</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#8377;74.88</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&#8377;74.07</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3 months deposit rate</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.26</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.50</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.09</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10
    &nbsp;yr bond</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6.97</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6.03</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6.44</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding: 2pt 0.7pt 1pt 6pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">currency local per 1USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Rp14497.00</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Rp14167.50</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Rp14445.00</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China Onshore</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3-month
    Bill Yield &nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.84</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.24</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.63</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10
    &nbsp;yr bond</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.84</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.97</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.15</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding: 2pt 0.7pt 1pt 6pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">currency local per 1USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&yen;
    6.59</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&yen;6.40</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&yen;6.47</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Sri Lanka</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3-month Generic Govt Yield</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">20.33</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7.82</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5.11</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10
    &nbsp;yr bond</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">17.26</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11.29</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">8.05</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding: 2pt 0.7pt 1pt 6pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">currency local per 1USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Rs351.32</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Rs202.00</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Rs197.50</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding-top: 2pt; padding-left: 6pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD Denominated Bonds</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.01</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.20</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.29</FONT></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(241,241,242)">
    <TD STYLE="padding: 2pt 0.7pt 1pt 6pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Sri Lanka</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">24.45</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">16.15</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">14.78</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-top: 2pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<!-- Field: Page; Sequence: 14; Options: NewSection; Value: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><TR STYLE="vertical-align: top"><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-size: 7pt"><B>10</B></FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income Fund, Inc.</FONT></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: normal 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Statement
of Investments </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited)</FONT></P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 12pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="background-color: rgb(220,221,222)">
    <TD COLSPAN="3" STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; padding-left: 0.25in; vertical-align: bottom"><FONT STYLE="font-size: 9pt"><B>Principal
    <BR>
    Amount <BR>
    (000) or Shares</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 9pt"><B>Description</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; text-align: center; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; text-align: center; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt"><B>Value<BR>
    (US$)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="8" STYLE="padding-top: 3pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>CORPORATE
    BONDS&mdash;81.5%</B></FONT></TD>
    <TD STYLE="padding-top: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD COLSPAN="8" STYLE="padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>AUSTRALIA&mdash;6.8%</B></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; width: 4%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; width: 10%; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; width: 1%; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 71%; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Australia
    &amp; New Zealand Banking Group Ltd., (fixed rate to 06/15/2026, variable rate thereafter), 6.75%, 06/15/2026<SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,285,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Emeco
    Pty. Ltd., 6.25%, 07/10/2023<SUP>(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">694,709</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,845</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Macquarie
    Bank Ltd., 3.62%, 06/03/2030<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,142,576</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,850</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Mineral
    Resources Ltd., 8.00%, 11/01/2027</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,824,313</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">17,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">New
    South Wales Treasury Corp., 2.00%, 03/20/2031</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,658,435</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,270</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Qantas
    Airways Ltd., 5.25%, 06/09/2030<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,519,074</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">QBE
    Insurance Group Ltd., (fixed rate to 05/12/2025, variable rate thereafter), 5.88%, 05/12/2025<SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,020,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,100</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Santos
    Finance Ltd., 4.13%, 06/14/2027<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">8,788,219</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">410</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Transurban
    Queensland Finance Pty Ltd., 3.25%, 05/07/2031<SUP>(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">242,720</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Treasury
    Corp. of Victoria, 2.25%, 11/20/2040</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,738,907</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">23,600</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Wesfarmers
    Ltd., 2.55%, 03/23/2031<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">13,741,269</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">SGD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">250</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Westpac
    Banking Corp., 4.11%, 04/15/2025</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">185,654</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>61,840,876</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="3" STYLE="padding-top: 3pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>BAHRAIN&mdash;0.3%</B></FONT></TD>
    <TD STYLE="padding-top: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-top: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,500</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Oil
    &amp; Gas Holding Co. BSCC, 7.50%, 10/25/2027<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,628,605</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>2,628,605</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD COLSPAN="3" STYLE="padding-top: 3pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>CHINA&mdash;16.9%</B></FONT></TD>
    <TD STYLE="padding-top: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-top: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Bank
    of China Ltd., 5.00%, 11/13/2024<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,096,863</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">200</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Central
    China Real Estate Ltd., 7.25%, 05/30/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">91,500</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,610</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Central
    China Real Estate Ltd., 7.65%, 08/27/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,892,405</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">800</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Central
    China Real Estate Ltd., 7.90%, 05/30/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">304,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">30,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Central
    Huijin Investment Ltd., 3.02%, 03/13/2025</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,566,079</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Central
    Huijin Investment Ltd., 3.67%, 01/16/2024</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,539,551</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">50,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China
    Construction Bank Corp., 3.45%, 08/10/2026<SUP>(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,601,715</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,800</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China
    Construction Bank Corp., (fixed rate to 02/27/2024, variable rate thereafter), 4.25%, 02/27/2024<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,833,492</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China
    Construction Bank Corp., (fixed rate to 06/24/2025, variable rate thereafter), 2.45%, 06/24/2025<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,816,940</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">120,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China
    Development Bank, 3.34%, 07/14/2025</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">18,568,969</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">12,500</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China
    Evergrande Group, 8.75%, 05/30/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,375,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China
    Oil &amp; Gas Group Ltd., 5.50%, 05/30/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">993,800</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">40,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China
    Petroleum &amp; Chemical Corp., 2.70%, 04/01/2023</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,079,715</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,405</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CMHI
    Finance BVI Co. Ltd. (fixed rate to 10/09/2025 variable rate thereafter), 3.88%, 10/09/2025<SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,406,022</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,600</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNAC
    HK Finbridge Co. Ltd., 3.88%, 06/19/2029<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,392,990</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,320</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNAC
    HK Finbridge Co. Ltd., 5.13%, 03/14/2028<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,372,799</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,522</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Country
    Garden Holdings Co. Ltd., 3.30%, 10/12/2030<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,513,200</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,161</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Country
    Garden Holdings Co. Ltd., 7.25%, 04/08/2023<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,058,335</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Country
    Garden Real Estate Sdn Bhd, 6.40%, 05/06/2022</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,297,692</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,526</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">ENN
    Clean Energy International Investment Ltd., 3.38%, 05/12/2024<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,153,042</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,600</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Gansu
    Provincial Highway Aviation Tourism Investment Group Co. Ltd., 3.25%, 11/03/2023<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,529,907</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Geely
    Automobile Holdings Ltd., 3.63%, 01/25/2023<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,991,600</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,962</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">GLP
    China Holdings Ltd., 2.95%, 03/29/2026<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,617,200</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,400</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">HBIS
    Group Hong Kong Co. Ltd., 3.75%, 12/18/2022<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,416,200</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,400</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Huarong
    Finance II Co. Ltd., 5.00%, 11/19/2025<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,334,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,700</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Huarong
    Finance II Co. Ltd., 5.50%, 01/16/2025<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,566,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">30,000</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Industrial
    &amp; Commercial Bank of China Ltd., 3.28%, 01/20/2027<SUP>(c)</SUP></FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,512,501</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 15; Options: NewSection; Value: 11 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><TR STYLE="vertical-align: top"><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income Fund, Inc.</FONT></TD><TD STYLE="text-align: right; width: 0.25in"><FONT STYLE="font-size: 7pt"><B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></B></FONT></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Statement
of Investments </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited) (continued)</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 5pt; font-style: normal; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 12pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; padding-left: 0.25in; background-color: rgb(220,221,222); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Principal<BR>
    Amount<BR>
    (000) or Shares</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; background-color: rgb(220,221,222)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Description</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; background-color: rgb(220,221,222)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; padding-right: 0.7pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Value<BR>
    (US$)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; background-color: rgb(220,221,222)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="8" STYLE="padding-top: 3pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>CORPORATE BONDS (continued)</B></FONT></TD>
    <TD STYLE="padding-top: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD COLSPAN="4" STYLE="padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>CHINA (continued)</B></FONT></TD>
    <TD COLSPAN="4" STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 4%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">50,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom; width: 71%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Industrial
    &amp; Commercial Bank of China Ltd. Series A, 4.15%, 11/16/2025<SUP>(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,815,164</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">700</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Kaisa
    Group Holdings Ltd., 9.75%, 09/28/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">140,875</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,603</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Kaisa
    Group Holdings Ltd., 10.88%, 05/30/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">944,766</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,941</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Kaisa
    Group Holdings Ltd., 11.95%, 05/30/2022<SUP>(a)(c)(d)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">818,743</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,670</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">King
    Talent Management Ltd., (Fixed rate to 12/04/2022, variable rate thereafter), 5.60%, 12/04/2022<SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,449,800</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,800</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Logan
    Group Co. Ltd., 5.25%, 10/19/2023<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,203,500</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;7,800</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Logan
    Group Co. Ltd., 6.50%, 05/30/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,301,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,083</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Longfor
    Group Holdings Ltd., 3.95%, 09/16/2029<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,834,384</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,083</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MCC
    Holding Hong Kong Corp. Ltd., (fixed rate to 04/20/2024, variable rate thereafter), 2.95%, 04/20/2024<SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,003,381</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,800</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">New
    Metro Global Ltd., 4.80%, 12/15/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,183,950</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,040</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Shandong
    Iron And Steel Xinheng International Co. Ltd., 4.80%, 07/28/2024<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,019,600</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,754</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Shandong
    Iron And Steel Xinheng International Co., Ltd., 6.50%, 11/05/2023<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,829,080</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,800</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Shimao
    Group Holdings Ltd., 5.60%, 07/15/2023<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">672,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,400</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Shimao
    Group Holdings Ltd., 6.13%, 05/17/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,146,200</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,807</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">SPIC
    Luxembourg Latin America Renewable Energy Investment Co. Sarl, 4.65%, 10/30/2023<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,853,372</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">690</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Sunac
    China Holdings Ltd., 5.95%, 01/26/2023<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">159,735</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,714</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Sunac
    China Holdings Ltd., 6.80%, 10/20/2023<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,311,363</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,786</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Sunac
    China Holdings Ltd., 7.00%, 07/09/2023<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">392,920</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,100</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Times
    China Holdings Ltd., 6.20%, 09/22/2023<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,017,500</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,180</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Xiaomi
    Best Time International Ltd., 2.88%, 04/14/2031<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,606,728</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Yuzhou
    Group Holdings Co. Ltd., 8.30%, 11/27/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">876,750</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,457</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Zhenro
    Properties Group Ltd., 6.63%, 01/07/2024<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">888,845</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Zhenro
    Properties Group Ltd., 7.10%, 09/10/2023<SUP>(a)(c)(d)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">90,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Zhenro
    Properties Group Ltd., 7.88%, 01/14/2023<SUP>(a)(c)(d)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">360,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,156</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Zhongsheng
    Group Holdings Ltd., 3.00%, 12/13/2025<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,911,414</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>152,752,587</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="4" STYLE="padding-top: 3pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>GERMANY&mdash;0.8%</B></FONT></TD>
    <TD COLSPAN="4" STYLE="padding-top: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Landwirtschaftliche
    Rentenbank, 4.75%, 04/08/2024<SUP>(e)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,304,751</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="4" STYLE="padding-top: 3pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>HONG KONG&mdash;0.9%</B></FONT></TD>
    <TD COLSPAN="4" STYLE="padding-top: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CAS
    Capital No 1 Ltd. (fixed rate to 07/12/2026, variable rate thereafter), 4.00%, 07/12/2026<SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,545,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">980</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Hutchison
    Whampoa International 03/33 Ltd., 7.45%, 11/24/2033<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,270,854</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>7,815,854</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="4" STYLE="padding-top: 3pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>INDIA&mdash;19.4%</B></FONT></TD>
    <TD COLSPAN="4" STYLE="padding-top: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,302</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Adani
    Electricity Mumbai Ltd., 3.95%, 02/12/2030<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,263,162</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,910<BR>
    &nbsp;&nbsp; &nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: top; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Adani
    Green Energy UP Ltd. / Prayatna Developers Pvt Ltd. / Parampujya Solar Energy Pvt Ltd., 6.25%, 12/10/2024<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,981,864</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,050</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Adani
    Transmission Ltd., 4.00%, 08/03/2026<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,920,411</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,629</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Adani
    Transmission Ltd., 4.25%, 05/21/2036<SUP>(a)(f)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,209,289</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">200,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Axis
    Bank Ltd., 7.60%, 10/20/2023</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,675,773</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">500,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Axis
    Bank Ltd., 8.85%, 12/05/2024</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,890,159</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,900</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Axis
    Bank Ltd. (fixed rate to 09/8/2026, variable rate thereafter), 4.10%, 09/08/2026<SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,987,489</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,030</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Azure
    Power Solar Energy Pvt Ltd., 5.65%, 09/24/2022<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,031,828</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,300</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Bharti
    Airtel International Netherlands BV, 5.35%, 05/20/2024<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,377,550</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">800</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CA
    Magnum Holdings, 5.38%, 10/31/2023<SUP>(a)(c)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">764,000</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,200</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">GMR
    Hyderabad International Airport Ltd., 4.75%, 02/02/2026<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,149,600</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,173</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">GMR
    Hyderabad International Airport Ltd., 5.38%, 04/10/2024<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,196,279</FONT></TD>
    <TD STYLE="padding-bottom: 3pt; background-color: rgb(241,241,242)"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 16; Options: NewSection; Value: 12 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 7pt; vertical-align: top"><TD STYLE="font-size: 7pt; text-align: left; width: 0.25in"><FONT STYLE="font-size: 7pt"><B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></B></FONT></TD><TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income Fund, Inc.</FONT></TD></TR></TABLE><P STYLE="font-size: 7pt; margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Statement of Investments </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 12pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.3in; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Principal<BR>
    Amount<BR> (000) or Shares</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; background-color: rgb(220,221,222); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; background-color: rgb(220,221,222); font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Description</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; background-color: rgb(220,221,222); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; background-color: rgb(220,221,222); font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Value<BR>
    (US$)</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; background-color: rgb(220,221,222); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="9" STYLE="background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-left: 0.15in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CORPORATE
    BONDS (continued)</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INDIA
    (continued)</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; width: 4%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">8,206</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; width: 1%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; width: 71%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Greenko
    Wind Projects Mauritius Ltd., 5.50%, 04/06/2024<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; width: 1%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">8,004,953</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; width: 1%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">750,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">HDFC
    Bank Ltd., 7.95%, 09/21/2026</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,162,688</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,304</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">HDFC
    Bank Ltd., (Fixed rate to 08/25/2026, variable rate thereafter), 3.70%, 08/25/2026<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,664,900</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">100,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Housing
    Development Finance Corp. Ltd., 7.90%, 08/24/2026</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,351,608</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">100,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">ICICI
    Bank Ltd., 7.60%, 10/07/2023</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,338,046</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">250,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">ICICI
    Bank Ltd., 9.15%, 08/06/2024</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,483,991</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,732</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IIFL
    Finance Ltd., 5.88%, 04/20/2023<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,636,849</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,072</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">India
    Green Power Holdings, 4.00%, 02/22/2024<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,122,938</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indiabulls
    Housing Finance Ltd., 6.38%, 05/28/2022<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,980,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">100,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indiabulls
    Housing Finance Ltd., 9.00%, 04/29/2026</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,235,617</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">50,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indian
    Railway Finance Corp. Ltd., 8.45%, 12/04/2028</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">693,035</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,420</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">JSW
    Infrastructure Ltd., 4.95%, 10/21/2028<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,072,432</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">150,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">National
    Highways Authority of India, 7.70%, 09/13/2029</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,988,850</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">50,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">NTPC
    Ltd., 8.05%, 05/05/2026</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">688,196</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">250,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">NTPC
    Ltd., 8.10%, 05/27/2026</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,448,576</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,280</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Periama
    Holdings LLC, 5.95%, 04/19/2026<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,217,024</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,112</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Power
    Finance Corp. Ltd., 6.15%, 12/06/2028<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,515,550</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">250,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Power
    Finance Corp. Ltd., 8.39%, 04/19/2025</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,426,284</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">400,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Power
    Finance Corp. Ltd., 8.65%, 12/28/2024</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,529,228</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">150,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Power
    Grid Corp. of India Ltd., 8.13%, 04/25/2027</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,105,226</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">500,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Power
    Grid Corp. of India Ltd., 8.13%, 04/25/2028</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,077,169</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,689</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">REC
    Ltd., 4.75%, 05/19/2023<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,717,211</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">150,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">REC
    Ltd., 8.10%, 06/25/2024</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,032,704</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">150,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">REC
    Ltd., 9.34%, 08/25/2024</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,087,779</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">70,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">REC
    Ltd., 9.35%, 06/15/2022</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">921,385</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,200</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Reliance
    Industries Ltd., 4.13%, 01/28/2025<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,221,700</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">8,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Shriram
    Transport Finance Co. Ltd., 4.40%, 03/13/2024<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,624,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">300,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">State
    of Maharashtra India, 7.20%, 08/09/2027</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,936,096</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,327</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">UPL
    Corp. Ltd., 4.63%, 06/16/2030<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,034,086</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,500</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Vedanta
    Resources Ltd., 6.38%, 07/30/2022<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,493,035</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">176,258,560</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="7" STYLE="background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-left: 0.15in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INDONESIA&mdash;4.9%</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">20,000,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Adira
    Dinamika Multi Finance Tbk PT, 7.80%, 10/04/2022</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,404,842</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,198</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Bank
    Mandiri Persero Tbk PT, 4.75%, 05/13/2025<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,263,844</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,000,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Bank
    Rakyat Indonesia Persero Tbk PT, 8.25%, 08/24/2024</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">719,459</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,300</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Bank
    Tabungan Negara Persero Tbk PT, 4.20%, 01/23/2025<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,091,950</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,326</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">FPC
    Treasury Ltd., 4.50%, 04/16/2023<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,355,293</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,766</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Hutama
    Karya Persero PT, 3.75%, 02/11/2030<SUP>(a)(c)(e)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,577,264</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">20,000,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Lembaga
    Pembiayaan Ekspor Indonesia, 8.45%, 07/09/2022</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,393,116</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,339</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">LLPL
    Capital Pte Ltd., 6.88%, 02/04/2039<SUP>(a)(f)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,189,613</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,565</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Medco
    Oak Tree Pte Ltd., 7.38%, 05/14/2023<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,521,632</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,959</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Perusahaan
    Penerbit SBSN Indonesia III, 4.33%, 05/28/2025<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,003,078</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,129</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Perusahaan
    Perseroan Persero PT Perusahaan Listrik Negara, 6.15%, 05/21/2048<SUP>(a)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,143,925</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">12,000,000</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Perusahaan
    Perseroan Persero PT Perusahaan Listrik Negara, 8.25%, 07/05/2023</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">858,971</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,181</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Tower
    Bersama Infrastructure Tbk PT, 2.75%, 12/20/2025<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,801,272</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">44,324,259</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="7" STYLE="background-color: rgb(241,241,242); font: bold 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-left: 0.15in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">JAPAN&mdash;0.5%</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,850</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Nissan
    Motor Co. Ltd., 4.81%, 06/17/2030<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,544,732</FONT></TD><TD STYLE="background-color: rgb(241,241,242); border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc</FONT>.</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>13</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Statement of Investments </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; padding-left: 0.3in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Principal<BR>
    Amount<BR> (000) or Shares</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Description</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Value<BR>
    (US$)</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 0.15in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CORPORATE
    BONDS (continued)</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">KAZAKHSTAN&mdash;0.6%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; width: 4%; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">KZT</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,265,000</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; width: 1%; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; width: 71%; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Development
    Bank of Kazakhstan JSC, 10.95%, 05/06/2026<SUP>(a)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; width: 1%; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; width: 1%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,155,818</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,155,818</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">KUWAIT&mdash;0.8%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,759</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MEGlobal
    Canada ULC, 5.00%, 05/18/2025<SUP>(a)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,881,554</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MACAO&mdash;0.3%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,500</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MGM
    China Holdings Ltd., 5.88%, 05/15/2022<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,088,750</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MALAYSIA&mdash;2.0%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CIMB
    Group Holdings Bhd, 4.95%, 03/29/2023<SUP>(c)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,177,152</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">DRB-Hicom
    Bhd, 5.10%, 12/12/2029</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,078,990</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Malayan
    Banking Bhd, (fixed rate to 09/25/2024, variable rate thereafter), 4.08%, 09/25/2024<SUP>(b)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,156,495</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Pengerang
    LNG Two Sdn Bhd, 2.86%, 10/20/2028</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,042,116</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Pengerang
    LNG Two Sdn Bhd, 2.92%, 10/19/2029</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,023,969</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Petroleum
    Sarawak Exploration &amp; Production Sdn Bhd, 4.10%, 03/19/2031</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,188,629</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,600</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Petronas
    Capital Ltd., 3.50%, 01/21/2030<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,501,507</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Press
    Metal Aluminium Holdings Bhd, 4.00%, 08/15/2025</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,138,211</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,000</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">TNB
    Global Ventures Capital Bhd, 3.24%, 10/19/2026<SUP>(a)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,788,740</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">18,095,809</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MEXICO&mdash;0.7%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MXN</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">145,000</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Petroleos
    Mexicanos, 7.19%, 09/12/2024<SUP>(a)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,601,083</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">NORWAY&mdash;0.6%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,000</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Kommunalbanken
    AS, 4.50%, 04/17/2023<SUP>(a)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,051,578</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,051,578</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">OMAN&mdash;0.7%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,950</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">OQ
    SAOC, 5.13%, 05/06/2028<SUP>(a)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,750,187</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">PAKISTAN&mdash;0.7%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,245</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Pakistan
    Global Sukuk Programme Co.Ltd. (The), 7.95%, 01/31/2029<SUP>(a)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,932,750</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,932,750</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">PHILIPPINES&mdash;5.3%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,800</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AC
    Energy Finance International Ltd., 5.10%, 11/25/2025<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,621,500</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,097</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Globe
    Telecom, Inc., (Fixed rate to 08/02/2026, variable rate thereafter), 4.20%, 08/02/2026<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,935,279</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">ICTSI
    Treasury BV, 5.88%, 09/17/2025<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,433,491</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Manila
    Water Co., Inc., 4.38%, 07/30/2025<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,318,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">13,086</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Megaworld
    Corp., 4.25%, 04/17/2023<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">13,092,543</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,000</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Royal
    Capital BV, (fixed rate to 05/05/2024, variable rate thereafter), 4.88%, 05/05/2024<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,965,000</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">48,365,813</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">SAUDI
    ARABIA&mdash;1.1%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Dar
    Al-Arkan Sukuk Co. Ltd., 6.88%, 03/21/2023<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,122,500</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: top; font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,976</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Saudi
    Electricity Global Sukuk Co. 3, 5.50%, 04/08/2044<SUP>(a)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,118,277</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,240,777</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">SINGAPORE&mdash;2.9%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,300</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">DBS
    Group Holdings Ltd., (fixed rate to 02/27/2025, variable rate thereafter), 3.30%, 02/27/2025<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,147,436</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,400</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">DBS
    Group Holdings Ltd., (fixed rate to 12/11/2023, variable rate thereafter), 4.52%, 12/11/2023<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,432,953</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><B>14<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></B></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in; text-align: right">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Statement of Investments </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; padding-left: 0.3in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Principal<BR>
    Amount<BR> (000) or Shares</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Description</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Value<BR>
    (US$)</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-top: 5pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 5pt; padding-left: 0.15in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CORPORATE
    BONDS (continued)</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">SINGAPORE
    (continued)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 4%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,538</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 1%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 71%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">GLP
    Pte Ltd. (fixed rate to 05/17/2026, variable rate thereafter), 4.50%, 05/17/2026<SUP>(b)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 1%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,038,820</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 1%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,800</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Parkway
    Pantai Ltd., (fixed rate to 07/27/2022, variable rate thereafter), 4.25%, 07/27/2022<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,739,200</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,682</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Singapore
    Airlines Ltd., 3.00%, 06/20/2026<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,502,057</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,687</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Singapore
    Airlines Ltd., 3.38%, 11/19/2028<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,556,527</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,000</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Vena
    Energy Capital Pte Ltd., 3.13%, 02/26/2025<SUP>(a)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,736,822</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">26,153,815</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">SOUTH
    KOREA&mdash;3.0%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,400</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Busan
    Bank Co. Ltd., 3.63%, 07/25/2026<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,065,826</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,300</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Hanwha
    Total Petrochemical Co. Ltd., 3.88%, 01/23/2024<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,314,554</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Kookmin
    Bank, 2.50%, 11/04/2030<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,712,162</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,900</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Shinhan
    Bank Co. Ltd., 4.50%, 03/26/2028<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,928,677</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,071</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">SK
    Hynix, Inc., 2.38%, 01/19/2031<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,720,898</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,650</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Tongyang
    Life Insurance Co. Ltd. (fixed rate to 09/22/2025 variable rate thereafter), 5.25%, 09/22/2025<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,631,750</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">27,373,867</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">TAIWAN&mdash;0.2%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,191</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">TSMC
    Arizona Corp., 2.50%, 07/25/2031<SUP>(c)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,903,343</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,903,343</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">THAILAND&mdash;3.4%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,200</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Bangkok
    Bank PCL, 9.03%, 03/15/2029<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,467,139</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,900</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Bangkok
    Bank PCL, (fixed rate to 09/25/2029, variable rate thereafter), 3.73%, 09/25/2029<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,285,900</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,209</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">GC
    Treasury Center Co. Ltd., 4.40%, 09/30/2031<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,005,544</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Krung
    Thai Bank PCL, (fixed rate to 03/25/2026, variable rate thereafter), 4.40%, 03/25/2026<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,475,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,800</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Minor
    International PCL, (fixed rate to 06/29/2023, variable rate thereafter), 3.10%, 06/29/2023<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,735,374</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,342</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">PTTEP
    Treasury Center Co. Ltd., 3.90%, 12/06/2059<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,837,086</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,800</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">TMB
    Bank PCL, (fixed rate to 12/02/2024, variable rate thereafter), 4.90%, 12/02/2024<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,674,648</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">30,480,691</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">UNITED
    ARAB EMIRATES&mdash;3.2%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,700</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">DP
    World PLC, 6.85%, 07/02/2037<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,064,500</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,100</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Esic
    Sukuk Ltd., 3.94%, 07/30/2024<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,985,406</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,237</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Galaxy
    Pipeline Assets Bidco Ltd., 2.63%, 03/31/2036<SUP>(a)(f)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,050,473</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,500</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MAF
    Global Securities Ltd., (fixed rate to 03/20/2026, variable rate thereafter), 6.38%, 03/20/2026<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,565,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,400</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Tabreed
    Sukuk Spc Ltd., 5.50%, 10/31/2025<SUP>(a)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,721,485</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">29,386,864</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">UNITED
    KINGDOM&mdash;4.4%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,760</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">HSBC
    Holdings PLC, (fixed rate to 03/23/2023, variable rate thereafter), 6.25%, 03/23/2023<SUP>(b)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,736,340</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">15,500</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Hutchison
    Whampoa Finance CI Ltd., 7.50%, 08/01/2027<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">18,315,962</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,999</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Standard
    Chartered PLC, 3.95%, 01/11/2023<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,029,688</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,000</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Standard
    Chartered PLC, 4.05%, 04/12/2026<SUP>(a)</SUP></FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,934,700</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,759</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Standard
    Chartered PLC, (fixed rate to 04/02/2023, variable rate thereafter), 7.75%, 04/02/2023<SUP>(a)(b)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,828,720</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">39,845,410</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; padding-left: 0.15in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">UNITED
    STATES&mdash;0.7%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-top: 2pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,600</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Hyundai
    Capital America, 6.38%, 01/08/2030<SUP>(a)(c)</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,136,245</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); font: 9pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,136,245</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc</FONT>.</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in; text-align: right"><B>15</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Statement of Investments </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222); padding-left: 0.25in; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Principal<BR>
Amount<BR>
(000) or Shares</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222); vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Description</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222)">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222); vertical-align: bottom; padding-right: 0.7pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Value<BR>
(US$)</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="9" STYLE="background-color: rgb(236,236,237); padding-left: 0.125in; padding-top: 3pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>CORPORATE BONDS (continued)</B></FONT></TD>
    </TR>
  <TR>
    <TD COLSPAN="3" STYLE="background-color: rgb(236,236,237); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>VIETNAM&mdash;0.4%</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; width: 4%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,310</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; width: 71%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Mong Duong Finance Holdings BV, 5.13%, 05/07/2023<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,846,675</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>3,846,675</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total Corporate Bonds&mdash;81.5% (cost $824,392,153)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>738,761,253</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>GOVERNMENT BONDS&mdash;63.5%</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="3" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>ANGOLA&mdash;1.3%</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Angolan Government International Bond, 9.50%, 11/12/2025<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,685,080</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="3" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>AUSTRALIA&mdash;8.8%</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,300</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Australia Government Bond, 2.75%, 11/21/2029<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,592,502</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">54,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Australia Government Bond, 3.25%, 06/21/2039<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">37,604,429</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">13,500</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">New South Wales Treasury Corp., 3.00%, 02/20/2030<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,276,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,500</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">New South Wales Treasury Corp., 4.00%, 05/20/2026<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,479,121</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">300</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Queensland Treasury Corp., 3.50%, 08/21/2030<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">212,971</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">22,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Queensland Treasury Corp., 4.25%, 07/21/2023<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">15,925,520</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">13,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Treasury Corp. of Victoria, 6.00%, 10/17/2022</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,396,868</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>79,487,411</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="3" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>BRAZIL&mdash;2.7%</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">BRL</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">103,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Brazil Notas do Tesouro Nacional, 10.00%, 01/01/2029</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">18,873,118</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">BRL</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">31,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Brazil Notas do Tesouro Nacional Series F, 10.00%, 01/01/2027</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,827,993</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>24,701,111</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="3" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>CHINA&mdash;8.6%</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">40,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China Government Bond, 2.36%, 07/02/2023<SUP>(g)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,084,048</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">130,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China Government Bond, 2.68%, 05/21/2030<SUP>(g)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">19,422,635</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">30,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China Government Bond, 3.02%, 10/22/2025<SUP>(g)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,629,176</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">60,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China Government Bond, 3.02%, 05/27/2031<SUP>(g)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,195,294</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNY</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">250,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">China Government Bond, 3.27%, 11/19/2030<SUP>(g)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">39,148,116</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>78,479,269</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="3" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>INDIA&mdash;6.2%</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">500,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">India Government Bond, 6.19%, 09/16/2034</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,942,447</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">735,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">India Government Bond, 6.79%, 05/15/2027</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,589,110</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">550,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">India Government Bond, 7.17%, 01/08/2028</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,239,199</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,340,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">India Government Bond, 7.26%, 01/14/2029</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">17,650,469</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">880,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">India Government Bond, 7.72%, 05/25/2025</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,956,281</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">300,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">India Government Bond, 8.15%, 11/24/2026</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,126,631</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,590</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">India Government Bond, 9.20%, 09/30/2030</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">140,736</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>

<TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; background-color: rgb(236,236,237); border-bottom: Black 1.5pt solid; vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>56,644,873</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="3" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>INDONESIA&mdash;14.6%</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,314</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia Government International Bond, 5.35%, 02/11/2049</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,542,646</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia Government International Bond, 7.75%, 01/17/2038<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,609,514</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,880</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia Government International Bond, 8.50%, 10/12/2035<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">13,247,331</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">271,570,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia Treasury Bond, 6.13%, 05/15/2028</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">18,189,522</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">21,000,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia Treasury Bond, 6.50%, 02/15/2031</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,396,427</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">44,000,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia Treasury Bond, 7.50%, 04/15/2040</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,095,813</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">629,200,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia Treasury Bond, 8.13%, 05/15/2024</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">45,553,868</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">98,500,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia Treasury Bond, 8.38%, 04/15/2039</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,473,363</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">300,000,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia Treasury Bond, 8.75%, 05/15/2031</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">22,884,234</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>16</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
                                            Asia-Pacific Income Fund, Inc.</FONT></TD>
</TR></TABLE>





<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Statement of Investments </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222); padding-left: 0.25in; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Principal<BR>
Amount<BR>
(000) or Shares</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Description</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="background-color: rgb(220,220,222); border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Value<BR>
(US$)</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>GOVERNMENT BONDS (continued)</B></FONT></TD>
    </TR>
  <TR>
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>INDONESIA (continued)</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 4%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">30,000,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 71%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia Treasury Bond, 9.00%, 03/15/2029</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,306,760</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">16,000,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Indonesia Treasury Bond, 9.50%, 07/15/2031</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,279,484</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,770</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Perusahaan Penerbit SBSN Indonesia III, 4.15%, 03/29/2027<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,819,048</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>132,398,010</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>IRAQ&mdash;0.9%</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,750</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Iraq International Bond, 5.80%, 06/13/2022<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,619,725</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,500</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Iraq International Bond, 6.75%, 03/09/2023<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,496,400</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>8,116,125</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>MALAYSIA&mdash;7.4%</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">46,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Malaysia Government Bond, 2.63%, 04/15/2031</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,096,673</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">109,600</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Malaysia Government Bond, 3.48%, 06/14/2024</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">25,173,457</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">17,500</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Malaysia Government Bond, 3.73%, 06/15/2028</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,885,293</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,793</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Malaysia Government Bond, 3.76%, 05/22/2040</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,924,991</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">48,300</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Malaysia Government Bond, 3.90%, 11/16/2027</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,896,460</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">20,500</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Malaysia Government Bond, 4.18%, 07/15/2024</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,777,855</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,034</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Malaysia Government Bond, 4.25%, 05/31/2035</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">864,865</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">30,500</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Malaysia Government Bond, 4.92%, 07/06/2048</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,844,536</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">18,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Malaysia Government Investment Issue, 3.45%, 07/15/2036</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,523,049</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>66,987,179</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>MALDIVES&mdash;0.2%</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,200</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Maldives Sukuk Issuance Ltd., 9.88%, 04/08/2026<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,146,309</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>2,146,309</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>MEXICO&mdash;2.5%</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MXN</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">469,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Mexican Bonos, 8.50%, 05/31/2029</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">22,289,480</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>22,289,480</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>NIGERIA&mdash;1.4%</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">14,100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Nigeria Government International Bond, 8.75%, 01/21/2031<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">12,737,376</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="9" STYLE="background-color: rgb(236,236,237); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>OMAN&mdash;0.7%</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,120</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Oman Government International Bond, 7.38%, 10/28/2032<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,734,999</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>6,734,999</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>PAKISTAN&mdash;3.1%</B></FONT></TD>
    </TR>

<TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">18,129</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Pakistan Government International Bond, 6.88%, 12/05/2027<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">14,795,294</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,355</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Pakistan Government International Bond, 7.38%, 04/08/2031<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,805,202</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,495</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Pakistan Government International Bond, 8.25%, 04/15/2024<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,708,025</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,209</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Pakistan Government International Bond, 8.25%, 09/30/2025<SUP>(a)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,414,836</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>27,723,357</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>PHILIPPINES&mdash;0.3%</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,570</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Philippine Government International Bond, 4.20%, 03/29/2047</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,389,420</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>SOUTH KOREA&mdash;1.6%</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">KRW</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">23,700,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Korea Treasury Bond, 1.88%, 03/10/2051</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">14,267,365</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>SUPRANATIONAL&mdash;0.8%</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">International Bank for Reconstruction &amp; Development, 4.25%, 06/24/2025</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,269,065</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>17</B></FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>






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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Statement of Investments </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222); padding-left: 0.125in; vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Principal<BR>
Amount<BR>
(000) or Shares</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222); vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Description</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222)">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; background-color: rgb(220,220,222); vertical-align: bottom; padding-right: 0.7pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Value<BR>
(US$)</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>GOVERNMENT BONDS (continued)</B></FONT></TD>
    </TR>
  <TR>
    <TD COLSPAN="3" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>UKRAINE&mdash;0.8%</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 4%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">UAH</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">210,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 71%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Ukraine Government Bond, 15.84%, 02/26/2025<SUP>(i)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,593,042</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,600</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Ukraine Government International Bond, 7.38%, 09/25/2032<SUP>(a)(f)(i)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,339,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>6,932,042</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="3" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>URUGUAY&mdash;1.6%</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">UYU</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">674,025</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Uruguay Government International Bond, 8.25%, 05/21/2031</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">14,725,198</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>14,725,198</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total Government Bonds&mdash;63.5% (cost $651,075,599)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>575,713,669</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>SHORT-TERM INVESTMENT&mdash;3.1%</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="9" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>UNITED STATES&mdash;3.1%</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">28,385,213</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.29%<SUP>(h)</SUP></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">28,385,213</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>28,385,213</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total Short-Term Investment&mdash;3.1% (cost $28,385,213)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>28,385,213</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-bottom: 4.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt; padding-bottom: 4.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt; padding-bottom: 4.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total Investments&mdash;148.1% (cost $1,503,852,965)<SUP>(j)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt; padding-bottom: 4.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>1,342,860,135</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt; padding-bottom: 4.5pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="text-align: left; background-color: rgb(236,236,237); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Long Term Debt Securities</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(420,000,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="text-align: left; background-color: rgb(236,236,237); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Mandatory Redeemable Preferred Stock at Liquidation Value</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(50,000,000</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="text-align: left; background-color: rgb(236,236,237); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Other Assets in Excess of Liabilities&mdash;3.7%</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">33,694,238</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: left; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net Assets&mdash;100.0%</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>906,554,373</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 4pt; padding-right: 0.7pt">&nbsp;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">AUD&mdash;Australian Dollar</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">BRL&mdash;Brazilian Real</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">CNH&mdash;Chinese Yuan Renminbi Offshore</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">CNY&mdash;Chinese Yuan Renminbi</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">IDR&mdash;Indonesian Rupiah</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">INR&mdash;Indian Rupee</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">KRW&mdash;South Korean Won</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">KZT&mdash;Kazakhstan tenge</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">MXN&mdash;Mexican Peso</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">MYR&mdash;Malaysian Ringgit</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">PHP&mdash;Philippine Peso</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">SGD&mdash;Singapore Dollar</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">THB&mdash;Thai Baht</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">UAH&mdash;Ukraine hryvna</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">USD&mdash;U.S. Dollar</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">UYU&mdash;Uruguayan Peso</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">Denotes a restricted security.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(b)</TD><TD STYLE="text-align: justify">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.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(c)</TD><TD STYLE="text-align: justify">The maturity date presented for these instruments represents
the next call/put date.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(d)</TD><TD STYLE="text-align: justify">Security is in default.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(e)</TD><TD STYLE="text-align: justify">This security is government guaranteed.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(f)</TD><TD STYLE="text-align: justify">Sinkable security.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(g)</TD><TD STYLE="text-align: justify">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.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(h)</TD><TD STYLE="text-align: justify">Registered investment company advised by State Street Global
Advisors. The rate shown is the 7 day yield as of April 30, 2022.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(i)</TD><TD STYLE="text-align: justify">Illiquid security.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(j)</TD><TD STYLE="text-align: justify">See accompanying Notes to Financial Statements for tax unrealized
appreciation/(depreciation) of securities.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>18</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
                                            Asia-Pacific Income Fund, Inc.</FONT></TD>
</TR></TABLE>





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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Statement of Investments </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">At April 30, 2022, the Company held the following futures contracts:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-left: 5pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Futures
    Contracts</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Number
    of<BR>
    Contracts<BR>
    Long/(Short)</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Expiration<BR>
    Date</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Notional<BR>
    Amount</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Market<BR>
    Value</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Unrealized<BR>
    Appreciation/<BR>
    (Depreciation)</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="14" STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 1pt; background-color: rgb(241,241,242); padding-left: 5pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Long
    Contract Positions</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); padding-left: 5pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">United
    States Treasury Note 6%&ndash;10 year</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">44</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/21/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,579,131</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,242,875</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(336,257</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); padding-left: 5pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">United
    States Treasury Note 6%&ndash;Ultra Bond</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">270</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/21/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">49,914,873</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">43,318,125</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(6,596,748</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 5pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">United
    States Treasury Note 6%&ndash;5 year</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">114</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/30/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">13,455,730</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">12,844,594</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(611,136</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 5pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>(7,544,141</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>)&nbsp;</B></FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="14" STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 1pt; background-color: rgb(241,241,242); padding-left: 5pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Short
    Contract Positions</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 5pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">United
    States Treasury Note 6%&ndash;10 year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(998</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/21/2022</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(126,892,531</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(118,917,938</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,974,594</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 5pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;$</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>7,974,594</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="padding-left: 5pt; font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>430,453</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">At April 30, 2022, the Fund's open forward foreign currency exchange
contracts were as follows:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%"><TR><TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Purchase
    Contracts<BR>
    Settlement Date*</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Counterparty</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Amount<BR>
    Purchased</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Amount<BR>
    Sold</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Fair
    Value</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Unrealized<BR>
    Depreciation</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Chinese
    Yuan Renminbi Offshore/United States Dollar</B></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom; width: 18%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/10/2022</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 22%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank
    N.A.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 4%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNH</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 12%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">450,000,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 4%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">70,734,987</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">67,573,724</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(3,161,263</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)&nbsp;</FONT></TD></TR>

<TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Indian
    Rupee/United States Dollar</B></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/30/2022</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank
    N.A.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">INR</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">611,126,584</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">8,022,855</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,939,553</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(83,302</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)&nbsp;</FONT></TD></TR>

<TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Indonesian
    Rupiah/United States Dollar</B></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/12/2022</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank
    N.A.</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">53,436,817,036</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,693,271</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,685,015</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(8,256</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/12/2022</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">UBS
    AG</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">140,551,284,430</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,778,256</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,692,447</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(85,809</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD></TR>

<TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Philippine
    Peso/United States Dollar</B></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/16/2022</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank
    N.A.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">PHP</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,102,492,653</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">21,362,825</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">21,018,030</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(344,795</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)&nbsp;</FONT></TD></TR>

<TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Singapore
    Dollar/United States Dollar</B></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/15/2022</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank
    N.A.</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">SGD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,367,877</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,641,081</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,496,730</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(144,351</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/15/2022</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Royal
    Bank of Canada</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">SGD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">104,839,846</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">76,769,360</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">75,806,847</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(962,513</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD></TR>

<TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>South
    Korean Won/United States Dollar</B></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/23/2022</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank
    N.A.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">KRW</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">82,932,404,842</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">69,531,582</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">65,674,988</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(3,856,594</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)&nbsp;</FONT></TD></TR>

<TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Thai
    Baht/United States Dollar</B></FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/10/2022</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank
    N.A.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">THB</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,829,595,699</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">85,299,055</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">82,660,457</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(2,638,598</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>341,547,791</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(11,285,481</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><B>)</B></TD></TR></TABLE>


<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>




<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Sale
    Contracts<BR>
    Settlement Date*</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Counterparty</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Amount<BR>
    Purchased</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Amount<BR>
    Sold</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Fair
    Value</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Unrealized<BR>
    Appreciation/ (Depreciation)</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>United
    States Dollar/Australian Dollar</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom; width: 18%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/24/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 22%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">UBS
    AG</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 4%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 12%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">8,694,434</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 4%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">AUD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,700,000</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">8,274,182</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">420,252</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>

<TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>United
    States Dollar/Chinese Yuan Renminbi Offshore</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/10/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">BNP
    Paribas S.A.</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,735,662</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNH</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,626,546</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,745,887</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(10,225</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/10/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank
    N.A.</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">48,217,293</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNH</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">306,747,522</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">46,062,383</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,154,910</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/10/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Standard
    Chartered Bank</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,706,013</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">CNH</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">17,352,686</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,605,746</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">100,267</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font: 9pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="text-align: right; font: 9pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>19</B></FONT></TD></TR>
  </TABLE>


<P STYLE="text-align: right; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Statement of Investments </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(concluded)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Sale
    Contracts<BR>
    Settlement Date*</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Counterparty</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Amount<BR>
    Purchased</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Amount<BR>
    Sold</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Fair
    Value</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Unrealized<BR>
    Appreciation/ (Depreciation</B></FONT><B>)</B></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>United
    States Dollar/Indonesian Rupiah</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom; width: 18%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/12/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 25%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank
    N.A.</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 4%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 9%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,274,053</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 4%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">75,829,803,710</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,229,240</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">44,813</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/12/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">HSBC
    Bank PLC</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,077,617</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">29,803,072,978</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,055,226</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">22,391</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/12/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">UBS
    AG</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">36,336,586</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">IDR</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;522,297,000,000</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">36,017,715</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">318,871</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>

<TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>United
    States Dollar/Malaysian Ringgit</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/10/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">BNP
    Paribas S.A.</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">41,148,153</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">MYR</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">172,842,815</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">39,699,952</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,448,201</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>

<TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>United
    States Dollar/Philippine Peso</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/16/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank
    N.A.</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,722,262</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">PHP</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">604,962,500</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,533,065</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">189,197</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/16/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">UBS
    AG</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,073,932</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">PHP</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">210,102,012</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,005,406</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">68,526</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>

<TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>United
    States Dollar/Singapore Dollar</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/15/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Standard
    Chartered Bank</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,790,379</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">SGD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,442,913</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,766,404</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">23,975</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>

<TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-top: 2pt; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>United
    States Dollar/South Korean Won</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/23/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank
    N.A.</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,349,946</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">KRW</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,920,655,025</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,312,895</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">37,051</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>

<TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="15" STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>United
    States Dollar/Thai Baht</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/10/2022</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">HSBC
    Bank PLC</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,734,253</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">THB</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">59,003,611</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,723,662</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,591</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>163,031,763</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>4,828,820</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD COLSPAN="8" STYLE="border-bottom: Black 1.5pt solid; padding-left: 4pt; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total
    unrealized appreciation on open forward foreign currency exchange contracts</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>4,839,045</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD COLSPAN="8" STYLE="border-bottom: Black 1.5pt solid; padding-left: 4pt; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total
    unrealized depreciation on open forward foreign currency exchange contracts</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>(11,295,706</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>)</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Certain contracts with different trade dates and like characteristics
have been shown net.</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">At April 30, 2022, the Fund held the following centrally cleared interest
rate swaps:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Currency</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Notional<BR>
    Amount</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: right; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Expiration<BR>
    Date</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></B></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Counterparty</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Receive<BR>
    (Pay) <BR>
    Floating<BR>
    Rate</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Floating
    Rate<BR>
    Index</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Fixed<BR>
    Rate</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Premiums<BR>
    Paid<BR>
    (Received)</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Unrealized<BR>
    Appreciation/<BR>
    (Depreciation)</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Value</B></FONT></TD>
    </TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom; width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom; width: 9%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,000,000</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); width: 8%; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">12/03/2026</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right; width: 2%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom; width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; white-space: nowrap; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3-month
    LIBOR</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right; width: 6%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.33%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; width: 7%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; width: 4%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; width: 7%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; width: 4%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">667,258</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; width: 6%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; width: 5%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">667,258</FONT></TD>
    </TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,000,000</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;02/12/2027</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3-month
    LIBOR</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.75%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">601,821</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">601,821</FONT></TD>
    </TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;9,000,000</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">09/21/2028</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3-month
    LIBOR</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.17%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">951,430</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">951,430</FONT></TD>
    </TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">15,000,000</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/06/2030</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3-month
    LIBOR</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.62%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(7,116</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,510,072</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,502,956</FONT></TD>
    </TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,000,000</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">05/11/2030</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3-month
    LIBOR</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.67%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">818,058</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">818,058</FONT></TD>
    </TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">USD</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">25,000,000</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">06/02/2031</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Receive</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3-month
    LIBOR</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.72%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,460,815</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,460,815</FONT></TD>
    </TR>
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); padding-left: 4pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; text-align: right; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>(7,116</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>)</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>10,009,454</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>10,002,338</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>




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<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">See accompanying
Notes to Financial Statements.</FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>20</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
                                            Asia-Pacific Income Fund, Inc.</FONT></TD>
</TR></TABLE>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Statement of Assets and Liabilities </FONT><FONT STYLE="font-size: 11pt">(unaudited)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">As of April 30, 2022</P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="4" STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Assets</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 5pt 2pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom; width: 86%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Investments,
    at value (cost $1,503,852,965)</FONT></TD>
    <TD STYLE="padding: 5pt 2pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,342,860,135</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Foreign
    currency, at value (cost $15,739,127)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">15,534,316</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Cash
    at broker for futures contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,019,178</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Cash
    at broker for interest rate swaps</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,302,198</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Cash</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">301,882</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Cash
    at broker for forward foreign currency contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,090,000</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Interest
    receivable</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">22,963,378</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Variation
    margin receivable for futures contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,974,594</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Unrealized
    appreciation on forward foreign currency exchange contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,839,045</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Variation
    margin receivable for centrally cleared swaps</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">234,344</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; text-indent: -0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Prepaid
    expenses in connection with revolving credit facility, senior secured notes, term loans and Series A Mandatory Redeemable Preferred
    Shares</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,894,644</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Prepaid
    expenses and other assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,613</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total
    assets</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>1,409,018,327</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 5pt 2pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Liabilities</B></FONT></TD>
    <TD STYLE="padding: 5pt 2pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding: 5pt 2pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding: 5pt 2pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Senior
    secured notes payable (Note 8)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">350,000,000</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Revolving
    credit facility payable (Note 9)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">70,000,000</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Series
    A Mandatory Redeemable Preferred Shares ($25.00 liquidation value per share; 2,000,000 shares outstanding) (Note 7)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">50,000,000</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Unrealized
    depreciation on forward foreign currency exchange contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,295,706</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Variation
    margin payable for futures contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,544,141</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Payable
    for investments purchased</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,850,000</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Interest
    payable on revolving credit facility, senior secured notes and term loans</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,592,067</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Investment
    management fees payable (Note 3)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">776,042</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Dividend
    payable on Series A Mandatory Redeemable Preferred Shares</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">223,438</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Deferred
    foreign capital gains tax</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">171,891</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Administration
    fees payable (Note 3)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">164,085</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Investor
    relations fees payable (Note 3)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">82,842</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Director
    fees payable</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">62,953</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Other
    accrued expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">700,789</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total
    liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>502,463,954</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net
    Assets Applicable to Common Shareholders</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>906,554,373</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 5pt 2pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Composition
    of Net Assets</B></FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Common
    stock (par value $0.01 per share) (Note 5)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,476,958</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Paid-in
    capital in excess of par</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,148,365,409</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Distributable
    accumulated loss</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(244,287,994</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net
    Assets Applicable to Common Shareholders</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>906,554,373</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    asset value per share based on 247,695,769 shares issued and outstanding</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.66</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>

</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">See Notes to Financial Statements.</FONT></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc</FONT>.</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>21</B></FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0">&nbsp;</P>

</DIV>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<DIV STYLE="background-color: rgb(221,221,222)"><P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 18pt">Statement
of Operations</FONT> <FONT STYLE="font-size: 11pt">(unaudited)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">For the Six-Month Period Ended April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="4" STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net
    Investment Income:</B></FONT></TD>
    </TR>
  <TR>
    <TD COLSPAN="4" STYLE="padding: 5pt 2pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Income</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; width: 88%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Interest
    and amortization of discount and premium and other income (net of foreign withholding taxes of $752,122)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right; width: 2%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right; width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">38,257,231</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 2pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Total
    Investment Income</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 2pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">38,257,231</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 5pt 2pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Expenses:</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5pt 2pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Investment
    management fee (Note 3)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,161,083</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Administration
    fee (Note 3)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">876,847</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Custodian's
    fees and expenses</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">396,832</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Revolving
    credit facility, senior secured notes, term loans and Series A Mandatory Redeemable Preferred Shares fees and expenses</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">312,963</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Investor
    relations fees and expenses (Note 3)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">128,796</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Directors'
    fees and expenses</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">122,627</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Reports
    to shareholders and proxy solicitation</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">107,637</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Legal
    fees and expenses</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">70,435</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Insurance
    expense</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">59,799</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Transfer
    agent's fees and expenses</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">58,917</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Independent
    auditors' fees and expenses</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">46,399</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Miscellaneous</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">48,004</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Total
    operating expenses, excluding interest expense</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,390,339</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Interest
    expense (Notes 8 &amp; 9)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,241,541</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Distributions
    to Series A Mandatory Redeemable Preferred Shares (Note 7)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,036,980</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    operating expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">14,668,860</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    investment income applicable to common shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">23,588,371</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 5pt 2pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net
    Realized/Unrealized Gain/(Loss) from Investments and Foreign Currency Related Transactions:</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5pt 2pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 3pt 2pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net realized gain/(loss) from:</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 3pt 2pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Investment
    transactions (including $0 capital gains tax)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(21,752,970</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Futures
    contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,175,914</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Interest
    rate swaps</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,166,501</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Forward
    foreign currency exchange contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(1,274,046</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Foreign
    currency transactions</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(11,830,286</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(30,514,887</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 5pt 2pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net
    change in unrealized appreciation/(depreciation) on:</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5pt 2pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Investments
    (including $(425,145) change in deferred capital gains tax)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(118,301,849</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Interest
    rate swaps</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,735,109</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Futures
    contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(1,988,789</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Forward
    foreign currency exchange rate contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(6,082,715</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Foreign
    currency translation</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(10,395,024</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(131,033,268</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    (loss) from investments, interest rate swaps, futures contracts and foreign currencies</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(161,548,155</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 5pt 2pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net
    Decrease in Net Assets Applicable to Common Shareholders Resulting from Operations</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 5pt 2pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 5pt; padding-bottom: 1pt; padding-left: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>(137,959,784</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 5pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>)</B></FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">See Notes to Financial Statements.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><B>22</B></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<DIV STYLE="background-color: rgb(221,221,222)"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Statements of Changes in Net Assets</P>

<P STYLE="border-bottom: Black 1pt solid; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; white-space: nowrap; background-color: rgb(221,221,222); vertical-align: bottom"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 10pt 2pt 2pt; white-space: nowrap; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; white-space: nowrap; background-color: rgb(241,241,242); vertical-align: bottom; text-align: left"><P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>For the</B></FONT></P>
                                                                                <P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Six-Month</B></FONT></P>
                                                                                <P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Period Ended</B></FONT></P>
                                                                                <P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>April 30, 2022</B></FONT></P>
                                                                                <P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>(unaudited</B>)</FONT></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 10pt 2pt 2pt; white-space: nowrap; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>For
    the<BR>
    Year Ended<BR>
    October 31, 2021</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Increase/(Decrease)
    in Net Assets Applicable to Common Shareholders:</B></FONT></TD>
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5pt 2pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Operations:</B></FONT></TD>
    <TD STYLE="padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom; width: 80%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    investment income</FONT></TD>
    <TD STYLE="padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">23,588,371</FONT></TD>
    <TD STYLE="padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom; width: 1%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">43,706,112</FONT></TD>
    <TD STYLE="background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom; width: 1%">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    realized loss from investments, interest rate swaps and futures contracts</FONT></TD>
    <TD STYLE="padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(17,410,555</FONT></TD>
    <TD STYLE="padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(4,989,789</FONT></TD>
    <TD STYLE="background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    realized loss from foreign currency transactions</FONT></TD>
    <TD STYLE="padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(13,104,332</FONT></TD>
    <TD STYLE="padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(12,609,438</FONT></TD>
    <TD STYLE="background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    change in unrealized appreciation/(depreciation) on investments, interest rate swaps and futures contracts</FONT></TD>
    <TD STYLE="padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(114,555,529</FONT></TD>
    <TD STYLE="padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(36,216,275</FONT></TD>
    <TD STYLE="background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    change in unrealized appreciation/(depreciation) on foreign currency translation</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(16,477,739</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">25,385,949</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    increase/(decrease) in net assets applicable to common shareholders resulting from operations</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(137,959,784</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">15,276,559</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Distributions
    to Common Shareholders From:</B></FONT></TD>
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5pt 2pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Distributable
    earnings</FONT></TD>
    <TD STYLE="padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(40,869,813</FONT></TD>
    <TD STYLE="padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(43,575,028</FONT></TD>
    <TD STYLE="background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Tax
    return of capital</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(38,164,598</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    decrease in net assets applicable to common shareholders from distributions</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(40,869,813</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(81,739,626</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Change
    in net assets applicable to common shareholders resulting from operations</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(178,829,597</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(66,463,067</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net
    Assets Applicable to Common Shareholders:</B></FONT></TD>
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding: 5pt 2pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5pt 2pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 2pt 2pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Beginning
    of period</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,085,383,970</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,151,847,037</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 2pt 2pt 2pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>End
    of period</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>906,554,373</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 10pt; background-color: rgb(241,241,242); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; padding-left: 2pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>1,085,383,970</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(221,221,222); padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom">&nbsp;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Amounts listed as &quot;&ndash;&quot; are $0 or round to $0.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">See Notes to Financial Statements.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc</FONT>.</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>23</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<DIV STYLE="background-color: rgb(221,221,222)"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>







<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Statement of Cash Flows </FONT><FONT STYLE="font-size: 11pt">(unaudited)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">For the Six-Month Period Ended April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="4" STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt 1pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Cash
    Flows from Operating Activities</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 5pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom; width: 88%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    decrease in net assets resulting from operations</FONT></TD>
    <TD STYLE="padding: 5pt 2pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(137,959,784</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 2%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Adjustments
    to reconcile net decrease in net assets resulting from operations to net cash provided by operating activities:</FONT></TD>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Investments
    purchased</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(145,974,159</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Investments
    sold and principal repayments</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">204,416,368</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Increase
    in short-term investments, excluding foreign government securities</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(5,362,160</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    amortization/accretion of premium (discount)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">716,154</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Decrease
    in cash due to broker for forward foreign currency exchange contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(230,000</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Decrease
    in interest and dividends receivable</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,365,761</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    change unrealized (appreciation) depreciation on forward foreign currency exchange contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">6,082,715</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Decrease
    in prepaid expenses</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">263,796</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Increase
    in interest payable on bank loan</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">78</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Decrease
    in accrued investment management fees payable</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(115,823</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Increase
    in other accrued expenses</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">107,964</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Increase
    in variation margin payable for futures contracts</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,988,789</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    change in unrealized depreciation from investments</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">118,301,849</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    change in unrealized depreciation from foreign currency translations</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,395,024</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    realized loss on investment transactions</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">21,752,970</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    cash provided by operating activities</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">75,749,542</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 5pt 2pt 1pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Cash
    Flows from Financing Activities</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5pt 2pt 1pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Decrease
    in bank loan payable</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(30,000,000</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Distributions
    paid to shareholders</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(40,869,813</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    cash paid (received) for swap contracts</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(333,262</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    cash used in financing activities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(71,203,075</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Effect
    of exchange rate on cash</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(41,935</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    change in cash</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,504,532</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Unrestricted
    and restricted cash and foreign currency, beginning of period</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">23,743,042</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Unrestricted
    and restricted cash and foreign currency, end of period</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">28,247,574</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 5pt 2pt 1pt 1pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Supplemental
    disclosure of cash flow information:</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5pt 2pt 1pt 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Cash
    paid for interest and fees on borrowings:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,241,463</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(241,241,242); vertical-align: bottom">&nbsp;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><B>24</B></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in"></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

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<DIV STYLE="background-color: rgb(221,221,222)"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>







<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Statement of Cash Flows </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(concluded)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">For the Six-Month Period Ended April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Reconciliation of unrestricted and restricted cash to the statements
of assets and liabilities</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 10pt 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Six-Month
    <BR>
    Period Ended<BR>
    April 30, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 10pt 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Year
    Ended<BR>
    October 31, 2021</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom; width: 70%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Cash</FONT></TD>
    <TD STYLE="padding: 1pt 10pt 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 15%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301,882</FONT></TD>
    <TD STYLE="padding: 1pt 10pt 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; width: 15%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,570,685</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Foreign
    currency, at value</FONT></TD>
    <TD STYLE="padding: 1pt 10pt 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">15,534,316</FONT></TD>
    <TD STYLE="padding: 1pt 10pt 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,255,759</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Cash
    at broker for interest rate swaps</FONT></TD>
    <TD STYLE="padding: 1pt 10pt 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,302,198</FONT></TD>
    <TD STYLE="padding: 1pt 10pt 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,104,161</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Cash
    at broker for futures contracts</FONT></TD>
    <TD STYLE="padding: 1pt 10pt 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,019,178</FONT></TD>
    <TD STYLE="padding: 1pt 10pt 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,342,437</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Cash
    at broker for forward foreign currency contracts</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 10pt 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5,090,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 10pt 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">470,000</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(221,221,222); vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 10pt 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$&nbsp;&nbsp;28,247,574</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 1pt 10pt 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$&nbsp;&nbsp;23,743,042</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Amounts listed as &quot;&ndash;&quot; are $0 or round to $0.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">See Notes to Financial Statements.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc</FONT>.</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>25</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Financial Highlights</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="white-space: nowrap; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; padding-bottom: 3.5pt; padding-left: 0.25in; text-indent: -0.125in; background-color: rgb(220,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; background-color: rgb(220,221,222); vertical-align: bottom; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>For
    the <BR>
    Six-Month <BR>
    Period Ended<BR>
    April 30, 20</B></FONT><B>22</B></TD>
    <TD STYLE="white-space: nowrap; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; background-color: rgb(220,221,222); vertical-align: bottom; padding-right: 0.7pt; text-align: right"></TD>
    <TD STYLE="white-space: nowrap; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; background-color: rgb(220,221,222); vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>For
    the Fiscal Years Ended October 31,</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(220,221,222); vertical-align: bottom; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>(unaudited)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>2021</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>2020</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>2018</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>2017</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(220,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="19" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>PER
    SHARE OPERATING PERFORMANCE<SUP>(a)</SUP>:</B></FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom; width: 39%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    asset value per common share, beginning of period</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$4.38</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$4.65</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$4.88</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$4.59</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$5.43</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$5.69</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 1%; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    investment income</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.10</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.18</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.15</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.18</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.21</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.23</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 2pt; padding-left: 0.25in; text-indent: -0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    realized and unrealized gains/(losses) on investments, interest rate swaps, futures contracts and foreign currency transactions</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.65</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.12</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.05</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.48</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.64</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.07</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 3pt; padding-left: 0.25in; text-indent: -0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Total
    from investment operations applicable to common shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.55</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.06</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.66</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.43</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.16</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD COLSPAN="19" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Distributions
    to common shareholders from:</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    investment income</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.17</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.18</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.07</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.12</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.25</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.26</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    realized gains</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.01</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Tax
    return of capital</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.15</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.25</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.25</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.17</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.16</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Total
    distributions to shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.17</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.33</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.33</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.37</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.42</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(0.42</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="19" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Capital
    Share Transactions:</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Impact
    due to open market repurchase policy (Note 7)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.01</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Total
    capital share transactions</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.01</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; background-color: rgb(241,241,242); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    asset value per common share, end of period</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3.66</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$4.38</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$4.65</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$4.88</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$4.59</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$5.43</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Market
    value, end of period</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3.20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$4.22</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3.80</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$4.25</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3.93</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$5.03</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD COLSPAN="19" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total
    Investment Return Based on<SUP>(b)</SUP>:</B></FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Market
    value</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(20.63%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">19.87%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(2.82%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">18.12%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(14.29%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11.19%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    asset value</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(12.54%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.67%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.56%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">16.13%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(7.27%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.79%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>

<TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD COLSPAN="19" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-left: 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Ratio
    to Average Net Assets Applicable to Common Shareholders/Supplementary Data<SUP>(c)</SUP>:</B></FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 2pt; padding-left: 0.25in; text-indent: -0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    assets applicable to common shareholders, end of period (000 omitted)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$906,554</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,085,384</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,151,847</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,208,154</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,142,604</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,369,104</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 2pt; padding-left: 0.25in; text-indent: -0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Average
    net assets applicable to common shareholders (000 omitted)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,018,780</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,165,019</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,145,806</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,194,235</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,290,606</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,382,050</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    operating expenses</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.90%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>(d)</SUP></FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.57%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.87%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.84%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.67%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.42%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    operating expenses without reimbursement</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.90%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>(d)</SUP></FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.57%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.87%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.84%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.67%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.42%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 2pt; padding-left: 0.25in; text-indent: -0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    operating expenses, excluding interest expense and distributions to Series A Mandatory Redeemable Preferred Shares</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.26%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>(d)</SUP></FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.16%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.32%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.22%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.17%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.15%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net
    investment income</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.67%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>(d)</SUP></FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.75%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.29%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.68%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.14%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.17%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Portfolio
    turnover</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>(e)</SUP></FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">44%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">88%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">46%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">44%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">57%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Leverage
    (senior securities) outstanding (000 omitted)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$420,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$450,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$415,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$531,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$505,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$550,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Leverage
    (preferred stock) outstanding (000 omitted)</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$50,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$50,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$50,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$50,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$50,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$50,000</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 2pt; padding-left: 0.25in; text-indent: -0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Asset
    coverage ratio on long-term debt obligations at period end<SUP>(f)</SUP></FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">328%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">352%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">390%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">337%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">336%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">358%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 2pt; padding-left: 0.25in; text-indent: -0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Asset
    coverage per $1,000 on long-term debt obligations at period end</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3,278</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3,523</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3,896</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3,369</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3,362</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3,580</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif; background-color: #CCEEFF">
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Asset
    coverage ratio on total leverage at period end<SUP>(g)</SUP></FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">293%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">317%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">348%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">308%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">306%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">328%</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Asset
    coverage per share on total leverage at period end</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$2,929</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3,171</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3,477</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3,079</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3,059</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$3,282</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242); vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>26</B></FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc</FONT>.</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in; text-align: right">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>




<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Financial Highlights </FONT><FONT STYLE="font-size: 11pt">(concluded)</FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 1pt; width: 0in"></TD><TD STYLE="padding-bottom: 1pt; width: 0.25in; text-align: left">(a)</TD><TD STYLE="padding-bottom: 1pt; text-align: justify">Based on average shares outstanding.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 1pt; width: 0in"></TD><TD STYLE="padding-bottom: 1pt; width: 0.25in; text-align: left">(b)</TD><TD STYLE="padding-bottom: 1pt; text-align: justify">Total investment return based on market value is calculated
assuming that shares of the Fund's common stock were purchased at the closing market price as of the beginning of the period, dividends,
capital gains and other distributions were reinvested as provided for in the Fund's dividend reinvestment plan and then sold at the closing
market price per share on the last day of the period. The computation does not reflect any sales commission investors may incur in purchasing
or selling shares of the Fund. The total investment return based on the net asset value is similarly computed except that the Fund's
net asset value is substituted for the closing market value.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 1pt; width: 0in"></TD><TD STYLE="padding-bottom: 1pt; width: 0.25in; text-align: left">(c)</TD><TD STYLE="padding-bottom: 1pt; text-align: justify">Ratios calculated on the basis of income, expenses and preferred
share dividends applicable to both the common and preferred shares relative to the average net assets of common shareholders. For the
six months ended April 30, 2022 and the fiscal years ended October 31, 2021, 2020, 2019, 2018 and 2017, the ratios of net investment
income before preferred stock dividends to average net assets of common shareholders were 4.91%, 3.93%, 3.47%, 3.85%, 4.30% and 4.32%
respectively.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 1pt; width: 0in"></TD><TD STYLE="padding-bottom: 1pt; width: 0.25in; text-align: left">(d)</TD><TD STYLE="padding-bottom: 1pt; text-align: justify">Annualized.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 1pt; width: 0in"></TD><TD STYLE="padding-bottom: 1pt; width: 0.25in; text-align: left">(e)</TD><TD STYLE="padding-bottom: 1pt; text-align: justify">Not annualized.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 1pt; width: 0in"></TD><TD STYLE="padding-bottom: 1pt; width: 0.25in; text-align: left">(f)</TD><TD STYLE="padding-bottom: 1pt; text-align: justify">Asset coverage ratio is calculated by dividing net assets plus
the amount of any borrowings, including Series A Mandatory Redeemable Preferred Shares, for investment purposes by the amount of any
long-term debt obligations, which includes the senior secured notes and revolving credit facility.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-bottom: 1pt; width: 0in"></TD><TD STYLE="padding-bottom: 1pt; width: 0.25in; text-align: left">(g)</TD><TD STYLE="padding-bottom: 1pt; text-align: justify">Asset coverage ratio is calculated by dividing net assets plus
the amount of any borrowings for investment purposes by the amount of any borrowings.</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Amounts listed as &quot;&ndash;&quot; are $0 or round to $0.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">See Notes to Financial Statements.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc</FONT>.</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>27</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Notes to Financial Statements </FONT><FONT STYLE="font-size: 11pt">(unaudited)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 49%">

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>1. Organization</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Aberdeen Asia-Pacific Income Fund, Inc. (the &quot;Fund&quot;) was incorporated
in Maryland on March 14, 1986 as a closed-end, non-diversified management investment company. The Fund's principal investment objective
is to seek current income. The Fund may also achieve incidental capital appreciation. To achieve its investment objectives, the Fund normally
invests at least 80% of its total assets, plus the amount of any borrowings for investment purposes, in &quot;Asia-Pacific debt securities,&quot;
which include: (1) debt securities of Asia-Pacific Country issuers, including securities issued by Asia-Pacific Country governmental entities,
as well as by banks, companies and other entities which are located in Asia-Pacific Countries, whether or not denominated in an Asia-Pacific
Country currency; (2) debt securities of other issuers, denominated in, or linked to, the currency of an Asia-Pacific Country, including
securities issued by supranational issuers, such as The World Bank and derivative debt securities that replicate, or substitute for, the
currency of an Asia-Pacific Country; (3) debt securities issued by entities which, although not located in an Asia-Pacific Country, derive
at least 50% of their revenues from Asia-Pacific Countries or have at least 50% of their assets located in Asia-Pacific Countries; and
(4) debt securities issued by a wholly-owned subsidiary of an entity located in an Asia-Pacific Country, provided that the debt securities
are guaranteed by the parent entity located in the Asia-Pacific Country (the &quot;80% Policy&quot;). With reference to items (3) and
(4) above, Asia-Pacific debt securities may be denominated in an Asia-Pacific Country currency or U.S. dollars. &quot;Asia-Pacific Countries&quot;
(each, an &quot;Asia-Pacific Country&quot;) means countries included in &quot;Asia&quot; and &quot;Oceania&quot; in the United Nations
(&quot;UN&quot;) geographic regions used by the UN Statistics Division. The 80% Policy, which went into effect on June 24, 2020, is fundamental
and may not be changed without a vote of shareholders. There can be no assurance that the Fund will achieve its investment objectives.
The ability of issuers of debt securities held by the Fund to meet their obligations may be affected by economic developments in a specific
industry, country or region.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Prior to June 24, 2020, the Fund normally invested up to 80% of its total
assets, plus the amount of any borrowings for investment purposes, in Asian debt securities, Australian debt securities and New Zealand
debt securities (the &quot;prior 80% policy&quot;). Under the prior 80% policy &quot;Asian debt securities&quot; included: (1) debt securities
of Asian Country (as defined below) issuers, including securities issued by Asian Country governmental entities, as well as by banks,
companies and other entities which are located in Asian Countries, whether or not denominated in an Asian Country currency; (2) debt securities
of other issuers denominated in, or linked to, the currency of an Asian Country, including securities issued by supranational issuers,
such as The World Bank and derivative debt securities that replicate, or substitute for, the</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<DIV STYLE="float: right; width: 49%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">currency of an Asian Country; (3) debt securities issued by entities
which, although not located in an Asian Country, derive at least 50% of their revenues from Asian Countries or have at least 50% of their
assets located in Asian Countries; and (4) debt securities issued by a wholly-owned subsidiary of an entity located in an Asian Country,
provided that the debt securities are guaranteed by the parent entity located in the Asian Country. With reference to items (3) and (4)
above, Asian debt securities may be denominated in an Asian Country currency or in Australian, New Zealand or U.S. Dollars.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Additionally, prior to June 24, 2020, the maximum country exposure to
any one Asian Country (other than Korea) was limited to 20% of the Fund's total assets and the maximum currency exposure to any one Asian
Country currency (other than Korea) was limited to 10% of the Fund's total assets. Also, prior to June 24, 2020, the maximum country exposure
for Korea was limited to 40% of the Fund's total assets, and the maximum currency exposure for Korea was limited to 25% of the Fund's
total assets. Although the Fund eliminated these fundamental country limits, it replaced them with non-fundamental country limits. Effective
June 24, 2020, the maximum exposure to any one &quot;Investment Grade Country&quot; (other than the U.S.) is limited to 25% of the Fund's
total assets and the maximum exposure to any one &quot;Non-Investment Grade Country&quot; is limited to 15% of the Fund's total assets.
Investment Grade Countries are those countries whose sovereign debt is rated not less than Baa3 by Moody's Investors Service, Inc. (&quot;Moody's&quot;),
BBB- by S&amp;P Global Ratings (&quot;S&amp;P&quot;) or BBB- by Fitch or comparably rated by another appropriate nationally or internationally
recognized ratings agency. Non-Investment Grade Countries are those that are not Investment Grade Countries.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>2. Summary of Significant Accounting Policies</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund is an investment company and accordingly follows the investment
company accounting and reporting guidance of the Financial Accounting Standards Board (&quot;FASB&quot;) Accounting Standard Codification
Topic 946 Financial Services-Investment Companies.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">The
following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements. The policies
conform to generally accepted accounting principles (&quot;GAAP&quot;) in the United States of America. The preparation of financial
statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure
of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expenses for the
period. Actual results could differ from those estimates. The accounting records of the Fund are maintained in U.S. Dollars and the U.S.
Dollar is used as both the</FONT></P>

</DIV>



<DIV STYLE="clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><B>28</B></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc</FONT>.</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>



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<DIV STYLE="background-color: rgb(220,221,222); clear: both"> &nbsp;






<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Notes to Financial Statements </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 49%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">functional and reporting currency. However, the Australian Dollar is
the functional currency for U.S. federal tax purposes.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>a. Security Valuation:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund values its securities at current market value or fair value,
consistent with regulatory requirements. &quot;Fair value&quot; 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.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In accordance with the authoritative guidance on fair value measurements
and disclosures under GAAP, the Fund discloses the fair value of its investments using a three-level hierarchy that classifies the inputs
to valuation techniques used to measure the fair value. The hierarchy assigns Level 1, the highest level, measurements to valuations based
upon unadjusted quoted prices in active markets for identical assets, Level 2 measurements to valuations based upon other significant
observable inputs, including adjusted quoted prices in active markets for similar assets, and Level 3, the lowest level, measurements
to valuations based upon unobservable inputs that are significant to the valuation. Inputs refer broadly to the assumptions that market
participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular
valuation technique used to measure fair value including a pricing model and/or the risk inherent in the inputs to the valuation technique.
Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing
the asset or liability, which are based on market data obtained from sources independent of the reporting entity. Unobservable inputs
are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset
or liability developed based on the best information available in the circumstances. A financial instrument's level within the fair value
hierarchy is based upon the lowest level of any input that is significant to the fair value measurement.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">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 &quot;round lot&quot; size and the strategies employed by the Fund's investment manager generally
trade in round lot sizes. In certain circumstances, some trades may occur in smaller &quot;odd lot&quot; sizes which may be effected at
lower or higher prices than institutional round lot trades. Short-term debt securities (such as</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<DIV STYLE="float: right; width: 49%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">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; which has elected to qualify as a &quot;government money market fund&quot; pursuant to Rule 2a-7 under the 1940 Act,
and has an objective, which is not guaranteed, to maintain a $1.00 per share net asset value (&quot;NAV&quot;). Generally, these investment
types are categorized as Level 1 investments.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Derivatives are valued at fair value. Exchange traded derivatives are
generally Level 1 investments and over-the-counter and centrally cleared 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).</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">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 &quot;Valuation Time&quot;
(as defined below)), 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 the 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. The three-level
hierarchy of inputs is summarized below:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Level 1 &ndash; quoted prices in active markets for identical investments;</P>




<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">Level 2 &ndash; other significant observable inputs (including quoted
prices for similar securities, interest rates, prepayment speeds, and credit risk); or</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">Level 3 &ndash; significant unobservable inputs (including the Fund's
own assumptions in determining the fair value of investments).</P>

</DIV>

<DIV STYLE="clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>






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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc</FONT>.</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in; text-align: right"><B>29</B></TD></TR>
</TABLE>
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

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<DIV STYLE="background-color: rgb(220,220,222)"> &nbsp;

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Notes to Financial Statements </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">A summary of standard inputs is listed below:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-left: 5pt; background-color: rgb(220,220,222); vertical-align: bottom; width: 25%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Security Type</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); vertical-align: bottom; width: 73%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Standard Inputs</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); text-indent: -0.125in; padding-left: 0.18in; vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Debt and other fixed-income <BR>
securities</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 0.7pt; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Reported trade data, broker-dealer price quotations, benchmark yields, issuer spreads on comparable <BR>
securities, credit quality, yield, and maturity.</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding-left: 4pt; background-color: rgb(236,236,237); border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Forward foreign currency contracts</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Forward exchange rate quotations.</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-left: 4pt; background-color: rgb(236,236,237); text-align: left; vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Swap agreements</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Market information pertaining to the underlying reference assets, i.e., credit spreads, credit event <BR>
probabilities, fair values, forward rates, and volatility measures.</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The following is a summary of the inputs used as of April 30, 2022 in
valuing the Fund's investments and other financial instruments at fair value. The inputs or methodologies used for valuing securities
are not necessarily an indication of the risk associated with investing in those securities. Please refer to the Portfolio of Investments
for a detailed breakout of the security types:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); text-align: left; padding-left: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Investments, at Value</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); vertical-align: bottom; padding-top: 2pt; padding-right: 5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Level 1 &ndash; Quoted<BR>
Prices ($)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); white-space: nowrap; vertical-align: bottom; padding-top: 2pt; padding-right: 5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Level 2 &ndash; Other Significant<BR>
Observable Inputs ($)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); vertical-align: bottom; padding-top: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Level 3 &ndash; Significant<BR>
Unobservable Inputs ($)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 5pt; border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total ($)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="13" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Investments in Securities</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="13" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Fixed Income Investments</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom; width: 41%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Corporate Bonds</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 15%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$738,761,253</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 15%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$738,761,253</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Government Bonds</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">575,713,669</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">575,713,669</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Total Fixed Income Investments</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,314,474,922</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,314,474,922</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Short-Term Investment</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">28,385,213</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">28,385,213</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total Investments</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$28,385,213</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$1,314,474,922</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$&ndash;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$1,342,860,135</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="13" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Other Financial Instruments</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Centrally Cleared Interest Rate Swap Agreements</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">10,009,454</FONT></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$10,009,454</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Forward Foreign Currency Exchange Contracts</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,839,045</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,839,045</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Futures Contracts</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,974,594</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,974,594</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total Other Financial Instruments</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$7,974,594</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$14,848,499</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$&ndash;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$22,823,093</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total Assets</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$36,359,807</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$1,329,323,421</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$&ndash;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$1,365,683,228</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="13" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Liabilities</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD COLSPAN="13" STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Other Financial Instruments</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Forward Foreign Currency Exchange Contracts</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$(11,295,706)</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$(11,295,706)</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Futures Contracts</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-right: 2pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(7,544,141)</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(7,544,141)</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total Liabilities &ndash; Other Financial Instruments</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 2pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$(7,544,141)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 2pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$(11,295,706)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$&ndash;</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 2pt; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$(18,839,847</B>)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Other Financial Instruments</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-top: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-top: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; border-top: Black 1pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Amounts listed as &quot;&ndash;&quot; are $0 or round to $0.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">For the six-months ended April 30, 2022, there were no significant changes
to the fair valuation methodologies.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>30</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
                                            Asia-Pacific Income Fund, Inc.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Notes to Financial Statements </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>b. Restricted Securities:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Restricted securities are privately-placed securities whose resale is
restricted under U.S. securities laws. The Fund may invest in restricted securities, including unregistered securities eligible for resale
without registration pursuant to Rule 144A and privately-placed securities of U.S. and non-U.S. issuers offered outside the U.S. without
registration pursuant to Regulation S under the Securities Act of 1933, as amended. Rule 144A securities may be freely traded among certain
qualified institutional investors, such as the Fund, but resale of such securities in the U.S. is permitted only in limited circumstances.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>c. Foreign Currency Translation:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Foreign securities, currencies, and other assets and liabilities denominated
in foreign currencies are translated into U.S. Dollars at the exchange rate of said currencies against the U.S. Dollar, as of the Valuation
Time, as provided by an independent pricing service approved by the Board.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Foreign currency amounts are translated into U.S. Dollars on the following
basis:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.2in; text-align: left">(i)</TD><TD STYLE="text-align: justify">market value of investment securities, other assets and liabilities
 &ndash; at the current daily rates of exchange at the Valuation Time; and</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.2in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">purchases and sales of investment securities, income and
expenses &ndash; at the relevant rates of exchange prevailing on the respective dates of such transactions.</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund isolates that portion of the results of operations arising from
changes in the foreign exchange rates due to the fluctuations in the market prices of the securities held at the end of the reporting
period. Similarly, the Fund isolates the effect of changes in foreign exchange rates from the fluctuations arising from changes in the
market prices of portfolio securities sold during the reporting period.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Net exchange gain/(loss) is realized from sales and maturities of portfolio
securities, sales of foreign currencies, settlement of securities transactions, dividends, interest and foreign withholding taxes recorded
on the Fund's books. Net unrealized foreign exchange appreciation/(depreciation) includes changes in the value of portfolio securities
and other assets and liabilities arising as a result of changes in the exchange rate. The net realized and unrealized foreign exchange
gain/(loss) shown in the composition of net assets represents foreign exchange gain/(loss) for book purposes that may not have been recognized
for tax purposes.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Foreign security and currency transactions may involve certain considerations
and risks not typically associated with those of domestic origin, including unanticipated movements in the value of the foreign currency
relative to the U.S. Dollar. Generally, when the U.S. Dollar</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 2pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">rises in value against foreign currency, the Fund's investments denominated
in that foreign currency will lose value because the foreign currency is worth fewer U.S. Dollars; the opposite effect occurs if the U.S.
Dollar falls in relative value.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>d. Derivative Financial Instruments:</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The Fund is authorized to use derivatives to manage currency risk, interest
rate risk and credit risk and to replicate, or use as a substitute for, physical securities. Losses may arise due to changes in the value
of the contract or if the counterparty does not perform under the contract. The use of derivative instruments involves, to varying degrees,
elements of market risk in excess of the amount recognized in the Statement of Assets and Liabilities.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Forward Foreign Currency Exchange Contracts:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">A forward foreign currency exchange contract (&quot;forward contract&quot;)
involves an obligation to purchase and sell a specific currency at a future date, which may be any fixed number of days from the date
of the contract agreed upon by the parties, at a price set at the time of the contract. Forward contracts are used to manage the Fund's
currency exposure in an efficient manner. They are used to sell unwanted currency exposure that comes with holding securities in a market,
or to buy currency exposure where the exposure from holding securities is insufficient to give the desired currency exposure either in
absolute terms or relative to a particular benchmark or index. The use of forward contracts allows for the separation of investment decision-making
between foreign exchange holdings and their currencies.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The forward contract is marked-to-market daily and the change in market
value is recorded by the Fund as unrealized appreciation or depreciation. Forward contracts' prices are received daily from an independent
pricing provider. When the forward contract is closed, the Fund records a realized gain or loss equal to the difference between the value
at the time it was opened and the value at the time it was closed. These realized and unrealized gains and losses are reported on the
Statement of Operations. During the six-month period ended April 30, 2022, the Fund used forward contracts to hedge and manage Australian
and certain Asian currency exposure.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">While the Fund may enter into forward contracts to seek to reduce currency
exchange rate risks, transactions in such contracts involve certain risks. The Fund could be exposed to risks if the counterparties to
the contracts are unable to meet the terms of their contracts and from unanticipated movements in exchange rates. Thus, while the Fund
may benefit from such transactions, unanticipated changes in currency prices may result in a poorer overall performance for the Fund than
if it had not engaged in any such transactions. Moreover, there may be</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

</DIV>

<DIV STYLE="clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>31</B></FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

</DIV>




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<DIV>

<DIV STYLE="background-color: rgb(220,220,222)">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Notes to Financial Statements </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> imperfect
correlation between the Fund's portfolio holdings or securities quoted or denominated in a particular currency and forward contracts entered
into by the Fund. Such imperfect correlation may prevent the Fund from achieving a complete hedge, which will expose the Fund to the risk
of foreign exchange loss.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Forward contracts are subject to the risk that a counterparty to such
contracts may default on their obligations. Since a forward contract is not guaranteed by an exchange or clearing house, a default on
the contract would deprive the Fund of unrealized profits, transaction costs or the benefits of a currency hedge or force the Fund to
cover its purchase or sale commitments, if any, at the market price at the time of the default.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Futures Contracts:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund may invest in financial futures contracts (&quot;futures contracts&quot;)
for the purpose of hedging its existing portfolio securities, or securities that the Fund intends to purchase, against fluctuations in
value caused by changes in prevailing market interest rates or prices. Futures contracts may also be entered into for non-hedging purposes,
however, in those instances, (a) either the aggregate initial margin and premiums required to establish the Fund's position may not exceed
5% of the Fund's NAV after taking into account unrealized profits and unrealized losses on any such contract into which it has entered
into, or (b) the aggregate net notional value of the Fund's position may not exceed 100% of the Fund's NAV after taking into account unrealized
profits and unrealized losses on any such contract which it has entered into.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Upon entering into a futures contract, the Fund is required to pledge
to the broker an amount of cash and/or other assets equal to a certain percentage of the contract amount. This payment is known as initial
margin. Subsequent payments, known as &quot;variation margin,&quot; are calculated each day, depending on the daily fluctuations in the
fair value/market value of the underlying assets. An unrealized gain/(loss) equal to the variation margin is recognized on a daily basis.
When the contract expires or is closed, the gain/(loss) is realized and is presented in the Statement of Operations as a net realized
gain/(loss) on futures contracts. Futures contracts are valued daily at their last quoted sale price on the exchange on which they are
traded.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">A &quot;sale&quot; of a futures contract means a contractual obligation
to deliver the securities or foreign currency called for by the contract at a fixed price at a specified time in the future. A &quot;purchase&quot;
of a futures contract means a contractual obligation to acquire the securities or foreign currency at a fixed price at a specified time
in the future. During the six-month period ended April 30, 2022, the Fund used U.S. Treasury</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 1pt">&nbsp;&nbsp;</FONT></P>

<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">futures to manage U.S. interest rate exposure and hedge the U.S. interest
rate risk.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">There are significant risks associated with the Fund's use of futures
contracts, including the following: (1) the success of a hedging strategy may depend on the ability of the Fund's investment manager and/or
sub-adviser to predict movements in the prices of individual securities, fluctuations in markets and movements in interest rates; (2)
there may be an imperfect or no correlation between the movement in the price of futures contracts, interest rates and the value/market
value of the securities held by the Fund; (3) there may not be a liquid secondary market for a futures contract; (4) trading restrictions
or limitations may be imposed by an exchange; and (5) government regulations may restrict trading in futures contracts. In addition, should
market conditions change unexpectedly, the Fund may not achieve the anticipated benefits of the futures contracts and may realize a loss.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Swaps:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">A swap is an agreement that obligates two parties to exchange a series
of cash flows and/or meet certain obligations at specified intervals based upon or calculated by reference to changes in specified prices
or rates (interest rates in the case of interest rate swaps, currency exchange rates in the case of currency swaps) or the occurrence
of a credit event with respect to an underlying reference obligation (in the case of a credit default swap) for a specified amount of
an underlying asset or notional principal amount. The Fund will enter into swaps only on a net basis, which means that the two payment
streams are netted out, with the Fund receiving or paying, as the case may be, only the amount of the difference between the two payments.
Except for currency swaps and credit default swaps, the notional principal amount is used solely to calculate the payment streams but
is not exchanged. With respect to currency swaps, actual principal amounts of currencies may be exchanged by the counterparties at the
initiation, and again upon the termination of the transaction.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Traditionally, swaps were customized, privately negotiated agreements
executed between two parties (&quot;OTC Swaps&quot;) but since 2013, certain swaps are required to be cleared pursuant to rules and regulations
related to the Dodd-Frank Wall Street Reform and Consumer Protection Act (&quot;Dodd-Frank&quot;) and/or Regulation (EU) No 648/2012
on OTC Derivatives, Central Counterparties and Trade Repositories (&quot;EMIR&quot;) (&quot;Cleared Swaps&quot;). Like OTC Swaps, Cleared
Swaps are negotiated bilaterally. Unlike OTC Swaps, the act of clearing results in two swaps executed between each of the parties and
a central counterparty (&quot;CCP&quot;), and thus the counterparty credit exposure of the parties is to the CCP rather than to one another.
Upon entering into a Cleared Swap,</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

</DIV>

<DIV STYLE="clear: both; width: 100%">

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>32</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
                                            Asia-Pacific Income Fund, Inc.</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

</DIV>

</DIV>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">&nbsp;</P>




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<DIV STYLE="background-color: rgb(220,220,222)">

<DIV STYLE="background-color: rgb(220,220,222)">

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Notes to Financial Statements </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">the Fund is required to pledge an amount of
cash and/or other assets equal to a certain percentage of the contract amount. This payment is known as &quot;initial margin&quot;.
Subsequent payments, known as &quot;variation margin,&quot; are calculated each day, depending on the daily fluctuations in the fair
value/market value of the underlying assets. An unrealized gain or loss equal to the variation margin is recognized on a daily
basis. When the contract matures or is terminated, the gain or loss is realized and is presented in the Statements of Operations as
a net realized gain or loss on swap contracts. As of March 2017, the Fund may be required to provide variation and/or initial margin
for OTC Swaps pursuant to further rules and regulations related to Dodd Frank and EMIR. The margin requirements associated with OTC
Swaps and Cleared Swaps may not be the same.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The rights and obligations of the parties to a swap are memorialized
in either an International Swap Dealers Association, Inc. Master Agreement (&quot;ISDA&quot;) for OTC Swaps or a futures agreement with
an OTC addendum for Cleared Swaps (&quot;Clearing Agreement&quot;). These agreements are with certain counterparties whose creditworthiness
is monitored on an ongoing basis by risk professionals. Both the ISDA and Clearing Agreement maintain provisions for general obligations,
representations, agreements, collateral, and events of default or termination. The occurrence of a specified event of default or termination
by one party may give the other party the right to terminate and settle all of its contracts.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Entering into swap agreements involves, to varying degrees, elements
of credit, market and interest risk in excess of the amounts reported</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></P>

<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">on the Statement of Assets and Liabilities. Such risks involve the possibility
that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligation to perform
and that there may be unfavorable changes in the value of the index or securities underlying the agreement. The Fund's maximum risk of
loss from counterparty risk related to swaps is the fair value of the contract. This risk is mitigated by the posting of collateral by
the counterparties to the Fund to cover the Fund's exposure to the counterparty.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Interest Rate Swaps</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund uses interest rate swap contracts to manage its exposure to
interest rates. Interest rate swap contracts typically represent the exchange between the Fund and a counterparty of respective commitments
to make variable rate and fixed rate payments with respect to a notional amount of principal. Interest rate swap contracts may have a
term that is greater than one year, but typically require periodic interim settlement in cash, at which time the specified value of the
variable interest rate is reset for the next settlement period. Net payments of interest are recorded as realized gains or losses. During
the period that the swap contract is open, the contract is marked-to-market as the net amount due to or from the Fund and changes in the
value of swap contracts are recorded as unrealized gains or losses. During the six-month period ended April 30, 2022, the Fund used interest
rate swaps to hedge the interest rate risk on the Fund's Revolving Credit Facility (as defined in Note 9 below).</P>

</DIV>

<DIV STYLE="clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Summary of Derivative Instruments:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund may use derivatives for various purposes as noted above. The
following is a summary of the fair value of derivative instruments, not accounted for as hedging instruments, as of April 30, 2022:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="background-color: rgb(220,220,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(220,220,222)">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Asset Derivatives</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222)">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Liability Derivatives</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222)">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid; padding-left: 0.125in; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Derivatives Not Accounted For as <BR>
Hedging Instruments <BR>
and Risk Exposure</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Statement of Assets and<BR>
Liabilities Location</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Fair Value</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Statement of Assets and<BR>
Liabilities Location</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Fair Value</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(236,236,237); vertical-align: top; width: 25%; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Interest rate swaps<BR>
(interest rate risk)</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: top; width: 22%; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Unrealized appreciation on<BR>
receivable for centrally<BR>
cleared interest rate swaps</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: top; width: 10%; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,009,454</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: top; width: 1%; padding-top: 1.5pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 4%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: top; width: 22%; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Unrealized depreciation<BR>
payable for centrally<BR>
cleared interest rate swaps</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: top; width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: top; width: 10%; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: top; width: 1%; padding-top: 1.5pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(236,236,237); vertical-align: top; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Forward foreign currency exchange <BR>
contracts (foreign exchange risk)</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: top; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Unrealized appreciation<BR>
on forward foreign currency<BR>
exchange contracts</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: top; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,839,045</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: top; padding-top: 1.5pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: top; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Unrealized depreciation<BR>
on forward foreign currency<BR>
exchange contracts</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: top; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">11,295,706</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); vertical-align: top; padding-top: 1.5pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237)">&nbsp;</TD></TR>

<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Futures contracts<BR>
(interest rate risk)</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Variation margin receivable<BR>
for futures contracts</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$7,974,594</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Variation margin payable<BR>
for futures contracts</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">7,544,141</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; padding-left: 0.125in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><B>$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">22,823,093</FONT></B></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$18,839,847</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 1pt; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">The values shown reflect unrealized appreciation/(depreciation)
and the values shown in the Statement of Assets and Liabilities reflects variation margin.</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Amounts listed as &quot;&ndash;&quot; are $0 or round to $0.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>33</B></FONT></TD></TR>
  </TABLE>


</DIV>

</DIV>

</DIV>






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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: 10pt; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Notes to Financial Statements </FONT><FONT STYLE="font-size: 11pt">(unaudited)
(continued)</FONT></P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund has transactions that may be subject to enforceable master netting
agreements. A reconciliation of the gross amounts on the Statement of Assets and Liabilities as of April 30, 2022 to the net amounts by
broker and derivative type, including any collateral received or pledged, is included in the following tables:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="font-size: 9pt">
    <TD STYLE="font-size: 9pt; padding-left: 0.125in; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Gross Amounts Not Offset<BR>
in Statement of<BR>
Assets &amp; Liabilities</B></FONT></TD>
    <TD STYLE="font-size: 9pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Gross Amounts Not Offset<BR>
in Statement of<BR>
Assets and Liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="background-color: rgb(220,220,222); font-size: 9pt; padding-left: 0.125in; border-bottom: Black 1.5pt solid; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Description</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 0.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Gross Amounts<BR>
of Assets<BR>
Presented in<BR>
Statement of<BR>
Assets and<BR>
Liabilities</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 0.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Financial<BR>
Instruments</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 0.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Collateral<BR>
Received<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 0.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net<BR>
Amount<SUP>(3)</SUP></B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 0.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Gross Amounts<BR>
of Liabilities<BR>
Presented in<BR>
Statement of<BR>
Assets and<BR>
Liabilities</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 0.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Financial<BR>
Instruments</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 0.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Collateral<BR>
Pledged<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 0.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net<BR>
Amount<SUP>(3)</SUP></B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; padding-left: 0.125in; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="background-color: rgb(236,236,237); font-size: 9pt; border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Assets</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="background-color: rgb(236,236,237); font-size: 9pt; border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Liabilities</B></FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD COLSPAN="33" STYLE="font-size: 9pt; text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Forward foreign <BR>
currency<SUP>(2)</SUP></B></FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="white-space: nowrap; font-size: 9pt; padding-left: 0.25in; background-color: rgb(236,236,237); vertical-align: bottom; width: 105px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">BNP Paribas S.A.</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 20px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 83px; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,448,201</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 8px; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); width: 8px">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 20px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 67px; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(10,225</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 18px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); width: 8px">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 20px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 65px; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 8px; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); width: 8px">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 20px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 59px; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,437,976</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 8px; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); width: 8px">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 20px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 83px; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,225</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 8px; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); width: 8px">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 20px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 67px; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(10,225</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 18px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); width: 8px">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 20px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 61px; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 18px; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); width: 8px">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 20px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 59px; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; width: 8px; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); width: 8px">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; font-size: 9pt; padding-left: 0.25in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Citibank N.A.</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,425,971</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(2,425,971</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10,237,159</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(2,425,971</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(4,690,000</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,121,188</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="white-space: nowrap; font-size: 9pt; padding-left: 0.25in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">HSBC Bank PLC</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">32,982</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">32,982</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="text-indent: -0.125in; white-space: nowrap; font-size: 9pt; padding-left: 0.375in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Royal Bank of Canada</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">962,513</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">962,513</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="text-indent: -0.125in; white-space: nowrap; font-size: 9pt; padding-left: 0.375in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Standard Chartered Bank</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">124,242</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">124,242</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; font-size: 9pt; padding-left: 0.25in; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">UBS AG</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">807,649</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(85,809</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">721,840</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">85,809</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(85,809</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">In some instances, the actual collateral received and/or
pledged may be more than the amount shown here due to overcollateralization.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(2)</TD><TD STYLE="text-align: justify">Includes financial instruments (swaps and forwards) which
are not subject to a master netting arrangement across funds, or another similar arrangement.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(3)</TD><TD STYLE="text-align: justify">Net amounts represent the net receivable/(payable) that would
be due from/to the counterparty in the event of default. Exposure from financial derivative instruments can only be netted across transactions
governed under the same master netting arrangements with the same legal entity.</TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The effect of derivative instruments on the Statement of Operations for
the six-month period ended April 30, 2022:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="font-size: 9pt">
    <TD STYLE="padding-left: 0.125in; background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid; font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Derivatives Not Accounted For as<BR>
Hedging Instruments</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Location of Gain or (Loss) on<BR>
Derivatives</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Realized Gain<BR>
or (Loss) on<BR>
Derivatives</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,220,222); font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Change in<BR>
Unrealized<BR>
Appreciation/<BR>
(Depreciation) on<BR>
Derivatives</B></FONT></TD>
    <TD STYLE="background-color: rgb(220,220,222); border-bottom: Black 1.5pt solid; font-size: 9pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: top; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Interest rate swaps<BR>
(interest rate risk)</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Realized/Unrealized Gain/(Loss) from<BR>
Investments, Interest Rate Swaps,<BR>
Futures Contracts and Foreign Currencies</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,166,501</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$5,735,109</FONT></TD>
    <TD STYLE="font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; width: 30%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; width: 2%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; width: 33%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; width: 2%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; width: 15%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; width: 16%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; width: 1%">&nbsp;</TD></TR>

<TR STYLE="font-size: 9pt">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; background-color: rgb(236,236,237); font-size: 9pt; vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Forward
    foreign currency exchange contracts (foreign exchange risk)</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; text-align: right; vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$(1,274,046</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); text-align: left; font-size: 9pt; vertical-align: bottom">)</TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt; text-align: right; vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$(6,082,715)</FONT></TD>
    <TD STYLE="background-color: rgb(236,236,237); font-size: 9pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.25in; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Futures
    contracts <BR>
(interest rate risk)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9pt; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9pt; text-align: right; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$2,175,914</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9pt; text-align: right; background-color: rgb(236,236,237); vertical-align: bottom; padding-top: 1.5pt; padding-right: 0.7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$(1,988,789)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9pt; background-color: rgb(236,236,237)">&nbsp;</TD></TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="padding-left: 0.125in; border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); font-size: 9pt; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); font-size: 9pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); font-size: 9pt; vertical-align: bottom; padding-top: 3pt; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); font-size: 9pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); font-size: 9pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>$3,068,369</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); font-size: 9pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$<B>(2,336,395</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(236,236,237); font-size: 9pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>34</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
                                            Asia-Pacific Income Fund, Inc.</FONT></TD>
</TR></TABLE>

</DIV>







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<DIV STYLE="background-color: rgb(220,221,222)">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Notes
to Financial Statements </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited) (continued)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">Information about derivatives reflected as of the date of this report
is generally indicative of the type of activity during the six-month period ended April 30, 2022. The table below summarizes the weighted
average values of derivatives holdings for the Fund during the six-month period ended April 30, 2022.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; padding-left: 10pt; background-color: rgb(220,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Derivative</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 8pt; padding-bottom: 2pt; background-color: rgb(220,221,222); vertical-align: bottom; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Average</B></FONT></P>
                                                                                                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 2pt"><B>&nbsp;</B></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Notional Value</B></FONT></P></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 2pt; padding-left: 10pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 178px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Purchase Forward Foreign Currency Contracts</FONT></TD>
    <TD STYLE="padding-right: 8pt; padding-bottom: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 78px; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$377,859,685</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding-bottom: 2pt; padding-left: 10pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Sale Forward Foreign Currency Contracts</FONT></TD>
    <TD STYLE="padding-right: 8pt; padding-bottom: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">185,585,527</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 2pt; padding-left: 10pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Long Futures Contracts</FONT></TD>
    <TD STYLE="padding-right: 8pt; padding-bottom: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">66,878,681</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="padding-bottom: 2pt; padding-left: 10pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Short Futures Contracts</FONT></TD>
    <TD STYLE="padding-right: 8pt; padding-bottom: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">132,905,692</FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; padding-left: 10pt; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Interest Rate Swaps</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 8pt; padding-bottom: 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">107,996,073</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>e. Bank Loans:</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund may invest in bank loans. Bank loans include floating and fixed-rate
debt obligations. Floating rate loans are debt obligations issued by companies or other entities with floating interest rates that reset
periodically. Bank loans may include, but are not limited to, term loans, delayed funding loans, bridge loans and revolving credit facilities.
Loan interest will primarily take the form of assignments purchased in the primary or secondary market but may include participations.
Floating rate loans are secured by specific collateral of the borrower and are senior to most other securities of the borrower (e.g.,
common stock or debt instruments) in the event of bankruptcy. Floating rate loans are often issued in connection with recapitalizations,
acquisitions, leveraged buyouts, and refinancings. Floating rate loans are typically structured and administered by a financial institution
that acts as the agent of the lenders participating in the floating rate loan. Floating rate loans may be acquired directly through the
agent, as an assignment from another lender who holds a direct interest in the floating rate loan, or as a participation interest in another
lender's portion of the floating rate loan.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund may also enter into, or acquire participation in, delayed funding
loans and revolving credit facilities. Delayed funding loans and revolving credit facilities are borrowings in which the Fund agrees to
make loans up to a maximum amount upon demand by the borrowing issuer for a specified term. A revolving credit facility differs from a
delayed funding loan in that as the borrowing issuer repays the loan, an amount equal to the repayment is again made available to the
borrowing issuer under the facility. The borrowing issuer may at any time borrow and repay amounts so long as, in the aggregate, at any
given time the amount borrowed does not exceed the maximum amount established by the loan agreement. Delayed funding loans and revolving
credit facilities usually provide for floating or variable rates of interest.</P>

</DIV>



<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">See &quot;Bank Loan Risk&quot; under &quot;Portfolio Investment Risks&quot;
for information regarding the risks associated with an investment in bank loans.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>f. Security Transactions, Investment Income and Expenses:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">Security transactions are recorded on the trade date. Realized and unrealized
gains/(losses) from security and foreign currency transactions are calculated on the identified cost basis. Interest income and expenses
are recorded on an accrual basis. Discounts and premiums on securities purchased are accreted or amortized on an effective yield basis
over the estimated lives of the respective securities.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>g. Distributions:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The Fund has a managed distribution policy to pay distributions from
net investment income supplemented by net realized foreign exchange gains, net realized short-term capital gains, net realized long-term
capital gains and return of capital distributions, if necessary, on a monthly basis. The managed distribution policy is subject to regular
review by the Board. The Fund will also declare and pay distributions at least annually from net realized gains on investment transactions
and net realized foreign exchange gains, if any. Dividends and distributions to shareholders are recorded on the ex-dividend date.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Dividends and distributions to shareholders are determined in accordance
with federal income tax regulations, which may differ from GAAP. These differences are primarily due to differing treatments for foreign
currencies and loss deferrals.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">Distributions to Series A Mandatory Redeemable
Preferred Shares (the &quot;Series A MRPS&quot;) shareholders are accrued daily and paid quarterly based on an annual rate of
4.125%. The Fund may not pay distributions to its preferred shareholders unless (i) the pro forma asset coverage ratios for the
Series A MRPS, as calculated in accordance with the Fitch Ratings total and net overcollateralization tests per the 'A' rating
guidelines outlined in Fitch Rating's closed-end fund criteria, is in excess of 100%, and (ii) the Fund's asset coverage ratios for
the Series A MRPS, as calculated in accordance with the 1940 Act, is in excess of 225%. The character of distributions to Series A
MRPS shareholders made during the fiscal year may differ from their ultimate characterization for federal income tax purposes. For
tax purposes, the Fund's distributions to Series A MRPS shareholders for the six-month period ended April 30, 2022 were 100% net
investment income.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>h. Federal Income Taxes:</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">For U.S. federal income purposes, the Fund includes a separately identifiable
unit called a Qualified Business Unit (&quot;QBU&quot;) (see Internal Revenue Code of 1986, as amended (&quot;IRC&quot;) section 987).
The Fund has operated with a QBU for U.S. federal income purposes since 1990. The</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font: 7pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in"><FONT STYLE="font-size: 7pt"><B>35</B></FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

</DIV>

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<DIV STYLE="background-color: rgb(220,221,222)">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Notes
to Financial Statements </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited) (continued)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">home office of the Fund is designated as the United States and of the
QBU is Australia with a functional currency of Australian dollar. The securities held within the Fund reside within either the QBU or
the home office. Australian dollar denominated securities within the Australian QBU generate capital gain/loss (which are translated for
U.S. federal income tax purposes into U.S. Dollars based on the weighted average exchange rate for the period) but not currency gain/loss.
If a non AUD denominated security were to sit in the AUD QBU and was sold, the sale would generate capital gain/loss as well as currency
gain/loss based on the currency exchange between the currency the security is denominated in and the Australian dollar.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Currency gain/loss related to currency exchange between the U.S. Dollar
and the QBU functional currency is generated when money is transferred from a QBU to the home office. The currency gain/loss would result
from the difference between the current exchange rate and the fiscal year to date average exchange rate until which profits are repatriated
to U.S. Dollar basis in the QBU (which is generally computed based on the currency exchange rates from when money was transferred into
such QBU and from gain/losses generated within such QBU based on the weighted average exchange rates for the periods such gain/loss was
recognized). Based on the QBU structure, there may be sizable differences in the currency gain/loss recognized for U.S. federal income
tax purposes and what is reported within the financial statements under GAAP. As of the Fund's fiscal year-end, the calculation of the
composition of distributions to shareholders is finalized and reported in the Fund's annual report to shareholders.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund intends to continue to qualify as a &quot;regulated investment
company&quot; by complying with the provisions available to certain investment companies, as defined in Subchapter M of the IRC, and to
make distributions of net investment income and net realized capital gains sufficient to relieve the Fund from all federal income taxes.
Therefore, no federal income tax provision is required. The Fund recognizes the tax benefits of uncertain tax positions only where the
position is &quot;more likely than not&quot; to be sustained assuming examination by tax authorities. Management of the Fund has concluded
that there are no significant uncertain tax positions that would require recognition in the financial statements. Since tax authorities
can examine previously filed tax returns, the Fund's U.S. federal and state tax returns for each of the most recent four fiscal years
up to the most recent fiscal year ended October 31, 2021 are subject to such review.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>i. Foreign Withholding Tax:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">Dividend and interest income from non-U.S. sources received by the Fund
are generally subject to non-U.S. withholding taxes. In addition, the Fund may be subject to capital gains tax in certain countries in</P>

</DIV>



<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">which it invests. The above taxes may be reduced or eliminated under
the terms of applicable U.S. income tax treaties with some of these countries. The Fund accrues such taxes when the related income is
earned.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In addition, when the Fund sells securities within certain countries
in which it invests, the capital gains realized may be subject to tax. Based on these market requirements and as required under GAAP,
the Fund accrues deferred capital gains tax on securities currently held that have unrealized appreciation within these countries. The
amount of deferred capital gains tax accrued, if any, is reported on the Statement of Assets and Liabilities.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>j. Cash Flow Information:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The Fund invests in securities and distributes dividends from net investment
income and net realized gains on investment and currency transactions which are paid in cash or are reinvested at the discretion of shareholders.
These activities are reported in the Statements of Changes in Net Assets and additional information on cash receipts and cash payments
is presented in the Statement of Cash Flows. Cash includes domestic and foreign currency as well as cash in segregated accounts for financial
futures, swaps, and forward contracts which has been designated as collateral.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>3. Agreements and Transactions with Affiliates</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>a. Investment Manager, Investment Sub-Adviser, and Fund Administration:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">abrdn Asia Limited (&quot;abrdn Asia&quot; or the &quot;Investment Manager&quot;),
formerly known as Aberdeen Standard Investments (Asia) Limited, serves as investment manager to the Fund, pursuant to a management agreement.
Aberdeen Asset Managers Limited (&quot;AAML&quot; or the &quot;Sub-Adviser&quot;) serves as the sub-adviser pursuant to a sub-advisory
agreement with the Investment Manager. The Investment Manager and the Sub-Adviser (collectively, the &quot;Advisers&quot;) are wholly-owned
indirect subsidiaries of abrdn plc, formerly known as Standard Life Aberdeen plc. In rendering advisory services, the Advisers may use
the resources of investment advisor subsidiaries of abrdn plc. These affiliates have entered into procedures pursuant to which investment
professionals from affiliates may render portfolio management and research services as associated persons of the Advisers.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Investment Manager manages the Fund's investments and makes investment
decisions on behalf of the Fund including the selection of and the placement of orders with brokers and dealers to execute portfolio transactions
on behalf of the Fund. The Sub-Adviser manages the portion of the Fund's assets that the Investment Manager allocates to it. The Sub-Adviser
is paid by the Investment Manager, not the Fund.</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><B>36<FONT STYLE="font-size: 7pt">&nbsp;</FONT></B></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

</DIV>

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<DIV STYLE="background-color: rgb(220,221,222); width: 100%">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Notes
to Financial Statements </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited) (continued)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The management agreement provides the Investment Manager with a fee,
payable monthly by the Fund, at the following annual rates: 0.65% of the Fund's average weekly Managed Assets up to $200 million, 0.60%
of Managed Assets between $200 million and $500 million, 0.55% of Managed Assets between $500 million and $900 million, 0.50% of Managed
Assets between $900 million and $1.75 billion and 0.45% of Managed Assets in excess of $1.75 billion. Managed Assets is defined in the
management agreement to mean total assets of the Fund, including any form of investment leverage, minus all accrued expenses incurred
in the normal course of operations, but not excluding any liabilities or obligations attributable to investment leverage obtained through
(i) indebtedness of any type (including, without limitation, borrowing through a credit facility or the issuance of debt securities),
(ii) the issuance of preferred stock or other similar preference securities, (iii) the reinvestment of collateral received for securities
loaned in accordance with the Fund's investment objectives and policies, and/or (iv) any other means.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">For the six-month period ended April 30, 2022, abrdn Asia earned $4,161,083
from the Fund for investment management fees.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">abrdn, Inc. (formerly, known as Aberdeen Standard Investments, Inc.),
an affiliate of the Investment Manager and Sub-Adviser, is the Fund's Administrator pursuant to an agreement under which ASII receives
a fee, payable monthly by the Fund, at an annual fee rate of 0.125% of the Fund's average weekly Managed Assets up to $1 billion, 0.10%
of the Fund's average weekly Managed Assets between $1 billion and $2 billion, and 0.075% of the Fund's average weekly Managed Assets
in excess of $2 billion. For the six-months ended April 30, 2022, ASII earned $876,847 from the Fund for administration fees.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>b. Investor Relations:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">Under the terms of the Investor Relations Services Agreement, abrdn Inc.
provides and/or engages third parties to provide investor relations services to the Fund and certain other funds advised by abrdn Asia
or its affiliates as part of an Investor Relations Program. Under the Investor Relations Services Agreement, the Fund owes a portion of
the fees related to the Investor Relations Program (the &quot;Fund's Portion&quot;). However, investor relations services fees are limited
by abrdn Inc. so that the Fund will only pay up to an annual rate of 0.05% of the Fund's average weekly net assets. Any difference between
the capped rate of 0.05% of the Fund's average weekly net assets and the Fund's Portion is paid for by abrdn Inc.</P>

</DIV>



<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Pursuant to the terms of the Investor Relations Services Agreement, abrdn
Inc. (or third parties hired by abrdn Inc.), among other things, provides objective and timely information to stockholders based on publicly
available information; provides information efficiently through the use of technology while offering stockholders immediate access to
knowledgeable investor relations representatives; develops and maintains effective communications with investment professionals from a
wide variety of firms; creates and maintains investor relations communication materials such as fund manager interviews, films and webcasts,
publishes white papers, magazine articles and other relevant materials discussing the Fund's investment results, portfolio positioning
and outlook; develops and maintains effective communications with large institutional shareholders; responds to specific shareholder questions;
and reports activities and results to the Board and management detailing insight into general shareholder sentiment.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">During the six-months ended April 30, 2022, the Fund incurred investor
relations fees of approximately $128,796. For the six-months ended April 30, 2022, abrdn Inc. did not bear any portion of to the investor
relations fees for the Fund because the Fund's contribution was below 0.05% of the Fund's average weekly net assets on an annual basis.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>4. Investment Transactions</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Purchases and sales of investment securities (excluding short-term securities)
for the six-month period ended April 30, 2022, were $142,887,999 and $187,264,607, respectively.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>5. Capital</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The authorized capital of the Fund is 400 million shares of $0.01 par
value per share of common stock. During the six-month period ended April 30, 2022, the Fund repurchased no shares pursuant to its Open
Market Repurchase Program, see Note 6 for further information. As of April 30, 2022, there were 247,695,769 shares of common stock issued
and outstanding.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>6. Open Market Repurchase Program</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">On March 1, 2001, the Board approved a stock repurchase
program. The Board amended the program on December 12, 2007. The stock repurchase program allows the Fund to repurchase up to 10% of
its outstanding common stock in the open market during any 12-month period. The Fund reports repurchase activity on the Fund's website
on a monthly basis.</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income
    Fund, Inc.</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in"><FONT STYLE="font-size: 7pt"><B>37</B></FONT></TD></TR>
  </TABLE>

<P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

</DIV>

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<DIV STYLE="background-color: rgb(220,221,222)">

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Notes
to Financial Statements </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited) (continued)</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>7. Preferred Shares</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">At April 30, 2022, the Fund had 2,000,000 shares of Series A MRPS, rated
'A' by Fitch ratings, outstanding with an aggregate liquidation preference of $50,000,000 ($25 per share). The following table shows the
mandatory redemption date, annual fixed rate, aggregate liquidation preference and estimated fair value of the Series A MRPS at April
30, 2022.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 2pt 0.7pt 1pt 10pt; font-size: 9pt; background-color: rgb(220,221,222); vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Mandatory
    <BR>
    Redemption <BR>
    Date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Annual<BR>
    Fixed Rate</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 5pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Aggregate<BR>
    Liquidation<BR>
    Preference</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 9pt; background-color: rgb(220,221,222); vertical-align: bottom; padding-top: 2pt; padding-right: 3pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Estimated<BR>
    Fair Value</B></FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; padding-left: 10pt; font-size: 9pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 42%; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">June
    27, 2023</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; font-size: 9pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 17%; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.125</FONT><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 5pt; padding-top: 2pt; font-size: 9pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 23%; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">50,000,000</FONT></FONT></TD>
    <TD STYLE="padding-right: 3pt; border-bottom: Black 1.5pt solid; padding-top: 2pt; font-size: 9pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 18%; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">50,009,592</FONT></FONT></TD>
    </TR>
  </TABLE>
<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">Holders of the Series A MRPS are entitled to receive quarterly cumulative
cash dividend payments on the first business day following each calendar quarter at an annual fixed rate of 4.125% until maturity. The
Series A MRPS were issued in private placement offerings to institutional investors and are not listed on any exchange or automated quotation
system. Distributions are accrued daily and paid quarterly and are presented in the Statement of Assets and Liabilities as a dividend
payable to preferred shareholders. For the six-month period ended April 30, 2022, the Fund paid $1,036,980 in distributions to preferred
shareholders.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Series A MRPS rank senior to all of the Fund's outstanding shares
of common stock and on a parity with shares of any other series of preferred stock as to the payment of dividends to which the shares
are entitled and the distribution of assets upon dissolution, liquidation or winding up of the affairs of the Fund.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The estimated fair value of Series A MRPS was calculated, for disclosure
purposes, by discounting future cash flows by a rate equal to the current U.S. Treasury rate with an equivalent maturity date, plus the
spread between the U.S. insurance and financial debt rate and the U.S. Treasury rate plus a market spread for the issuance of preferred
shares.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Series A MRPS are redeemable in certain circumstances at the option
of the Fund. The Series A MRPS are also subject to mandatory redemption, unless otherwise prohibited by the 1940 Act, if the Fund fails
to maintain (1) asset coverage, as determined in accordance with Section 18(h) of the 1940 Act, of at least 225%, with respect to all
outstanding preferred stock, as of the last day of any month or (2) eligible assets with an aggregate agency discounted value at least
equal to the basic maintenance amount as provided in the Fund's rating agency guidelines. As of April 30, 2022, the Fund was in compliance
with the asset coverage and basic maintenance requirements of the Series A MRPS.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Except for matters which do not require the vote of the holders of the
Series A MRPS under the 1940 Act and except as otherwise provided</P>

</DIV>



<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">in the Fund's Charter or Bylaws, or as otherwise required by applicable
law, holders of the Series A MRPS have one vote per share and generally vote together with holders of common stock as a single class on
all matters submitted to the Fund's stockholders. The holders of the Series A MRPS, voting separately as a single class, have the right
to elect at least two directors of the Fund.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>8. Senior Secured Notes</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt"><B>&nbsp;</B></FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">At April 30, 2022, the Fund had $350,000,000 in aggregate principal amount
of senior secured notes rated 'A' by Fitch Ratings outstanding ($100,000,000 in 3.69% Series B Senior Secured Notes due June 12, 2023,
$50,000,000 in 3.87% Series C Senior Secured Notes due February 8, 2032, $100,000,000 in 3.70% Series D Senior Secured Notes due August
10, 2032 and $100,000,000 in 3.73% Series D Senior Secured Notes due June 19, 2034) (collectively, the &quot;Notes&quot;). The Notes are
secured obligations of the Fund and, upon liquidation, dissolution or winding up of the Fund, will rank senior to all unsecured and unsubordinated
indebtedness and senior to any common or preferred stock pari passu in priority and security with all other secured indebtedness. Holders
of the Notes are entitled to receive cash interest payments semi-annually until maturity. The Series B Notes, the Series C Notes, the
Series D Notes and the Series E Notes accrue interest at annual fixed rates of 3.69%, 3.87%, 3.70% and 3.73%, respectively.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Notes were issued in private placement offerings to institutional
investors and are not listed on any exchange or automated quotation system.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The estimated fair value of each series of fixed-rate Notes was calculated,
for disclosure purposes, by discounting future cash flows by a rate equal to the current U.S. Treasury rate with an equivalent maturity
date, plus either 1) the spread between the interest rate on recently issued debt and the U.S. Treasury rate with a similar maturity date
or 2) if there has not been a recent debt issuance, the spread between the AAA corporate finance debt rate and the U.S. Treasury rate
with an equivalent maturity date. The following table shows the maturity date, interest rate, notional/carrying amount and estimated fair
value for each series of Notes outstanding at April 30, 2022.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-left: 7pt; padding-top: 2pt; background-color: rgb(220,221,222); font-size: 9pt; vertical-align: bottom; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Series</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Maturity
    <BR>
    Date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 3pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Interest<BR>
    Rate</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 0.7pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Notional/<BR>
    Carrying<BR>
    Amount</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(220,221,222); font-size: 9pt; vertical-align: bottom; padding-top: 2pt; padding-right: 3pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Estimated<BR>
    Fair Value</B></FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="padding-left: 7pt; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; width: 20%; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Series B</FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: rgb(241,241,242); text-align: right; font-size: 9pt; vertical-align: bottom; width: 25%; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">June 12,
    2023</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; width: 15%; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.69</FONT><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; width: 20%; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">100,000,000</FONT></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; width: 20%; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">100,068,034</FONT></FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="padding-left: 7pt; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Series C</FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: rgb(241,241,242); text-align: right; font-size: 9pt; vertical-align: bottom; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">February 8, 2032</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.87</FONT><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">50,000,000</FONT></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">48,062,206</FONT></FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="padding-left: 7pt; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Series D</FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: rgb(241,241,242); text-align: right; font-size: 9pt; vertical-align: bottom; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">August 10, 2032</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.70</FONT><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">100,000,000</FONT></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">94,608,185</FONT></FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-left: 7pt; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Series E</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; background-color: rgb(241,241,242); text-align: right; font-size: 9pt; vertical-align: bottom; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">June 19, 2034</FONT></TD>
    <TD STYLE="padding-right: 3pt; border-bottom: Black 1.5pt solid; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.73</FONT><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">100,000,000</FONT></FONT></TD>
    <TD STYLE="padding-right: 3pt; border-bottom: Black 1.5pt solid; padding-top: 2pt; background-color: rgb(241,241,242); font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">94,142,423</FONT></FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
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    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-size: 7pt"><B>38</B></FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; font-style: normal; font-weight: normal">Aberdeen
    Asia-Pacific Income Fund, Inc.</FONT></TD></TR>
  </TABLE>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Notes
to Financial Statements </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited) (continued)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>9. Revolving Credit Facility</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">On August 4, 2021, the Fund executed an amendment and assignment of the
$100,000,000 senior secured revolving credit loan facility (the &quot;Revolving Credit Facility&quot;) with a syndicate of banks with
The Bank of Nova Scotia, acting as administrative agent. On November 16, 2021, the Fund executed an amendment of the Credit Agreement
that increased the Revolving Credit Facility to $150,000,000. On November 22, 2021, the Fund drew down an additional $10 million and on
March 9 and 15, 2022 the Fund paid down $15,000,000 and $25,000,000, respectively. On April 30, 2022, the Fund had $70,000,000 outstanding
under the Revolving Credit Facility. Under the terms of the Revolving Credit Facility and the Agreement and applicable regulations, the
Fund is required to maintain certain asset coverage ratios for the amount of its outstanding borrowings.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">For the six-month period ended April 30, 2022, the average interest rate
on the Revolving Credit Facility was 1.43% and the average balance of the Revolving Credit Facility was $98,784,530.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Revolving Credit Facility has a term of one year and is not a perpetual
form of leverage; there can be no assurance that the Revolving Credit Facility will be available for renewal on acceptable terms, if at
all. Bank loan fees and expenses included in the Statement of Operations include fees for the renewal of the Revolving Credit Facility
as well as commitment fees for any portion of the loan facility not drawn upon at any time during the period.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>10. Risks of Leveraged Capital Structure</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The Fund may use leverage to the maximum extent permitted by the 1940
Act, which permits leverage to exceed 33 1/3% of the Fund's total assets (including the amount obtained through leverage) in certain market
conditions.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The amounts borrowed under the Revolving Credit Facility and the Notes
and other funds obtained through various forms of leverage, including the Series A MRPS, may be invested to return higher rates than the
rates pursuant to which interests or dividends are paid under such forms of leverage. However, the cost of leverage could exceed the income
earned by the Fund on the proceeds of such leverage. To the extent that the Fund is unable to invest the proceeds from the use of leverage
in assets which pay interest at a rate which exceeds the rate paid on the leverage, the yield on the Fund's common stock will decrease.
In addition, in the event of a general market decline in the value of assets in which the Fund invests, the effect of that decline will
be magnified in the Fund because of the additional assets purchased with the proceeds of the leverage.</P>

</DIV>



<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund's leveraged capital structure creates special risks not associated
with unleveraged funds having similar investment objectives and policies. The funds borrowed pursuant to the Revolving Credit Facility
and the Notes may constitute a substantial lien and burden by reason of their prior claim against the income of the Fund and against the
net assets of the Fund in liquidation. The Fund is limited in its ability to declare dividends or other distributions under the terms
of the various forms of leverage. In the event of an event of default under the Revolving Credit Facility, the lenders have the right
to cause a liquidation of the collateral (i.e., sell portfolio securities and other assets of the Fund) and, if any such default is not
cured, the lenders may be able to control the liquidation as well. In the event of an event of default under the Note Purchase Agreement,
the holders of the Notes have the right to cause a liquidation of the collateral (i.e., sell portfolio securities and other assets of
the Fund). If there exists an event of default under the Securities Purchase Agreement that has not been cured, the holders of the Series
A MRPS have the right to cause the Fund's outstanding borrowings to be immediately due and payable and proceed to protect and enforce
their rights by an action at law, suit in equity or other appropriate proceeding. A liquidation of the Fund's collateral assets in an
event of default, or a voluntary paydown of the Revolving Credit Facility, Series A MRPS or the Notes in order to avoid an event of default,
would typically involve administrative expenses and sometimes penalties. Additionally, such liquidations often involve selling off of
portions of the Fund's assets at inopportune times which can result in losses when markets are unfavorable.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Each of the Revolving Credit Facility Agreement, the Note Purchase Agreement
or the Securities Purchase Agreement relating to the Series A MRPS includes usual and customary covenants for the applicable type of transaction.
These covenants impose on the Fund asset coverage requirements, Fund composition requirements and limits on certain investments, such
as illiquid investments, which are more stringent than those imposed on the Fund by the 1940 Act. The covenants or guidelines could impede
the Investment Manager or Sub-Adviser from fully managing the Fund's portfolio in accordance with the Fund's investment objective and
policies. Furthermore, non-compliance with such covenants or the occurrence of other events could lead to the cancellation of any and/or
all of the forms of leverage. As of April 30, 2022, the Fund was in compliance with all covenants under the agreements relating to the
various forms of leverage.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">During the six-months ended April 30, 2022, the Fund incurred fees of
approximately $312,963 for the Revolving Credit Facility and Notes.</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income
    Fund, Inc.</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in"><FONT STYLE="font-size: 7pt"><B>39</B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Notes
to Financial Statements </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited) (continued)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>11. Portfolio Investment Risks</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>a. Credit and Market Risk:</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">A debt instrument's price depends, in part, on the credit quality of
the issuer, borrower, counterparty, or underlying collateral and can decline in response to changes in the financial condition of the
issuer, borrower, counterparty, or underlying collateral, or changes in specific or general market, economic, industry, political, regulatory,
geopolitical, or other conditions. Funds that invest in high yield and emerging market instruments are subject to certain additional credit
and market risks. The yields of high yield and emerging market debt obligations reflect, among other things, perceived credit risk. The
Fund's investments in securities rated below investment grade typically involve risks not associated with higher rated securities including,
among others, greater risk of not receiving timely and/or ultimate payment of interest and principal, greater market price volatility,
and less liquid secondary market trading.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>b. Interest Rate Risk:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The prices of fixed income securities respond to economic developments,
particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including governments.
Generally, the Fund's fixed income securities will decrease in value if interest rates rise and vice versa, and the volatility of lower-rated
securities is even greater than that of higher-rated securities. Also, longer-term securities are generally more volatile, so the average
maturity or duration of these securities affects risk.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Fund may be subject to a greater risk of rising interest rates due
to the current interest rate environment and the effect of potential government fiscal policy initiatives and resulting market reaction
to those initiatives.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>c. Risks Associated with Foreign Securities and Currencies:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">Investments in securities of foreign issuers carry certain risks not
ordinarily associated with investments in securities of U.S. issuers. These risks include future political and economic developments,
and the possible imposition of exchange controls or other foreign governmental laws and restrictions. In addition, with respect to certain
countries, there is the possibility of expropriation of assets, confiscatory taxation, and political or social instability or diplomatic
developments, which could adversely affect investments in those countries. Foreign securities may also be harder to price than U.S. securities.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Certain countries also may impose substantial restrictions on investments
in their capital markets by foreign entities, including restrictions on investments in issuers of industries deemed sensitive to relevant
national interests. These factors may limit the investment opportunities available and result in a lack of liquidity and high price volatility
with respect to securities of issuers from developing countries.</P>

</DIV>



<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The value of foreign currencies relative to the U.S. Dollar fluctuates
in response to market, economic, political, regulatory, geopolitical or other conditions. A decline in the value of a foreign currency
versus the U.S. Dollar reduces the value in U.S. Dollars of investments denominated in that foreign currency. This risk may impact the
Fund more greatly to the extent the Fund does not hedge its currency risk, or hedging techniques used by the Investment Manager are unsuccessful.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>Russia/Ukraine Risk.</I> In February 2022, Russia commenced a military
attack on Ukraine. The outbreak of hostilities between the two countries and the threat of wider spread hostilities could have a severe
adverse effect on the region and global economies, including significant negative impacts on the markets for certain securities and commodities,
such as oil and natural gas. In addition, sanctions imposed on Russia by the United States and other countries, and any sanctions imposed
in the future, could have a significant adverse impact on the Russian economy and related markets. The price and liquidity of investments
may fluctuate widely as a result of the conflict and related events. How long the armed conflict and related events will last cannot be
predicted. These tensions and any related events could have a significant impact on Fund performance and the value of the Funds' investments.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>d. Focus Risk:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The Fund may have elements of risk not typically associated with investments
in the United States due to focused investments in a limited number of countries or regions subject to foreign securities or currency
risks. Such focused investments may subject the Fund to additional risks resulting from political or economic conditions in such countries
or regions and the possible imposition of adverse governmental laws or currency exchange restrictions could cause the securities and their
markets to be less liquid and their prices to be more volatile than those of comparable U.S. securities.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>e. Risks Associated with Mortgage-backed Securities:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The value of mortgage-backed securities can fall if the owners of the
underlying mortgages default or pay off their mortgages sooner than expected, which could happen when interest rates fall.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>f. High-Yield Bonds and Other Lower-Rated Securities Risk:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-size: 3pt"></FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The Fund's investments in high-yield bonds (commonly referred to as &quot;junk
bonds&quot;) and other lower-rated securities will subject the Fund to substantial risk of loss. Investments in high-yield bonds are speculative
and issuers of these securities are generally considered to be less financially secure and less able to repay interest and principal than
issuers of investment-grade securities. Prices of high-yield bonds tend to be very volatile. These securities are less liquid than</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left; width: 0.25in"><FONT STYLE="font-size: 7pt"><B>40</B></FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left; width: 0.25in">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<DIV STYLE="background-color: rgb(220,221,222)">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt; font-style: normal; font-weight: normal">Notes
to Financial Statements </FONT><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">(unaudited) (continued)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">investment-grade debt securities and may be difficult to price or sell,
particularly in times of negative sentiment toward high-yield securities.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>g. Bank Loan Risk:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">There are a number of risks associated with an investment in bank loans
including credit risk, interest rate risk, illiquid securities risk, and prepayment risk. There is also the possibility that the collateral
securing a loan, if any, may be difficult to liquidate or be insufficient to cover the amount owed under the loan. These risks could cause
the Fund to lose income or principal on a particular investment, which in turn could affect the Fund's returns. In addition, bank loans
may settle on a delayed basis, resulting in the proceeds from the sale of such loans not being readily available to make additional investments
or distributions. To the extent the extended settlement process gives rise to short-term liquidity needs, the Fund may hold additional
cash, sell investments or temporarily borrow from banks or other lenders.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>h. LIBOR Risk:</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">Under the revolving credit facility, the Fund is charged interest on
amounts borrowed at a variable rate, which may be based on the London Interbank Offered Rate (&quot;LIBOR&quot;) plus a spread. The Fund
may invest in certain debt securities, derivatives or other financial instruments that utilize LIBOR as a &quot;benchmark&quot; or &quot;reference
rate&quot; for various interest rate calculations. In July 2017, the United Kingdom Financial Conduct Authority (&quot;FCA&quot;), which
regulates LIBOR, announced a desire to phase out the use of LIBOR by the end of 2021. However, subsequent announcements by the FCA, the
LIBOR administrator and other regulators indicate that it is possible that the most widely used LIBOR rates may continue until mid-2023.
It is anticipated that LIBOR ultimately will be discontinued or the regulator will announce that it is no longer sufficiently robust to
be representative of its underlying market around that time. Although</P>

</DIV>



<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">financial regulators and industry working groups have suggested alternative
reference rates, such as European Interbank Offered Rate (&quot;EURIBOR&quot;), Sterling Overnight Interbank Average Rate (&quot;SONIA&quot;)
and Secured Overnight Financing Rate (&quot;SOFR&quot;), global consensus on alternative rates is lacking and the process for amending
existing contracts or instruments to transition away from LIBOR remains unclear. The elimination of LIBOR or changes to other reference
rates or any other changes or reforms to the determination or supervision of reference rates could have an adverse impact on the market
for, or value of, any securities or payments linked to those reference rates, which may adversely affect the Fund's performance and/or
net asset value. Uncertainty and risk also remain regarding the willingness and ability of issuers and lenders to include revised provisions
in new and existing contracts or instruments. Consequently, the transition away from LIBOR to other reference rates may lead to increased
volatility and illiquidity in markets that are tied to LIBOR, fluctuations in values of LIBOR-related investments or investments in issuers
that utilize LIBOR, increased difficulty in borrowing or refinancing and diminished effectiveness of hedging strategies, adversely affecting
the Fund's performance. Furthermore, the risks associated with the expected discontinuation of LIBOR and transition may be exacerbated
if the work necessary to effect an orderly transition to an alternative reference rate is not completed in a timely manner.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>12. Contingencies</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In the normal course of business, the Fund may provide general indemnifications
pursuant to certain contracts and organizational documents. The Fund's maximum exposure under these arrangements is dependent on future
claims that may be made against the Fund, and therefore, cannot be estimated; however, the Fund expects the risk of loss from such claims
to be remote.</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>



<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>13. Tax Information</B></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: justify; margin: 0pt 0">The U.S. federal income tax basis of the Fund's investments (including
derivatives, if applicable) and the net unrealized depreciation as of April 30, 2022, were as follows:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-left: 6pt; padding-top: 2pt; font-size: 9pt; text-align: left; vertical-align: bottom; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Tax
    Basis of Investments</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Appreciation</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; font-size: 9pt; vertical-align: bottom; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Depreciation</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 2pt; font-size: 9pt; vertical-align: bottom; padding-right: 4pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Net
    Unrealized<BR>
    Depreciation</B></FONT></TD>
    </TR>
  <TR STYLE="font-size: 9pt; background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); padding-left: 6pt; padding-top: 2pt; font-size: 9pt; vertical-align: bottom; width: 25%; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,486,286,625</FONT></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); padding-top: 2pt; font-size: 9pt; vertical-align: bottom; width: 25%; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">&nbsp;$&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">26,442,319</FONT></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); padding-top: 2pt; font-size: 9pt; vertical-align: bottom; width: 25%; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(169,868,809</FONT>)</FONT></TD>
    <TD STYLE="padding-right: 4pt; border-bottom: Black 1.5pt solid; background-color: rgb(241,241,242); padding-top: 2pt; font-size: 9pt; vertical-align: bottom; width: 25%; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-size: 9pt">$&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(143,426,490</FONT>)</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%">

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>14. Recent Rulemaking</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In October 2020, the Securities and Exchange Commission
(&quot;SEC&quot;) adopted new regulations governing the use of derivatives by registered investment companies. Rule 18f-4 will
impose limits on the amount of derivatives a fund could enter into, eliminate the asset segregation framework currently used by
funds to comply with Section 18 of the</P>

</DIV>



<DIV STYLE="float: right; width: 48%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">1940 Act, and require funds whose use of derivatives is more than a limited specified
exposure to establish and maintain a derivatives risk management program and appoint a derivatives risk manager. Management is
currently finalizing the implementation of Rule 18f-4 to meet the August 19, 2022 compliance date.</P>

</DIV>

<DIV STYLE="float: none; clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font: 7pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt">Aberdeen Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="text-align: right; font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-size: 7pt"><B>41</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

</DIV>







<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 18pt">Notes
to Financial Statements </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">(unaudited) (concluded)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">April 30, 2022</P>

<P STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: left; width: 48%"><P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">In
December 2020, the SEC adopted Rule 2a-5 under the 1940 Act, which establishes requirements for determining fair value in good faith
for purposes of the 1940 Act, including related oversight and reporting requirements. The rule also defines when market quotations are
 &quot;readily available&quot; for purposes of the 1940 Act, the threshold for determining whether a fund must fair value a security.
The SEC also adopted new Rule 31a-4 under the 1940 Act, which sets forth the recordkeeping requirements associated with fair value determinations.
Finally, the SEC is rescinding previously issued guidance on related issues, including the role of a board in determining fair value
and the accounting and auditing of fund investments. Rule 2a-5 and Rule 31a-4 became effective on March 8, 2021, with a compliance date
of September 8, 2022. Management is currently evaluating this guidance.</FONT></P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<DIV STYLE="float: right; width: 48%"><P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt"><B>15.
                                      Subsequent Events</B></FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Management
has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the financial statements
were issued. Based on this evaluation, no disclosures and/or adjustments were required to the financial statements as of April 30, 2022.
other than as described below.</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">On
May 10, 2022 and June 9, 2022, the Fund announced that it will pay on May 31, 2022 and June 30, 2022, respectively, a distribution of
U.S. $0.0275 per share to all shareholders of record as of May 20, 2022 and June 22, 2022, respectively.</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">On
May 10, 2022, the Fund sold its interest rate swap agreements with an aggregate notional amount of $70 million.</FONT></P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><B>42</B></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<DIV STYLE="background-color: rgb(221,221,222)">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Supplemental Information </FONT><FONT STYLE="font-size: 11pt">(unaudited)</FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Results of Annual Meeting of Shareholders</B></P>

<P STYLE="text-align: justify; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">The
Annual Meeting of Shareholders was held on April 28, 2022. The description of the proposals and number of shares voted at the meeting
are as follows:</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">To
elect one Class I Director of the Fund, for a three-year term until the 2025 Annual Meeting of Stockholders and until such Director's
successor is duly elected and qualify:</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 85%">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Votes
    For</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding: 1pt 2pt; background-color: rgb(221,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Votes
    Against/Withheld </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding: 1pt 2pt; background-color: rgb(221,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Votes
    Abstained</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding: 1pt 2pt; background-color: rgb(221,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(241,241,242); vertical-align: bottom; width: 52%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Stephen
    Bird</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">160,599,800</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 20%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,814,607</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 15%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,266,926</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">To
consider the continuation of the terms of two Directors under the Fund's Corporate Governance Policies:</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 85%">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Votes
    For</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding: 1pt 2pt; background-color: rgb(221,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Votes
    Against/Withheld </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding: 1pt 2pt; background-color: rgb(221,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Votes
    Abstained</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding: 1pt 2pt; background-color: rgb(221,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding: 1pt 2pt 1pt 0.125in; background-color: rgb(241,241,242); vertical-align: bottom; width: 52%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">P.
    Gerald Malone (Class II &ndash; 3 year term ending 2023)</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">151,680,181</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 20%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">13,633,654</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 15%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,367,498</FONT></TD>
    <TD STYLE="padding: 1pt 2pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(241,241,242); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">William
    Potter (Preferred &ndash; 3 year term ending 2024)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">151,370,248</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">13,878,494</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,432,591</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">For
Preferred Shares Only: To elect one preferred share Director of the Fund, for a three-year term until the 2025 Annual Meeting of Stockholders
and until such Director's successor is duly elected and qualify:</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 85%">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Votes
    For</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; padding: 1pt 2pt; background-color: rgb(221,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Votes
    Against/Withheld </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; padding: 1pt 2pt; background-color: rgb(221,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding: 1pt 2pt; background-color: rgb(221,221,222); vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Votes
    Abstained</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding: 1pt 2pt; background-color: rgb(221,221,222)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt 1pt 0.125in; background-color: rgb(241,241,242); vertical-align: bottom; width: 52%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Moritz
    Sell</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,000,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 20%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); vertical-align: bottom; width: 15%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1pt 2pt; background-color: rgb(241,241,242); width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc</FONT>.</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>43</B></FONT></TD></TR>
</TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<DIV STYLE="background-color: rgb(221,221,222)">

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 18pt">Dividend Reinvestment and Optional Cash
Purchase Plan </FONT><FONT STYLE="font-size: 11pt">(unaudited)</FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt">&nbsp;</FONT></P>

<DIV STYLE="float: left; width: 48%"><P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">The
Fund intends to distribute to stockholders substantially all of its net investment income and to distribute any net realized capital
gains at least annually. Net investment income for this purpose is income other than net realized long-term and short-term capital gains
net of expenses. Pursuant to the Dividend Reinvestment and Optional Cash Purchase Plan (the &quot;Plan&quot;), stockholders whose shares
of common stock are registered in their own names will be deemed to have elected to have all distributions automatically reinvested by
Computershare Trust Company N.A. (the &quot;Plan Agent&quot;) in the Fund shares pursuant to the Plan, unless such stockholders elect
to receive distributions in cash. Stockholders who elect to receive distributions in cash will receive such distributions paid by check
in U.S. Dollars mailed directly to the stockholder by the Plan Agent, as dividend paying agent. In the case of stockholders such as banks,
brokers or nominees that hold shares for others who are beneficial owners, the Plan Agent will administer the Plan on the basis of the
number of shares certified from time to time by the stockholders as representing the total amount registered in such stockholders' names
and held for the account of beneficial owners that have not elected to receive distributions in cash. Investors that own shares registered
in the name of a bank, broker or other nominee should consult with such nominee as to participation in the Plan through such nominee
and may be required to have their shares registered in their own names in order to participate in the Plan. Please note that the Fund
does not issue certificates so all shares will be registered in book entry form. The Plan Agent serves as agent for the stockholders
in administering the Plan. If the Directors of the Fund declare an income dividend or a capital gains distribution payable either in
the Fund's common stock or in cash, nonparticipants in the Plan will receive cash and participants in the Plan will receive common stock,
to be issued by the Fund or purchased by the Plan Agent in the open market, as provided below. If the market price per share (plus expected
per share fees) on the valuation date equals or exceeds NAV per share on that date, the Fund will issue new shares to participants at
NAV; provided, however, that if the NAV is less than 95% of the market price on the valuation date, then such shares will be issued at
95% of the market price. The valuation date will be the payable date for such distribution or dividend or, if that date is not a trading
day on the New York Stock Exchange, the immediately preceding trading date. If NAV exceeds the market price of Fund shares at such time,
or if the Fund should declare an income dividend or capital gains distribution payable only in cash, the Plan Agent will, as agent for
the participants, buy Fund shares in the open market, on the New York Stock Exchange or elsewhere, for the participants' accounts on,
or shortly after, the payment date. If, before the Plan Agent has completed its purchases, the market price exceeds the NAV of a Fund
share, the average per share purchase price paid by the Plan Agent may exceed the NAV of the Fund's shares,</FONT></P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<DIV STYLE="float: right; width: 48%"><P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">resulting
in the acquisition of fewer shares than if the distribution had been paid in shares issued by the Fund on the dividend payment date.
Because of the foregoing difficulty with respect to open-market purchases, the Plan provides that if the Plan Agent is unable to invest
the full dividend amount in open-market purchases during the purchase period or if the market discount shifts to a market premium during
the purchase period, the Plan Agent will cease making open-market purchases and will receive the uninvested portion of the dividend amount
in newly issued shares at the close of business on the last purchase date.</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Participants
have the option of making additional cash payments of a minimum of $50 per investment (by check, one-time online bank debit or recurring
automatic monthly ACH debit) to the Plan Agent for investment in the Fund's common stock, with an annual maximum contribution of $250,000.
The Plan Agent will wait up to three business days after receipt of a check or electronic funds transfer to ensure it receives good funds.
Following confirmation of receipt of good funds, the Plan Agent will use all such funds received from participants to purchase Fund shares
in the open market on the 25<SUP>th</SUP> day of each month or the next trading day if the 25<SUP>th</SUP> is not a trading day.</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">If
the participant sets up recurring automatic monthly ACH debits, funds will be withdrawn from his or her U.S. bank account on the 20<SUP>th
</SUP>of each month or the next business day if the 20<SUP>th</SUP> is not a banking business day and invested on the next investment
date. The Plan Agent maintains all stockholder accounts in the Plan and furnishes written confirmations of all transactions in an account,
including information needed by stockholders for personal and tax records. Shares in the account of each Plan participant will be held
by the Plan Agent in the name of the participant, and each stockholder's proxy will include those shares purchased pursuant to the Plan.
There will be no brokerage charges with respect to common shares issued directly by the Fund. However, each participant will pay a per
share fee of $0.02 incurred with respect to the Plan Agent's open market purchases in connection with the reinvestment of dividends,
capital gains distributions and voluntary cash payments made by the participant. Per share fees include any applicable brokerage commissions
the Plan Agent is required to pay.</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Participants
also have the option of selling their shares through the Plan. The Plan supports two types of sales orders. Batch order sales are submitted
on each market day and will be grouped with other sale requests to be sold. The price will be the average sale price obtained by Computershare's
broker, net of fees, for each batch order and will be sold generally within 2 business days of the request during regular open market
hours. Please note that all written sales requests are always processed by Batch Order. ($10 and $0.12 per share). Market</FONT></P>

</DIV>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="clear: both; width: 100%">

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><B>44</B></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc.</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<DIV STYLE="background-color: rgb(221,221,222)">

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 18pt">Dividend
Reinvestment and Optional Cash Purchase Plan </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">(unaudited)
(concluded)</FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt">&nbsp;</FONT></P>

<DIV STYLE="float: left; width: 49%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Order sales will sell at the next available trade. The shares are sold
real time when they hit the market, however an available trade must be presented to complete this transaction. Market Order sales may
only be requested by phone at 1-800-647-0584 or using Investor Center through www.computershare.com/buyaberdeen. ($25 and $0.12 per share).</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The receipt of dividends and distributions under the Plan will not relieve
participants of any income tax that may be payable on such dividends or distributions. The Fund or the Plan Agent may terminate the Plan
as applied to any voluntary cash payments made and any dividend or distribution paid subsequent to notice of the termination sent to</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<DIV STYLE="float: right; width: 48%">

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">members of the Plan at least 30 days prior to the record date for such
dividend or distribution. The Plan also may be amended by the Fund or the Plan Agent, but (except when necessary or appropriate to comply
with applicable law or the rules or policies of the Securities and Exchange Commission or any other regulatory authority) only by mailing
a written notice at least 30 days' prior to the effective date to the participants in the Plan. All correspondence concerning the Plan
should be directed to the Plan Agent by phone at 1-800-647-0584, using Investor Center through www.computershare.com/buyaberdeen or in
writing to Computershare Trust Company N.A., P.O. Box 505000, Louisville, KY 40233-5000.</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></DIV>

<DIV STYLE="clear: both; width: 100%"></DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 7pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Aberdeen
    Asia-Pacific Income Fund, Inc</FONT>.</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>45</B></FONT></TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<DIV STYLE="background-color: rgb(221,221,222)">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Corporate Information</P>

<P STYLE="border-bottom: Black 1pt solid; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt">&nbsp;</FONT></P>

<DIV STYLE="float: left; width: 48%"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Directors</B></FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Radhika
Ajmera<BR>
Stephen Bird<BR>
P. Gerald Malone, <I>Chairman</I><BR>
William J. Potter<BR>
Moritz Sell</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Investment
Manager</B></FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">abrdn
Asia Limited<BR>
21 Church Street<BR>
#01-01 Capital Square Two<BR>
Singapore 049480</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Investment
Sub-Adviser</B></FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Aberdeen
Asset Managers Limited<BR>
Bow Bells House, 1 Bread Street<BR>
London United Kingdom<BR>
EC4M 9HH</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Administrator</B></FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">abrdn
Inc.<BR>
1900 Market Street, Suite 200<BR>
Philadelphia, PA 19103</FONT></P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<DIV STYLE="float: right; width: 48%"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Custodian</B></FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">State
Street Bank and Trust Company<BR>
1 Lincoln Street<BR>
Boston, MA 02111</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Transfer
Agent</B></FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Computershare
Trust Company N.A.<BR>
P.O. Box 505000<BR>
Louisville, KY 40233</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Independent
Registered Public Accounting Firm</B></FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">KPMG
LLP<BR>
1601 Market Street<BR>
Philadelphia, PA 19103</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Legal
Counsel</B></FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Dechert
LLP<BR>
1900 K Street, N.W.<BR>
Washington, DC 20006</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Investor
Relations</B></FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">abrdn
Inc.<BR>
1900 Market Street, Suite 200<BR>
Philadelphia, PA 19103<BR>
1-800-522-5465<BR>
Investor.Relations@abrdn.com</FONT></P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="clear: both; width: 100%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2211703d13_ncsrsimg003.jpg" ALT=""></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">The
accompanying Financial Statements, as of April 30, 2022, were not audited and accordingly, no opinion is expressed thereon.</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Notice
is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940, as amended, that the Fund may purchase, from
time to time, shares of its common stock in the open market.</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>




<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">The
common shares of Aberdeen Asia-Pacific Income Fund, Inc. are traded on the NYSE American equities exchange under the symbol &quot;FAX&quot;.
Information about the Fund's net asset value and market price is available at www.aberdeenfax.com.</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">This
report, including the financial information herein, is transmitted to the shareholders of Aberdeen Asia-Pacific Income Fund, Inc. for
their general information only. It does not have regard to the specific investment objectives, financial situation and the particular
needs of any specific person. Past performance is no guarantee of future returns.</FONT></P>

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</DIV>

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<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>






<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">FAX SEMI-ANNUAL</P>






<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt"></P>

<P STYLE="margin: 0pt"></P>

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b)&nbsp;Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2. Code of Ethics.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This item is inapplicable to semi-annual report on Form&nbsp;N-CSR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3. Audit Committee Financial Expert.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This item is inapplicable to semi-annual report on Form&nbsp;N-CSR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 4. Principal Accountant Fees and Services.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This item is inapplicable to semi-annual report on Form&nbsp;N-CSR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5. Audit Committee of Listed Registrants.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This item is inapplicable to semi-annual report on Form&nbsp;N-CSR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 6. Investments.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)&nbsp;Schedule of Investments in securities
of unaffiliated issuers as of close of the reporting period is included as part of the Report to Shareholders filed under Item 1 of this
Form&nbsp;N-CSR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End
Management Investment Companies.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This item is inapplicable to semi-annual report on Form&nbsp;N-CSR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8. Portfolio Managers of Closed-End Management Investment Companies.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD>Not applicable to semi-annual report on Form&nbsp;N-CSR.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">There has been no change, as of the date of this filing, in any of the portfolio managers identified in response to paragraph (a)(1)&nbsp;of
this Item in the registrant&rsquo;s most recently filed annual report on Form&nbsp;N-CSR.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9. Purchases of Equity Securities by Closed-End Management
Investment Company and Affiliated Purchasers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No such purchases were made by or on behalf of the Registrant during
the period covered by the report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 10. Submission of Matters to a Vote of Security Holders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">During the period ended April&nbsp;30, 2022, there were no material
changes to the procedures by which shareholders may recommend nominees to the Registrant&rsquo;s Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 11. Controls and Procedures.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s principal executive and principal financial officers, or persons performing similar
functions, have concluded that the Registrant&rsquo;s disclosure controls and procedures (as defined in Rule&nbsp;30a-3(c)&nbsp;under
the Investment Company Act of 1940 (the &ldquo;Act&rdquo;) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing
date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required
by Rule&nbsp;30a-3(b)&nbsp;under the Act (17 CFR 270.30a3(b)) and Rule&nbsp;13a-15(b)&nbsp;or 15d-15(b)&nbsp;under the Securities Exchange
Act of 1934, as amended (17 CFR 240.13a-15(b)&nbsp;or 240.15d15(b)).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">There were no changes in the Registrant&rsquo;s internal control over financial reporting (as defined
in Rule&nbsp;30a-3(d)&nbsp;under the Act (17 CFR 270.30a-3(d))) that occurred during the second fiscal quarter of the period covered by
this report that has materially affected, or is reasonably likely to materially affect, the Registrant&rsquo;s internal control over financial
reporting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"> <B>Item 12 -</B> <B>Disclosure of Securities Lending Activities for Closed-End Management Investment Companies</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Not applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 13. Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(a)(1)</TD><TD STYLE="text-align: justify">Not applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><A HREF="tm2211703d13_ex99-cert.htm">(a)(2)</A></TD><TD STYLE="text-align: justify"><A HREF="tm2211703d13_ex99-cert.htm">The certifications of the registrant as required by Rule&nbsp;30a-2(a)&nbsp;under the Act are exhibits
to this Form&nbsp;N-CSR.</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(a)(3)</TD><TD STYLE="text-align: justify">Any written solicitation to purchase securities under Rule&nbsp;23c-1 under the 1940 Act (17 CFR 270.23c-1)
sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)(4)</TD><TD STYLE="text-align: justify">Change in Registrant&rsquo;s independent public accountant.
Not applicable.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><A HREF="tm2211703d13_ex99-906cert.htm">(b)</A></TD><TD STYLE="text-align: justify"><A HREF="tm2211703d13_ex99-906cert.htm">The certifications of the registrant as required by Rule&nbsp;30a-2(b)&nbsp;under the Act are exhibits
to this Form&nbsp;N-CSR.</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">A copy of the Registrant&rsquo;s notices to stockholders, which accompanied distributions paid, pursuant
to the Registrant&rsquo;s Managed Distribution Policy since the Registrant&rsquo;s last filed N-CSR, are filed herewith as Exhibits <A HREF="tm2211703d13_ex99-c1.htm">(c)(1)</A>,
<A HREF="tm2211703d13_ex99-c2.htm">(c)(2)</A>, <A HREF="tm2211703d13_ex99-c3.htm">(c)(3)</A>, <A HREF="tm2211703d13_ex99-c4.htm">(c)(4)</A>, <A HREF="tm2211703d13_ex99-c5.htm">(c)(5)</A>, <A HREF="tm2211703d13_ex99-c6.htm">(c)(6)</A>&nbsp;and <A HREF="tm2211703d13_ex99-c7.htm">(c)(7)</A>, as required by the terms of the Registrant&rsquo;s SEC exemptive order.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>SIGNATURES</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">abrdn Asia-Pacific Income Fund,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 44%"><I>/s/ Christian Pittard</I></TD>
    <TD STYLE="width: 50%"><I>&nbsp;</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Christian Pittard,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Principal Executive Officer of</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>abrdn Asia-Pacific Income Fund,&nbsp;Inc.</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: July&nbsp;11, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the
Registrant and in the capacities and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 44%"><I>/s/ Christian Pittard</I></TD>
    <TD STYLE="width: 50%"><I>&nbsp;</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Christian Pittard,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Principal Executive Officer of</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>abrdn Asia-Pacific Income Fund,&nbsp;Inc.</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: July&nbsp;11, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 44%"><I>/s/ Andrea Melia</I></TD>
    <TD STYLE="width: 50%"><I>&nbsp;</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Andrea Melia,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Principal Financial Officer of</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>abrdn Asia-Pacific Income Fund,&nbsp;Inc.</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: July&nbsp;11, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0pt"></P>

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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>tm2211703d13_ex99-cert.htm
<DESCRIPTION>EXHIBIT 99.CERT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.CERT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>Certification
Pursuant to Rule&nbsp;30</U></B></FONT><B><U>a<FONT STYLE="text-transform: uppercase">-2(</FONT>a<FONT STYLE="text-transform: uppercase">)&nbsp;under
the 1940 Act and Section&nbsp;302 of the Sarbanes-Oxley Act</FONT></U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Andrea Melia, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD>I have reviewed this report on Form&nbsp;N-CSR of abrdn Asia-Pacific Income Fund,&nbsp;Inc. (the &ldquo;Registrant&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this
report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s other certifying officer(s)&nbsp;and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule&nbsp;30a-3(c)&nbsp;under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule&nbsp;30a-3(d)&nbsp;under the Investment Company Act of 1940) for the Registrant and have:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Evaluated the effectiveness of the Registrant&rsquo;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report based on such evaluation; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: justify">Disclosed in this report any change in the Registrant&rsquo;s internal control over financial reporting
that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
Registrant&rsquo;s internal control over financial reporting; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s other certifying officer(s)&nbsp;and I have disclosed to the Registrant&rsquo;s
auditors and the audit committee of the Registrant&rsquo;s board of directors (or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the Registrant&rsquo;s ability to record, process, summarize, and
report financial information; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Any fraud, whether or not material, that involves management or other employees who have a significant
role in the Registrant&rsquo;s internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</FONT></TD><TD STYLE="text-align: justify">July&nbsp;11, 2022</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Andrea Melia</I></FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrea Melia</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Principal Financial Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>Certification
Pursuant to Rule&nbsp;30</U></B></FONT><B><U>a<FONT STYLE="text-transform: uppercase">-2(</FONT>a<FONT STYLE="text-transform: uppercase">)&nbsp;under
the 1940 Act and Section&nbsp;302 of the Sarbanes-Oxley Act</FONT></U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Christian Pittard, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD>I have reviewed this report on Form&nbsp;N-CSR of abrdn Asia-Pacific Income Fund,&nbsp;Inc. (the &ldquo;Registrant&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this
report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s other certifying officer(s)&nbsp;and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule&nbsp;30a-3(c)&nbsp;under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule&nbsp;30a-3(d)&nbsp;under the Investment Company Act of 1940) for the Registrant and have:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Evaluated the effectiveness of the Registrant&rsquo;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report based on such evaluation; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: justify">Disclosed in this report any change in the Registrant&rsquo;s internal control over financial reporting
that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
Registrant&rsquo;s internal control over financial reporting; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s other certifying officer(s)&nbsp;and I have disclosed to the Registrant&rsquo;s
auditors and the audit committee of the Registrant&rsquo;s board of directors (or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the Registrant&rsquo;s ability to record, process, summarize, and
report financial information; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Any fraud, whether or not material, that involves management or other employees who have a significant
role in the Registrant&rsquo;s internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</FONT></TD><TD STYLE="text-align: justify">July&nbsp;11, 2022</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 50%"><I>/s/ Christian Pittard</I></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Christian Pittard</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Principal Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>tm2211703d13_ex99-906cert.htm
<DESCRIPTION>EXHIBIT 99.906 CERT
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.906CERT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>Certification
Pursuant to Rule&nbsp;30</U></B></FONT><B><U>a<FONT STYLE="text-transform: uppercase">-2(</FONT>b<FONT STYLE="text-transform: uppercase">)&nbsp;under
the 1940 Act and Section&nbsp;906 of the Sarbanes-Oxley Act</FONT></U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Christian Pittard, Principal Executive Officer,
and Andrea Melia, Principal Financial Officer, of abrdn Asia-Pacific Income Fund,&nbsp;Inc. (the &ldquo;Registrant&rdquo;), each certify
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s periodic report on Form&nbsp;N-CSR for the period ended April&nbsp;30, 2022 (the
 &ldquo;Form&nbsp;N-CSR&rdquo;) fully complies with the requirements of Section&nbsp;13(a)&nbsp;or Section&nbsp;15(d)&nbsp;of the Securities
Exchange Act of 1934, as amended, as applicable; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">The information contained in the Form&nbsp;N-CSR fairly presents, in all material respects, the financial
condition and results of operations of the Registrant.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">PRINCIPAL EXECUTIVE OFFICER</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>abrdn Asia-Pacific Income Fund,&nbsp;Inc.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><I>/s/ Christian Pittard</I></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Christian Pittard</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: July&nbsp;11, 2022</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRINCIPAL FINANCIAL OFFICER</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>abrdn Asia-Pacific Income Fund,&nbsp;Inc.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Andrea Melia</I></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrea Melia</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: July&nbsp;11, 2022</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This certification is being furnished solely pursuant
to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002 and is not being filed as part of Form&nbsp;N-CSR or as a separate disclosure document.
A signed original of this written statement, or other document authenticating, acknowledging, or otherwise adopting the signature that
appears in typed form within the electronic version of this written statement required by Section&nbsp;906, has been provided to the Registrant
and will be retained by the Registrant and furnished to the Securities and Exchange Commission or its staff upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(C)(1)
<SEQUENCE>4
<FILENAME>tm2211703d13_ex99-c1.htm
<DESCRIPTION>EXHIBIT 99.(C)(1)
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.(c)(1)</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><IMG SRC="tm2211703d13_ex99-c1img01.jpg" ALT=""></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><B>Press Release</B></P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>For More Information Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Abrdn U.S. Closed-End Funds</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1-800-522-5465</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABRDN U.S. CLOSED-END FUNDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNOUNCE DISTRIBUTION PAYMENT DETAILS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Standard Global Infrastructure Income
Fund (&ldquo;ASGI&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.
(&ldquo;FAX&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Australia Equity Fund,&nbsp;Inc. (&ldquo;IAF&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The India Fund,&nbsp;Inc. (&ldquo;IFN&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Philadelphia, January&nbsp;11, 2022) -The above-noted Abrdn U.S. Closed-End
Funds (the &ldquo;Funds&rdquo; or individually the &ldquo;Fund&rdquo;), today announced that the Funds paid the distributions noted in
the table below on January&nbsp;11, 2022, on a per share basis to all shareholders of record as of December&nbsp;30, 2021 (ex-dividend
date December&nbsp;29, 2021). These dates apply to the Funds listed below with the exception of the Aberdeen Australia Equity Fund,&nbsp;Inc.
(IAF) which paid the distribution on January&nbsp;11, 2022 to all shareholders of record as of November&nbsp;19, 2021 (ex-dividend date
November&nbsp;18, 2021).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Ticker</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Exchange</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 15%; font-size: 10pt; padding-bottom: 1pt">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 15%; font-size: 10pt; padding-bottom: 1pt">NYSE</TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 53%; font-size: 10pt; text-align: left; padding-bottom: 1pt">Aberdeen Standard Global Infrastructure Income Fund</TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; width: 12%; font-size: 10pt; text-align: right">0.1083</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">FAX</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">NYSE American</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">IAF</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">NYSE American</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Aberdeen Australia Equity Income Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">0.1600</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">IFN</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">NYSE</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">The India Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">0.6400</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund has adopted a distribution policy to provide investors with
a stable distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the Aberdeen Australia Equity Fund,&nbsp;Inc. (&ldquo;IAF&rdquo;),
this stock distribution was automatically paid in newly issued shares of the Fund unless otherwise instructed by the shareholder to be
paid in cash. Shares of common stock were issued at the lower of the net asset value (&ldquo;NAV&rdquo;) per share or the market price
per share with a floor for the NAV of not less than 95% of the market price on December&nbsp;20, 2021. The reinvestment price per share
for this distribution was $5.65. Fractional shares were generally settled in cash, except for registered shareholders with book entry
accounts at Computershare Investor Services who had whole and fractional shares added to their account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To have received the Aberdeen Australia Equity Fund,&nbsp;Inc. (&ldquo;IAF&rdquo;)
quarterly distribution payable in January&nbsp;2022 in cash instead of shares of common stock, for shareholders who hold shares in &ldquo;street
name,&rdquo; the bank, brokerage or nominee who holds the shares must have advised the Depository Trust Company as to the full and fractional
shares for which they want the distribution paid in cash by December&nbsp;17, 2021; and for shares that are held in registered form, written
notification for the election of cash by registered shareholders must have been received by Computershare Investor Services prior to December&nbsp;17,
2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under applicable U.S. tax rules, the amount and character of distributable
income for each Fund&rsquo;s fiscal year can be finally determined only as of the end of the Fund&rsquo;s fiscal year. However, under
Section&nbsp;19 of the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;) and related rules, the Funds may be required
to indicate to shareholders the estimated source of certain distributions to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following tables set forth the estimated amounts of the sources
of the distributions for purposes of&nbsp;Section&nbsp;19 of the 1940 Act and the rules&nbsp;adopted thereunder. The tables have been
computed based on generally accepted accounting principles. The tables include estimated amounts and percentages for the current distributions
paid this month as well as for the cumulative distributions paid relating to fiscal year to date, from the following sources: net investment
income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated compositions
of the distributions may vary because the estimated composition may be impacted by future income, expenses and realized gains and losses
on securities and currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund&rsquo;s estimated sources of the current distribution paid
this month and for its current fiscal year to date are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Current Distribution per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment <BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized<BR> Short-Term <BR> Gains **</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized<BR> Long-Term <BR> Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: center; padding-left: 5.4pt">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1083</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0022</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">2</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0011</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">1</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1050</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">97</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0179</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">65</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0096</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">35</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">IAF</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1600</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0176</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0128</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1280</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">80</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0016</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">IFN</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.6400</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0320</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.6080</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">95</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Estimated Amounts of Fiscal Year* to Date Cumulative Distributions per Share</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment<BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized<BR> Short-Term <BR> Gains **</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Long-<BR> Term Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of <BR> Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt; width: 11%">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.3249</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0065</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">2</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0032</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">1</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.3152</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">97</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0550</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0358</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">65</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0192</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">35</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">IAF</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1600</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0176</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0128</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1280</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">80</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0016</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">IFN***</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">3.2100</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1605</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">3.0495</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">95</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* ASGI has a 9/30 fiscal year end; FAX and IAF have a 10/31 fiscal
year end; IFN has 12/31 fiscal year end.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">** includes currency gains.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*** The amount reflected is inclusive of the Fund&rsquo;s four quarterly
distributions for 2021 and the special cash election distribution which is disclosed in an additional press release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Where the estimated amounts above show a portion of the distribution
to be a &ldquo;Return of Capital,&rdquo; it means that Fund estimates that it has distributed more than its income and capital gains;
therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the
money that you invested in a Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund&rsquo;s
investment performance and should not be confused with &ldquo;yield&rdquo; or &ldquo;income.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The amounts and sources of distributions reported in this notice
are only estimates and are not being provided for tax reporting purposes. The final determination of the source of all distributions for
the current year will only be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend
upon the Fund&rsquo;s investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations.
After the end of each calendar year, a Form&nbsp;1099-DIV will be sent to shareholders for the prior calendar year that will tell you
how to report these distributions for federal income tax purposes.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">The following table provides the Funds&rsquo; total return performance
based on net asset value (NAV) over various time periods compared to the Funds&rsquo; annualized and cumulative distribution rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-right: 0.5in; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="17" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Fund Performance and Distribution Rate Information</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="17" STYLE="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Fund</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><B>Average
                                            <BR> Annual Total <BR> Return on NAV <BR> for the 5 Year <BR> Period Ending <BR> 11/30/2021
                                            <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Current Fiscal<BR> Period&rsquo;s <BR> Annualized <BR> Distribution <BR> Rate on NAV </B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Total Return <BR> on NAV <SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Distribution <BR> Rate on NAV <SUP>2</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font-size: 10pt">ASGI <SUP>2</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">14.06</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%<SUP>3</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">5.88</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">0.34</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">0.98</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">FAX <SUP>2</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4.08</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7.67</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(1.16</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.64</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">IFN <SUP>2</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">13.05</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9.75</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">14.78</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7.25</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Return data is net of all Fund expenses and fees and assumes
the reinvestment of all distributions reinvested at prices obtained under the Fund&rsquo;s dividend reinvestment plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2 </SUP>Based on the Fund&rsquo;s NAV as of November&nbsp;30,
2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> The Fund launched within the past 5 years; the performance
and distribution rate information presented reflects data from inception (July&nbsp;29, 2020) through November&nbsp;30, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-right: 0.5in; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="17" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Fund Performance and Distribution Rate Information</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Average
                                            <BR> Annual Total <BR> Return on <BR> NAV for the 5 <BR> Year Period <BR> Ending <BR> 10/31/2021
                                            <SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Current Fiscal <BR> Period&rsquo;s <BR> Annualized <BR> Distribution <BR> Rate on NAV </B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Total Return <BR> on NAV <SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Distribution <BR> Rate on NAV <SUP>2</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font-size: 10pt">IAF <SUP>2</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">12.43</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">9.16</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">38.09</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">9.16</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Return data is net of all Fund expenses and fees and assumes
the reinvestment of all distributions reinvested at prices obtained under the Fund&rsquo;s dividend reinvestment plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2 </SUP>Based on the Fund&rsquo;s NAV as of October&nbsp;31, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Shareholders should not draw any conclusions about a Fund&rsquo;s
investment performance from the amount of the Fund&rsquo;s current distributions or from the terms of the distribution policy (the &ldquo;Distribution
Policy&rdquo;).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While NAV performance may be indicative of the Fund&rsquo;s investment
performance, it does not measure the value of a shareholder&rsquo;s investment in the Fund. The value of a shareholder&rsquo;s investment
in the Fund is determined by the Fund&rsquo;s market price, which is based on the supply and demand for the Fund&rsquo;s shares in the
open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to an exemptive order granted by the Securities and Exchange
Commission, the Funds may distribute any long-term capital gains more frequently than the limits provided in Section&nbsp;19(b)&nbsp;under
the 1940 Act and Rule&nbsp;19b-1 thereunder. Therefore, distributions paid by the Funds during the year may include net income, short-term
capital gains, long-term capital gains and/or a return of capital. Net income dividends and short-term capital gain dividends, while generally
taxable at ordinary income rates, may be eligible, to the extent of qualified dividend income earned by the Funds, to be taxed at a lower
rate not to exceed the maximum rate applicable to your long-term capital gains. Distributions made in any calendar year in excess of investment
company taxable income and net capital gain are treated as taxable ordinary dividends to the extent of undistributed earnings and profits,
and then as a return of capital that reduces the adjusted basis in the shares held. To the extent return of capital distributions exceed
the adjusted basis in the shares held, capital gain is recognized with a holding period based on the period the shares have been held
at the date such amount is received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The payment of distributions in accordance with the Distribution Policy
may result in a decrease in the Fund&rsquo;s net assets. A decrease in the Fund&rsquo;s net assets may cause an increase in the Fund&rsquo;s
annual operating expense ratio and a decrease in the Fund&rsquo;s market price per share to the extent the market price correlates closely
to the Fund&rsquo;s net asset value per share. The Distribution Policy may also negatively affect the Fund&rsquo;s investment activities
to the extent that the Fund is required to hold larger cash positions than it typically would hold or to the extent that the Fund must
liquidate securities that it would not have sold, for the purpose of paying the distribution. Each Fund&rsquo;s Board has the right to
amend, suspend or terminate the Distribution Policy at any time. The amendment, suspension or termination of the Distribution Policy may
affect the Fund&rsquo;s market price per share. Investors should consult their tax advisor regarding federal, state and local tax considerations
that may be applicable in their particular circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Circular 230 disclosure</U>: To ensure compliance with requirements
imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not
intended or written to be used, and cannot be used, for the purpose of (i)&nbsp;avoiding penalties under the Internal Revenue Code or
(ii)&nbsp;promoting, marketing or recommending to another party any transaction or matter addressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the United States, abrdn is the marketing name for the following
affiliated, registered investment advisers: abrdn Inc., Aberdeen Asset Managers Ltd., abrdn Australia Limited, abrdn Asia Limited, Aberdeen
Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Aberdeen Standard Alternative Funds Limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Closed-end funds are traded on the secondary market through one of
the stock exchanges. A Fund&rsquo;s investment return and principal value will fluctuate so that an investor&rsquo;s shares may be worth
more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount)&nbsp;the net asset
value (NAV) of the fund&rsquo;s portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance
does not guarantee future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border: Black 1.5pt solid">If you wish to receive
this information electronically, please contact Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: blue"><FONT STYLE="color: Black"><U>https://www.abrdn.com/en-us/cefinvestorcenter/fund-centre/closed-end-funds</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

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<DOCUMENT>
<TYPE>EX-99.(C)(2)
<SEQUENCE>5
<FILENAME>tm2211703d13_ex99-c2.htm
<DESCRIPTION>EXHIBIT 99.(C)(2)
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.(c)(2)</B></P>

<P STYLE="text-align: right; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><IMG SRC="tm2211703d13_ex99-c2img01.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Press Release</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>For More Information Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Abrdn U.S. Closed-End Funds</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1-800-522-5465</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABRDN U.S. CLOSED-END FUNDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNOUNCE DISTRIBUTION PAYMENT DETAILS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Standard Global Infrastructure Income
Fund (&ldquo;ASGI&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.
(&ldquo;FAX&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Philadelphia, January&nbsp;31, 2022) -The above-noted Abrdn U.S. Closed-End
Funds (the &ldquo;Funds&rdquo; or individually the &ldquo;Fund&rdquo;), today announced that the Funds paid the distributions noted in
the table below on January&nbsp;31, 2022, on a per share basis to all shareholders of record as of January&nbsp;24, 2022 (ex-dividend
date January&nbsp;21, 2022).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Ticker</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Exchange</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 15%; font-size: 10pt">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 15%; font-size: 10pt">NYSE</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 53%; font-size: 10pt; text-align: left">Aberdeen Standard Global Infrastructure Income Fund</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">0.1083</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">NYSE American</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund has adopted a distribution policy to provide investors with
a stable distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under applicable U.S. tax rules, the amount and character of distributable
income for each Fund&rsquo;s fiscal year can be finally determined only as of the end of the Fund&rsquo;s fiscal year. However, under
Section&nbsp;19 of the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;) and related rules, the Funds may be required
to indicate to shareholders the estimated source of certain distributions to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following tables set forth the estimated amounts of the sources
of the distributions for purposes of Section&nbsp;19 of the 1940 Act and the rules&nbsp;adopted thereunder. The tables have been computed
based on generally accepted accounting principles. The tables include estimated amounts and percentages for the current distributions
paid this month as well as for the cumulative distributions paid relating to fiscal year to date, from the following sources: net investment
income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated compositions
of the distributions may vary because the estimated composition may be impacted by future income, expenses and realized gains and losses
on securities and currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund&rsquo;s estimated sources of the current distribution paid
this month and for its current fiscal year to date are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Current Distribution per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment <BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized<BR> Short-Term <BR> Gains **</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized <BR> Long-Term <BR> Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of <BR> Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: center; padding-left: 5.4pt">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1083</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0011</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">1</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1072</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">99</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0168</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">61</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0107</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">39</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Fiscal Year* to Date Cumulative Distributions per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment <BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized<BR> Short-Term <BR> Gains **</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized <BR> Long-Term <BR> Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of <BR>
Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: center; padding-left: 5.4pt">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.4332</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0043</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">1</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.4289</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">99</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0825</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0503</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">61</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0322</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">39</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* ASGI has a 9/30 fiscal year end; FAX has a 10/31 fiscal year end.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">**includes currency gains.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Where the estimated amounts above show a portion of the distribution
to be a &ldquo;Return of Capital,&rdquo; it means that Fund estimates that it has distributed more than its income and capital gains;
therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the
money that you invested in a Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund&rsquo;s
investment performance and should not be confused with &ldquo;yield&rdquo; or &ldquo;income.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The amounts and sources of distributions reported in this notice
are only estimates and are not being provided for tax reporting purposes. The final determination of the source of all distributions for
the current year will only be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend
upon the Fund&rsquo;s investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations.
After the end of each calendar year, a Form&nbsp;1099-DIV will be sent to shareholders for the prior calendar year that will tell you
how to report these distributions for federal income tax purposes.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table provides the Funds&rsquo; total return performance
based on net asset value (NAV) over various time periods compared to the Funds&rsquo; annualized and cumulative distribution rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-right: 0.5in; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Fund Performance and Distribution Rate Information</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Average
                                            <BR> Annual Total <BR> Return on NAV <BR> for the 5 Year <BR> Period Ending <BR> 12/31/2021
                                            <SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Current Fiscal <BR> Period&rsquo;s <BR> Annualized <BR> Distribution <BR> Rate on NAV </B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Total Return <BR> on NAV <SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Distribution <BR> Rate on NAV <SUP>2</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font-size: 10pt">ASGI <SUP>2</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">16.91</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%<SUP>3</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">5.64</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">5.12</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">1.41</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">FAX <SUP>2</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4.51</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7.66</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(0.23</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.28</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Return data is net of all Fund expenses and fees and assumes
the reinvestment of all distributions reinvested at prices obtained under the Fund&rsquo;s dividend reinvestment plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2 </SUP>Based on the Fund&rsquo;s NAV as of December&nbsp;31,
2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> The Fund launched within the past 5 years; the performance
and distribution rate information presented reflects data from inception (July&nbsp;29, 2020) through December&nbsp;31, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Shareholders should not draw any conclusions about a Fund&rsquo;s
investment performance from the amount of the Fund&rsquo;s current distributions or from the terms of the distribution policy (the &ldquo;Distribution
Policy&rdquo;).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While NAV performance may be indicative of the Fund&rsquo;s investment
performance, it does not measure the value of a shareholder&rsquo;s investment in the Fund. The value of a shareholder&rsquo;s investment
in the Fund is determined by the Fund&rsquo;s market price, which is based on the supply and demand for the Fund&rsquo;s shares in the
open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to an exemptive order granted by the Securities and Exchange
Commission, the Funds may distribute any long-term capital gains more frequently than the limits provided in Section&nbsp;19(b)&nbsp;under
the 1940 Act and Rule&nbsp;19b-1 thereunder. Therefore, distributions paid by the Funds during the year may include net income, short-term
capital gains, long-term capital gains and/or a return of capital. Net income dividends and short-term capital gain dividends, while generally
taxable at ordinary income rates, may be eligible, to the extent of qualified dividend income earned by the Funds, to be taxed at a lower
rate not to exceed the maximum rate applicable to your long-term capital gains. Distributions made in any calendar year in excess of investment
company taxable income and net capital gain are treated as taxable ordinary dividends to the extent of undistributed earnings and profits,
and then as a return of capital that reduces the adjusted basis in the shares held. To the extent return of capital distributions exceed
the adjusted basis in the shares held, capital gain is recognized with a holding period based on the period the shares have been held
at the date such amount is received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The payment of distributions in accordance with the Distribution Policy
may result in a decrease in the Fund&rsquo;s net assets. A decrease in the Fund&rsquo;s net assets may cause an increase in the Fund&rsquo;s
annual operating expense ratio and a decrease in the Fund&rsquo;s market price per share to the extent the market price correlates closely
to the Fund&rsquo;s net asset value per share. The Distribution Policy may also negatively affect the Fund&rsquo;s investment activities
to the extent that the Fund is required to hold larger cash positions than it typically would hold or to the extent that the Fund must
liquidate securities that it would not have sold, for the purpose of paying the distribution. Each Fund&rsquo;s Board has the right to
amend, suspend or terminate the Distribution Policy at any time. The amendment, suspension or termination of the Distribution Policy may
affect the Fund&rsquo;s market price per share. Investors should consult their tax advisor regarding federal, state and local tax considerations
that may be applicable in their particular circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Circular 230 disclosure</U>: To ensure compliance with requirements
imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not
intended or written to be used, and cannot be used, for the purpose of (i)&nbsp;avoiding penalties under the Internal Revenue Code or
(ii)&nbsp;promoting, marketing or recommending to another party any transaction or matter addressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the United States, abrdn is the marketing name for the following
affiliated, registered investment advisers: abrdn Inc., Aberdeen Asset Managers Ltd., abrdn Australia Limited, abrdn Asia Limited, Aberdeen
Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Aberdeen Standard Alternative Funds Limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Closed-end funds are traded on the secondary market through one of
the stock exchanges. A Fund&rsquo;s investment return and principal value will fluctuate so that an investor&rsquo;s shares may be worth
more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount)&nbsp;the net asset
value (NAV) of the fund&rsquo;s portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance
does not guarantee future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border: Black 1.5pt solid">If you wish to receive
this information electronically, please contact Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: blue"><FONT STYLE="color: Black"><U>https://www.abrdn.com/en-us/cefinvestorcenter/fund-centre/closed-end-funds</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(C)(3)
<SEQUENCE>6
<FILENAME>tm2211703d13_ex99-c3.htm
<DESCRIPTION>EXHIBIT 99.(C)(3)
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.(c)(3)</B></P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><IMG SRC="tm2211703d13_ex99-c3img01.jpg" ALT="">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><B>Press Release</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>For More Information Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">abrdn U.S. Closed-End Funds</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1-800-522-5465</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABRDN U.S. CLOSED-END FUNDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNOUNCE DISTRIBUTION PAYMENT DETAILS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Standard Global Infrastructure Income
Fund (&ldquo;ASGI&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.
(&ldquo;FAX&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Philadelphia, February&nbsp;28, 2022) -The above-noted abrdn U.S.
Closed-End Funds (the &ldquo;Funds&rdquo; or individually the &ldquo;Fund&rdquo;), today announced that the Funds paid the distributions
noted in the table below on February&nbsp;28, 2022, on a per share basis to all shareholders of record as of February&nbsp;22, 2022 (ex-dividend
date February&nbsp;18, 2022).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Ticker</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Exchange</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 15%; font-size: 10pt">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 15%; font-size: 10pt">NYSE</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 53%; font-size: 10pt; text-align: left">Aberdeen Standard Global Infrastructure Income Fund</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">0.1083</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">NYSE American</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund has adopted a distribution policy to provide investors with
a stable distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under applicable U.S. tax rules, the amount and character of distributable
income for each Fund&rsquo;s fiscal year can be finally determined only as of the end of the Fund&rsquo;s fiscal year. However, under
Section&nbsp;19 of the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;) and related rules, the Funds may be required
to indicate to shareholders the estimated source of certain distributions to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following tables set forth the estimated amounts of the sources
of the distributions for purposes of Section&nbsp;19 of the 1940 Act and the rules&nbsp;adopted thereunder. The tables have been computed
based on generally accepted accounting principles. The tables include estimated amounts and percentages for the current distributions
paid this month as well as for the cumulative distributions paid relating to fiscal year to date, from the following sources: net investment
income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated compositions
of the distributions may vary because the estimated composition may be impacted by future income, expenses and realized gains and losses
on securities and currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund&rsquo;s estimated sources of the current distribution paid
this month and for its current fiscal year to date are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Current Distribution per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment <BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Short-Term<BR> Gains**</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Long-<BR> Term Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: center">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1083</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0011</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">1</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1072</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">99</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0162</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">59</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0113</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">41</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Fiscal Year* to Date Cumulative Distributions per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution<BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment <BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized<BR> Short-Term <BR> Gains **</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized <BR> Long-Term <BR> Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of <BR> Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: center; padding-left: 5.4pt">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.5415</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0054</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">1</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.5361</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">99</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1100</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0649</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">59</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0451</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">41</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* ASGI has a 9/30 fiscal year end; FAX has a 10/31 fiscal year end.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">**includes currency gains.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Where the estimated amounts above show a portion of the distribution
to be a &ldquo;Return of Capital,&rdquo; it means that Fund estimates that it has distributed more than its income and capital gains;
therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the
money that you invested in a Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund&rsquo;s
investment performance and should not be confused with &ldquo;yield&rdquo; or &ldquo;income.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The amounts and sources of distributions reported in this notice
are only estimates and are not being provided for tax reporting purposes. The final determination of the source of all distributions for
the current year will only be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend
upon the Fund&rsquo;s investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations.
After the end of each calendar year, a Form&nbsp;1099-DIV will be sent to shareholders for the prior calendar year that will tell you
how to report these distributions for federal income tax purposes.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table provides the Funds&rsquo; total return performance
based on net asset value (NAV) over various time periods compared to the Funds&rsquo; annualized and cumulative distribution rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-right: 0.5in; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Fund Performance and Distribution Rate Information</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Average
                                            <BR> Annual Total <BR> Return on NAV <BR> for the 5 Year <BR> Period Ending <BR> 01/31/2022<SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Current Fiscal <BR> Period&rsquo;s <BR> Annualized <BR> Distribution <BR> Rate on NAV</B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Total Return <BR> on NAV<SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Distribution <BR> Rate on NAV<SUP>2</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font-size: 10pt; text-align: left">ASGI<SUP>2</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">13.92</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%<SUP>3</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">5.82</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">2.43</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">1.94</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">FAX<SUP>2</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.20</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7.93</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(2.98</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.98</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Return data is net of all Fund expenses and fees and assumes
the reinvestment of all distributions reinvested at prices obtained under the Fund&rsquo;s dividend reinvestment plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2 </SUP>Based on the Fund&rsquo;s NAV as of January&nbsp;31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> The Fund launched within the past 5 years; the performance
and distribution rate information presented reflects data from inception (July&nbsp;29, 2020) through January&nbsp;31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Shareholders should not draw any conclusions about a Fund&rsquo;s
investment performance from the amount of the Fund&rsquo;s current distributions or from the terms of the distribution policy (the &ldquo;Distribution
Policy&rdquo;).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While NAV performance may be indicative of the Fund&rsquo;s investment
performance, it does not measure the value of a shareholder&rsquo;s investment in the Fund. The value of a shareholder&rsquo;s investment
in the Fund is determined by the Fund&rsquo;s market price, which is based on the supply and demand for the Fund&rsquo;s shares in the
open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to an exemptive order granted by the Securities and Exchange
Commission, the Funds may distribute any long-term capital gains more frequently than the limits provided in Section&nbsp;19(b)&nbsp;under
the 1940 Act and Rule&nbsp;19b-1 thereunder. Therefore, distributions paid by the Funds during the year may include net income, short-term
capital gains, long-term capital gains and/or a return of capital. Net income dividends and short-term capital gain dividends, while generally
taxable at ordinary income rates, may be eligible, to the extent of qualified dividend income earned by the Funds, to be taxed at a lower
rate not to exceed the maximum rate applicable to your long-term capital gains. Distributions made in any calendar year in excess of investment
company taxable income and net capital gain are treated as taxable ordinary dividends to the extent of undistributed earnings and profits,
and then as a return of capital that reduces the adjusted basis in the shares held. To the extent return of capital distributions exceed
the adjusted basis in the shares held, capital gain is recognized with a holding period based on the period the shares have been held
at the date such amount is received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The payment of distributions in accordance with the Distribution Policy
may result in a decrease in the Fund&rsquo;s net assets. A decrease in the Fund&rsquo;s net assets may cause an increase in the Fund&rsquo;s
annual operating expense ratio and a decrease in the Fund&rsquo;s market price per share to the extent the market price correlates closely
to the Fund&rsquo;s net asset value per share. The Distribution Policy may also negatively affect the Fund&rsquo;s investment activities
to the extent that the Fund is required to hold larger cash positions than it typically would hold or to the extent that the Fund must
liquidate securities that it would not have sold, for the purpose of paying the distribution. Each Fund&rsquo;s Board has the right to
amend, suspend or terminate the Distribution Policy at any time. The amendment, suspension or termination of the Distribution Policy may
affect the Fund&rsquo;s market price per share. Investors should consult their tax advisor regarding federal, state and local tax considerations
that may be applicable in their particular circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Circular 230 disclosure</U>: To ensure compliance with requirements
imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not
intended or written to be used, and cannot be used, for the purpose of (i)&nbsp;avoiding penalties under the Internal Revenue Code or
(ii)&nbsp;promoting, marketing or recommending to another party any transaction or matter addressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the United States, abrdn is the marketing name for the following
affiliated, registered investment advisers: abrdn Inc., Aberdeen Asset Managers Ltd., abrdn Australia Limited, abrdn Asia Limited, Aberdeen
Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Aberdeen Standard Alternative Funds Limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Closed-end funds are traded on the secondary market through one of
the stock exchanges. A Fund&rsquo;s investment return and principal value will fluctuate so that an investor&rsquo;s shares may be worth
more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount)&nbsp;the net asset
value (NAV) of the fund&rsquo;s portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance
does not guarantee future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border: Black 1.5pt solid">If you wish to receive
this information electronically, please contact Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: blue"><FONT STYLE="color: Black"><U>https://www.abrdn.com/en-us/cefinvestorcenter/fund-centre/closed-end-funds</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(C)(4)
<SEQUENCE>7
<FILENAME>tm2211703d13_ex99-c4.htm
<DESCRIPTION>EXHIBIT 99.(C)(4)
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.(c)(4)</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><IMG SRC="tm2211703d13_ex99-c4img01.jpg" ALT="">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Press
Release</B></FONT></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>For More Information Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">abrdn U.S. Closed-End Funds</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1-800-522-5465</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABRDN U.S. CLOSED-END FUNDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNOUNCE DISTRIBUTION PAYMENT DETAILS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Standard Global Infrastructure Income
Fund (&ldquo;ASGI&rdquo;)</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.
(&ldquo;FAX&rdquo;)</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Australia Equity Fund,&nbsp;Inc. (&ldquo;IAF&rdquo;)</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The India Fund,&nbsp;Inc. (&ldquo;IFN&rdquo;)</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Japan Equity Fund,&nbsp;Inc. (&ldquo;JEQ&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Philadelphia, March&nbsp;31, 2022) -The above-noted abrdn U.S. Closed-End
Funds (the &ldquo;Funds&rdquo; or individually the &ldquo;Fund&rdquo;), today announced that the Funds paid the distributions noted in
the table below on March&nbsp;31, 2022, on a per share basis to all shareholders of record as of March&nbsp;24, 2022 (ex-dividend date
March&nbsp;23, 2022). These dates apply to the Funds listed below with the exception of the Aberdeen Australia Equity Fund,&nbsp;Inc.
(IAF) which paid the distribution on March&nbsp;31, 2022 to all shareholders of record as of February&nbsp;22, 2022 (ex-dividend date
February&nbsp;18, 2022).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Ticker</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Exchange</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 15%; font-size: 10pt">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 15%; font-size: 10pt">NYSE</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 53%; font-size: 10pt; text-align: left">Aberdeen Standard Global Infrastructure Income Fund</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">0.1083</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">NYSE American</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">IAF</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">NYSE American</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Aberdeen Australia Equity Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1500</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">IFN</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">NYSE</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">The India Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.5800</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">JEQ</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">NYSE</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Aberdeen Japan Equity Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1500</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund has adopted a distribution policy to provide investors with
a stable distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the Aberdeen Australia Equity Fund,&nbsp;Inc. (&ldquo;IAF&rdquo;),
this stock distribution was automatically paid in newly issued shares of the Fund unless otherwise instructed by the shareholder to be
paid in cash. Shares of common stock were issued at the lower of the net asset value (&ldquo;NAV&rdquo;) per share or the market price
per share with a floor for the NAV of not less than 95% of the market price on March&nbsp;22, 2022. The reinvestment price per share for
this distribution was $6.10. Fractional shares were generally settled in cash, except for registered shareholders with book entry accounts
at Computershare Investor Services who had whole and fractional shares added to their account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To have received the Aberdeen Australia Equity Fund,&nbsp;Inc. (&ldquo;IAF&rdquo;)
quarterly distribution payable in March&nbsp;2022 in cash instead of shares of common stock, for shareholders who hold shares in &ldquo;street
name,&rdquo; the bank, brokerage or nominee who holds the shares must have advised the Depository Trust Company as to the full and fractional
shares for which they want the distribution paid in cash by March&nbsp;18, 2022; and for shares that are held in registered form, written
notification for the election of cash by registered shareholders must have been received by Computershare Investor Services prior to March&nbsp;18,
2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under applicable U.S. tax rules, the amount and character of distributable
income for each Fund&rsquo;s fiscal year can be finally determined only as of the end of the Fund&rsquo;s fiscal year. However, under
Section&nbsp;19 of the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;) and related rules, the Funds may be required
to indicate to shareholders the estimated source of certain distributions to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following tables set forth the estimated amounts of the sources
of the distributions for purposes of Section&nbsp;19 of the 1940 Act and the rules&nbsp;adopted thereunder. The tables have been computed
based on generally accepted accounting principles. The tables include estimated amounts and percentages for the current distributions
paid this month as well as for the cumulative distributions paid relating to fiscal year to date, from the following sources: net investment
income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated compositions
of the distributions may vary because the estimated composition may be impacted by future income, expenses and realized gains and losses
on securities and currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund&rsquo;s estimated sources of the current distribution paid
this month and for its current fiscal year to date are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Current Distribution per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment <BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Short-Term <BR> Gains**</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Long-<BR> Term Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: center">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1083</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0022</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">2</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1061</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">98</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0160</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">58</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0115</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">42</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center">IAF</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1500</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0390</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">26</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0960</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">64</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0150</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">10</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">IFN</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.5800</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.5800</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center">JEQ</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1500</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0255</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">17</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1245</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">83</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Fiscal Year* to Date Cumulative Distributions per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized<BR> Short-Term <BR> Gains **</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Long-Term <BR> Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of <BR> Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: center">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.6498</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0130</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">2</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.6368</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">98</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1375</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0798</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">58</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0577</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">42</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center">IAF</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.3100</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0806</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">26</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1984</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">64</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0310</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">10</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">IFN</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.5800</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.5800</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center">JEQ</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">1.1305</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1922</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">17</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.9383</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">83</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* ASGI has a 9/30 fiscal year end; FAX,&nbsp;IAF and JEQ have a 10/31
fiscal year end; IFN has a 12/31 fiscal year end.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">**includes currency gains.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Where the estimated amounts above show a portion of the distribution
to be a &ldquo;Return of Capital,&rdquo; it means that Fund estimates that it has distributed more than its income and capital gains;
therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the
money that you invested in a Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund&rsquo;s
investment performance and should not be confused with &ldquo;yield&rdquo; or &ldquo;income.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The amounts and sources of distributions reported in this notice
are only estimates and are not being provided for tax reporting purposes. The final determination of the source of all distributions for
the current year will only be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend
upon the Fund&rsquo;s investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations.
After the end of each calendar year, a Form&nbsp;1099-DIV will be sent to shareholders for the prior calendar year that will tell you
how to report these distributions for federal income tax purposes.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table provides the Funds&rsquo; total return performance
based on net asset value (NAV) over various time periods compared to the Funds&rsquo; annualized and cumulative distribution rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-right: 0.5in; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Fund Performance and Distribution Rate Information</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Average <BR> Annual
    Total <BR> Return on NAV <BR> for the 5 Year <BR> Period Ending <BR> 02/28/2022<SUP>1</SUP></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Current Fiscal <BR> Period&rsquo;s <BR> Annualized <BR> Distribution <BR> Rate on NAV</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Cumulative <BR> Total
    Return <BR> on NAV<SUP>1</SUP></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Cumulative <BR> Distribution
    <BR> Rate on NAV<SUP>2</SUP></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font-size: 10pt; text-align: left">ASGI<SUP>2</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">13.22</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%<SUP>3</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">5.85</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">2.44</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">2.44</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">FAX<SUP>2</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.22</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8.25</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(5.98</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.75</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">IFN</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9.85</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">n/a<SUP></SUP></TD><TD STYLE="font-size: 10pt; text-align: left"><SUP>4</SUP>&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-8.01</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">n/a<SUP></SUP></TD><TD STYLE="font-size: 10pt; text-align: left"><SUP>4</SUP>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">JEQ</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5.10</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11.91</TD><TD STYLE="font-size: 10pt; text-align: left">%<SUP>5</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-13.85</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11.91</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Return data is net of all Fund expenses and fees and assumes
the reinvestment of all distributions reinvested at prices obtained under the Fund&rsquo;s dividend reinvestment plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2 </SUP>Based on the Fund&rsquo;s NAV as of February&nbsp;28,
2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> The Fund launched within the past 5 years; the performance
and distribution rate information presented reflects data from inception (July&nbsp;29, 2020) through February&nbsp;28, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>4</SUP> The Fund&rsquo;s fiscal period to date is 1/1/2022 to
2/28/2022 and there were no distributions in this period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>5</SUP> Due to the Fund&rsquo;s annual distribution policy in
place in 2021, the percentage shown represents the per share annual distribution of income and capital divided by the Fund&rsquo;s NAV
as of February&nbsp;28, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*The Fund&rsquo;s fiscal period to date is 1/1/2022 to 2/28/2022 and
there were no distributions in this period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-right: 0.5in; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Fund Performance and Distribution Rate Information</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; width: 20%; font-size: 10pt; font-weight: bold">Fund</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 17%; font-size: 10pt; font-weight: bold; text-align: center"><B>Average
                                            <BR> Annual Total <BR> Return on <BR> NAV for the 5 <BR> Year Period <BR> Ending <BR> 01/31/2022
                                            <SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 17%; font-size: 10pt; font-weight: bold; text-align: center"><B>Current Fiscal <BR> Period&rsquo;s<BR> Annualized <BR> Distribution <BR> Rate on NAV </B></TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 17%; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Total Return <BR> on NAV <SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 17%; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Distribution <BR> Rate on NAV <SUP>2</SUP></B></TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">IAF <SUP>2</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8.33</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11.43</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(10.58</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.86</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Return data is net of all Fund expenses and fees and assumes
the reinvestment of all distributions reinvested at prices obtained under the Fund&rsquo;s dividend reinvestment plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2 </SUP>Based on the Fund&rsquo;s NAV as of January&nbsp;31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Shareholders should not draw any conclusions about a Fund&rsquo;s
investment performance from the amount of the Fund&rsquo;s current distributions or from the terms of the distribution policy (the &ldquo;Distribution
Policy&rdquo;).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While NAV performance may be indicative of the Fund&rsquo;s investment
performance, it does not measure the value of a shareholder&rsquo;s investment in the Fund. The value of a shareholder&rsquo;s investment
in the Fund is determined by the Fund&rsquo;s market price, which is based on the supply and demand for the Fund&rsquo;s shares in the
open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to an exemptive order granted by the Securities and Exchange
Commission, the Funds may distribute any long-term capital gains more frequently than the limits provided in Section&nbsp;19(b)&nbsp;under
the 1940 Act and Rule&nbsp;19b-1 thereunder. Therefore, distributions paid by the Funds during the year may include net income, short-term
capital gains, long-term capital gains and/or a return of capital. Net income dividends and short-term capital gain dividends, while generally
taxable at ordinary income rates, may be eligible, to the extent of qualified dividend income earned by the Funds, to be taxed at a lower
rate not to exceed the maximum rate applicable to your long-term capital gains. Distributions made in any calendar year in excess of investment
company taxable income and net capital gain are treated as taxable ordinary dividends to the extent of undistributed earnings and profits,
and then as a return of capital that reduces the adjusted basis in the shares held. To the extent return of capital distributions exceed
the adjusted basis in the shares held, capital gain is recognized with a holding period based on the period the shares have been held
at the date such amount is received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The payment of distributions in accordance with the Distribution Policy
may result in a decrease in the Fund&rsquo;s net assets. A decrease in the Fund&rsquo;s net assets may cause an increase in the Fund&rsquo;s
annual operating expense ratio and a decrease in the Fund&rsquo;s market price per share to the extent the market price correlates closely
to the Fund&rsquo;s net asset value per share. The Distribution Policy may also negatively affect the Fund&rsquo;s investment activities
to the extent that the Fund is required to hold larger cash positions than it typically would hold or to the extent that the Fund must
liquidate securities that it would not have sold, for the purpose of paying the distribution. Each Fund&rsquo;s Board has the right to
amend, suspend or terminate the Distribution Policy at any time. The amendment, suspension or termination of the Distribution Policy may
affect the Fund&rsquo;s market price per share. Investors should consult their tax advisor regarding federal, state and local tax considerations
that may be applicable in their particular circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Circular 230 disclosure</U>: To ensure compliance with requirements
imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not
intended or written to be used, and cannot be used, for the purpose of (i)&nbsp;avoiding penalties under the Internal Revenue Code or
(ii)&nbsp;promoting, marketing or recommending to another party any transaction or matter addressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the United States, abrdn is the marketing name for the following
affiliated, registered investment advisers: abrdn Inc., Aberdeen Asset Managers Ltd., abrdn Australia Limited, abrdn Asia Limited, Aberdeen
Capital Management, LLC, abrdn ETFs Advisors LLC and Aberdeen Standard Alternative Funds Limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Closed-end funds are traded on the secondary market through one of
the stock exchanges. A Fund&rsquo;s investment return and principal value will fluctuate so that an investor&rsquo;s shares may be worth
more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount)&nbsp;the net asset
value (NAV) of the fund&rsquo;s portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance
does not guarantee future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border: Black 1.5pt solid">If you wish to receive
this information electronically, please contact Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: blue"><FONT STYLE="color: Black"><U>https://www.abrdn.com/en-us/cefinvestorcenter/fund-centre/closed-end-funds</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(C)(5)
<SEQUENCE>8
<FILENAME>tm2211703d13_ex99-c5.htm
<DESCRIPTION>EXHIBIT 99.(C)(5)
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.(c)(5)</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><IMG SRC="tm2211703d13_ex99-c5img01.jpg" ALT="">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Press
Release</B></FONT></P>

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>For More Information Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">abrdn U.S. Closed-End Funds</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1-800-522-5465</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABRDN U.S. CLOSED-END FUNDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNOUNCE DISTRIBUTION PAYMENT DETAILS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Standard Global Infrastructure Income
Fund (&ldquo;ASGI&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.
(&ldquo;FAX&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Philadelphia, April&nbsp;29, 2022) -The above-noted abrdn U.S. Closed-End
Funds (the &ldquo;Funds&rdquo; or individually the &ldquo;Fund&rdquo;), today announced that the Funds paid the distributions noted in
the table below on April&nbsp;29, 2022, on a per share basis to all shareholders of record as of April&nbsp;22, 2022 (ex-dividend date
April&nbsp;21, 2022).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Ticker</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Exchange</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 15%; font-size: 10pt">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 15%; font-size: 10pt">NYSE</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 53%; font-size: 10pt; text-align: left">Aberdeen Standard Global Infrastructure Income Fund</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">0.1200</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">NYSE American</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund has adopted a distribution policy to provide investors with
a stable distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under applicable U.S. tax rules, the amount and character of distributable
income for each Fund&rsquo;s fiscal year can be finally determined only as of the end of the Fund&rsquo;s fiscal year. However, under
Section&nbsp;19 of the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;) and related rules, the Funds may be required
to indicate to shareholders the estimated source of certain distributions to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following tables set forth the estimated amounts of the sources
of the distributions for purposes of Section&nbsp;19 of the 1940 Act and the rules&nbsp;adopted thereunder. The tables have been computed
based on generally accepted accounting principles. The tables include estimated amounts and percentages for the current distributions
paid this month as well as for the cumulative distributions paid relating to fiscal year to date, from the following sources: net investment
income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated compositions
of the distributions may vary because the estimated composition may be impacted by future income, expenses and realized gains and losses
on securities and currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund&rsquo;s estimated sources of the current distribution paid
this month and for its current fiscal year to date are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Current Distribution per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment <BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Short-Term <BR> Gains**</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Long-<BR> Term Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: center">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1200</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0096</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">8</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0060</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">5</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1044</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">87</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0160</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">58</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0115</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">42</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Fiscal Year* to Date Cumulative Distributions per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized <BR>
Short-Term <BR> Gains **</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Long-Term<BR>
 Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of <BR>
Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt; width: 11%">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.7698</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0616</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">8</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0385</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">5</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.6697</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">87</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1650</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0957</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">58</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0693</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">42</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* ASGI has a 9/30 fiscal year end; FAX has a 10/31 fiscal year end.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">**includes currency gains.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Where the estimated amounts above show a portion of the distribution
to be a &ldquo;Return of Capital,&rdquo; it means that Fund estimates that it has distributed more than its income and capital gains;
therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the
money that you invested in a Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund&rsquo;s
investment performance and should not be confused with &ldquo;yield&rdquo; or &ldquo;income.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The amounts and sources of distributions reported in this notice
are only estimates and are not being provided for tax reporting purposes. The final determination of the source of all distributions for
the current year will only be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend
upon the Fund&rsquo;s investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations.
After the end of each calendar year, a Form&nbsp;1099-DIV will be sent to shareholders for the prior calendar year that will tell you
how to report these distributions for federal income tax purposes.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table provides the Funds&rsquo; total return performance
based on net asset value (NAV) over various time periods compared to the Funds&rsquo; annualized and cumulative distribution rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-right: 0.5in; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Fund Performance and Distribution Rate Information</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Average
                                            <BR> Annual Total <BR> Return on NAV <BR> for the 5 Year <BR> Period Ending <BR> 03/31/2022<SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Current Fiscal <BR> Period&rsquo;s <BR> Annualized <BR> Distribution <BR> Rate on NAV</B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Total Return <BR> on NAV<SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Distribution <BR> Rate on NAV<SUP>2</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font-size: 10pt; text-align: left">ASGI<SUP>2</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">15.52</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%<SUP>3</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">5.63</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">7.07</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">2.81</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">FAX<SUP>2</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.49</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8.53</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(8.30</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.55</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Return data is net of all Fund expenses and fees and
assumes the reinvestment of all distributions reinvested at prices obtained under the Fund&rsquo;s dividend reinvestment plan.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2 </SUP>Based on the Fund&rsquo;s NAV as of March&nbsp;31, 2022.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> The Fund launched within the past 5 years; the performance
and distribution rate information presented reflects data from inception (July&nbsp;29, 2020) through March&nbsp;31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Shareholders should not draw any conclusions about a Fund&rsquo;s
investment performance from the amount of the Fund&rsquo;s current distributions or from the terms of the distribution policy (the &ldquo;Distribution
Policy&rdquo;).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While NAV performance may be indicative of the Fund&rsquo;s investment
performance, it does not measure the value of a shareholder&rsquo;s investment in the Fund. The value of a shareholder&rsquo;s investment
in the Fund is determined by the Fund&rsquo;s market price, which is based on the supply and demand for the Fund&rsquo;s shares in the
open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to an exemptive order granted by the Securities and Exchange
Commission, the Funds may distribute any long-term capital gains more frequently than the limits provided in Section&nbsp;19(b)&nbsp;under
the 1940 Act and Rule&nbsp;19b-1 thereunder. Therefore, distributions paid by the Funds during the year may include net income, short-term
capital gains, long-term capital gains and/or a return of capital. Net income dividends and short-term capital gain dividends, while generally
taxable at ordinary income rates, may be eligible, to the extent of qualified dividend income earned by the Funds, to be taxed at a lower
rate not to exceed the maximum rate applicable to your long-term capital gains. Distributions made in any calendar year in excess of investment
company taxable income and net capital gain are treated as taxable ordinary dividends to the extent of undistributed earnings and profits,
and then as a return of capital that reduces the adjusted basis in the shares held. To the extent return of capital distributions exceed
the adjusted basis in the shares held, capital gain is recognized with a holding period based on the period the shares have been held
at the date such amount is received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The payment of distributions in accordance with the Distribution Policy
may result in a decrease in the Fund&rsquo;s net assets. A decrease in the Fund&rsquo;s net assets may cause an increase in the Fund&rsquo;s
annual operating expense ratio and a decrease in the Fund&rsquo;s market price per share to the extent the market price correlates closely
to the Fund&rsquo;s net asset value per share. The Distribution Policy may also negatively affect the Fund&rsquo;s investment activities
to the extent that the Fund is required to hold larger cash positions than it typically would hold or to the extent that the Fund must
liquidate securities that it would not have sold, for the purpose of paying the distribution. Each Fund&rsquo;s Board has the right to
amend, suspend or terminate the Distribution Policy at any time. The amendment, suspension or termination of the Distribution Policy may
affect the Fund&rsquo;s market price per share. Investors should consult their tax advisor regarding federal, state and local tax considerations
that may be applicable in their particular circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Circular 230 disclosure</U>: To ensure compliance with requirements
imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not
intended or written to be used, and cannot be used, for the purpose of (i)&nbsp;avoiding penalties under the Internal Revenue Code or
(ii)&nbsp;promoting, marketing or recommending to another party any transaction or matter addressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the United States, abrdn is the marketing name for the following
affiliated, registered investment advisers: abrdn Inc., Aberdeen Asset Managers Ltd., abrdn Australia Limited, abrdn Asia Limited, Aberdeen
Capital Management, LLC, abrdn ETFs Advisors LLC and Aberdeen Standard Alternative Funds Limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Closed-end funds are traded on the secondary market through one of
the stock exchanges. A Fund&rsquo;s investment return and principal value will fluctuate so that an investor&rsquo;s shares may be worth
more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount)&nbsp;the net asset
value (NAV) of the fund&rsquo;s portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance
does not guarantee future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border: Black 1.5pt solid">If you wish to receive
this information electronically, please contact Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: blue"><FONT STYLE="color: Black"><U>https://www.abrdn.com/en-us/cefinvestorcenter/fund-centre/closed-end-funds</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(C)(6)
<SEQUENCE>9
<FILENAME>tm2211703d13_ex99-c6.htm
<DESCRIPTION>EXHIBIT 99.(C)(6)
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.(c)(6)</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><IMG SRC="tm2211703d13_ex99-c6img01.jpg" ALT="">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Press
Release</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>For More Information Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">abrdn U.S. Closed-End Funds</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1-800-522-5465</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABRDN U.S. CLOSED-END FUNDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNOUNCE DISTRIBUTION PAYMENT DETAILS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Standard Global Infrastructure Income
Fund (&ldquo;ASGI&rdquo;)&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.
(&ldquo;FAX&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Philadelphia, June&nbsp;7, 2022) -The above-noted abrdn U.S. Closed-End
Funds (the &ldquo;Funds&rdquo; or individually the &ldquo;Fund&rdquo;), today announced that the Funds paid the distributions noted in
the table below on May&nbsp;31, 2022, on a per share basis to all shareholders of record as of May&nbsp;20, 2022 (ex-dividend date May&nbsp;19,
2022).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Ticker</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Exchange</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 15%; font-size: 10pt">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 15%; font-size: 10pt">NYSE</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 53%; font-size: 10pt; text-align: left">Aberdeen Standard Global Infrastructure Income Fund</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">0.1200</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">NYSE American</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund has adopted a distribution policy to provide investors with
a stable distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under applicable U.S. tax rules, the amount and character of distributable
income for each Fund&rsquo;s fiscal year can be finally determined only as of the end of the Fund&rsquo;s fiscal year. However, under
Section&nbsp;19 of the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;) and related rules, the Funds may be required
to indicate to shareholders the estimated source of certain distributions to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following tables set forth the estimated amounts of the sources
of the distributions for purposes of Section&nbsp;19 of the 1940 Act and the rules&nbsp;adopted thereunder. The tables have been computed
based on generally accepted accounting principles. The tables include estimated amounts and percentages for the current distributions
paid this month as well as for the cumulative distributions paid relating to fiscal year to date, from the following sources: net investment
income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated compositions
of the distributions may vary because the estimated composition may be impacted by future income, expenses and realized gains and losses
on securities and currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund&rsquo;s estimated sources of the current distribution paid
this month and for its current fiscal year to date are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Current Distribution per Share</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment <BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Short-Term<BR> Gains**</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Long-<BR> Term Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 10%; font-size: 10pt; text-align: center">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1200</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0144</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">12</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0060</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">5</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0996</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">83</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">FAX</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0160</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">58</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0115</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">42</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Fiscal Year* to Date Cumulative Distributions per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized<BR> Short-Term <BR> Gains **</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Long-Term <BR> Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of <BR> Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: center">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.8898</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1068</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">12</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0445</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">5</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.7385</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">83</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1925</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1117</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">58</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0808</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">42</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* ASGI has a 9/30 fiscal year end; FAX has a 10/31 fiscal year end.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">**includes currency gains.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Where the estimated amounts above show a portion of the distribution
to be a &ldquo;Return of Capital,&rdquo; it means that Fund estimates that it has distributed more than its income and capital gains;
therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the
money that you invested in a Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund&rsquo;s
investment performance and should not be confused with &ldquo;yield&rdquo; or &ldquo;income.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The amounts and sources of distributions reported in this notice
are only estimates and are not being provided for tax reporting purposes. The final determination of the source of all distributions for
the current year will only be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend
upon the Fund&rsquo;s investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations.
After the end of each calendar year, a Form&nbsp;1099-DIV will be sent to shareholders for the prior calendar year that will tell you
how to report these distributions for federal income tax purposes.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table provides the Funds&rsquo; total return performance
based on net asset value (NAV) over various time periods compared to the Funds&rsquo; annualized and cumulative distribution rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-right: 0.5in; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Fund Performance and Distribution Rate Information</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; width: 20%; font-size: 10pt; font-weight: bold; text-align: left">Fund</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 17%; font-size: 10pt; font-weight: bold; text-align: center"><B>Average
                                            <BR> Annual Total <BR> Return on NAV <BR> for the 5 Year <BR> Period Ending<BR> 04/30/2022<SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 17%; font-size: 10pt; font-weight: bold; text-align: center"><B>Current Fiscal <BR> Period&rsquo;s <BR> Annualized <BR> Distribution <BR> Rate on NAV</B></TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 17%; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Total Return <BR> on NAV<SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 17%; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative<BR>
                                            Distribution <BR> Rate on NAV<SUP>2</SUP></B></TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">ASGI</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12.02</TD><TD STYLE="font-size: 10pt; text-align: left">%<SUP>3</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6.23</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.65</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.50</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.54</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9.02</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(12.54</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4.51</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Return data is net of all Fund expenses and fees and assumes
the reinvestment of all distributions reinvested at prices obtained under the Fund&rsquo;s dividend reinvestment plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2 </SUP>Based on the Fund&rsquo;s NAV as of April&nbsp;30, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> The Fund launched within the past 5 years; the performance
and distribution rate information presented reflects data from inception (July&nbsp;29, 2020) through April&nbsp;30, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Shareholders should not draw any conclusions about a Fund&rsquo;s
investment performance from the amount of the Fund&rsquo;s current distributions or from the terms of the distribution policy (the &ldquo;Distribution
Policy&rdquo;).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While NAV performance may be indicative of the Fund&rsquo;s investment
performance, it does not measure the value of a shareholder&rsquo;s investment in the Fund. The value of a shareholder&rsquo;s investment
in the Fund is determined by the Fund&rsquo;s market price, which is based on the supply and demand for the Fund&rsquo;s shares in the
open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to an exemptive order granted by the Securities and Exchange
Commission, the Funds may distribute any long-term capital gains more frequently than the limits provided in Section&nbsp;19(b)&nbsp;under
the 1940 Act and Rule&nbsp;19b-1 thereunder. Therefore, distributions paid by the Funds during the year may include net income, short-term
capital gains, long-term capital gains and/or a return of capital. Net income dividends and short-term capital gain dividends, while generally
taxable at ordinary income rates, may be eligible, to the extent of qualified dividend income earned by the Funds, to be taxed at a lower
rate not to exceed the maximum rate applicable to your long-term capital gains. Distributions made in any calendar year in excess of investment
company taxable income and net capital gain are treated as taxable ordinary dividends to the extent of undistributed earnings and profits,
and then as a return of capital that reduces the adjusted basis in the shares held. To the extent return of capital distributions exceed
the adjusted basis in the shares held, capital gain is recognized with a holding period based on the period the shares have been held
at the date such amount is received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The payment of distributions in accordance with the Distribution Policy
may result in a decrease in the Fund&rsquo;s net assets. A decrease in the Fund&rsquo;s net assets may cause an increase in the Fund&rsquo;s
annual operating expense ratio and a decrease in the Fund&rsquo;s market price per share to the extent the market price correlates closely
to the Fund&rsquo;s net asset value per share. The Distribution Policy may also negatively affect the Fund&rsquo;s investment activities
to the extent that the Fund is required to hold larger cash positions than it typically would hold or to the extent that the Fund must
liquidate securities that it would not have sold, for the purpose of paying the distribution. Each Fund&rsquo;s Board has the right to
amend, suspend or terminate the Distribution Policy at any time. The amendment, suspension or termination of the Distribution Policy may
affect the Fund&rsquo;s market price per share. Investors should consult their tax advisor regarding federal, state and local tax considerations
that may be applicable in their particular circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Circular 230 disclosure</U>: To ensure compliance with requirements
imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not
intended or written to be used, and cannot be used, for the purpose of (i)&nbsp;avoiding penalties under the Internal Revenue Code or
(ii)&nbsp;promoting, marketing or recommending to another party any transaction or matter addressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the United States, abrdn is the marketing name for the following
affiliated, registered investment advisers: abrdn Inc., Aberdeen Asset Managers Ltd., abrdn Australia Limited, abrdn Asia Limited, Aberdeen
Capital Management, LLC, abrdn ETFs Advisors LLC and Aberdeen Standard Alternative Funds Limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Closed-end funds are traded on the secondary market through one of
the stock exchanges. A Fund&rsquo;s investment return and principal value will fluctuate so that an investor&rsquo;s shares may be worth
more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount)&nbsp;the net asset
value (NAV) of the fund&rsquo;s portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance
does not guarantee future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border: Black 1.5pt solid">If you wish to receive
this information electronically, please contact Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: blue"><FONT STYLE="color: Black"><U>https://www.abrdn.com/en-us/cefinvestorcenter/fund-centre/closed-end-funds</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

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<TYPE>EX-99.(C)(7)
<SEQUENCE>10
<FILENAME>tm2211703d13_ex99-c7.htm
<DESCRIPTION>EXHIBIT 99.(C)(7)
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.(c)(7)</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0">&nbsp;<IMG SRC="tm2211703d13_ex99-c7img01.jpg" ALT=""></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><B>Press Release</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>For More Information Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">abrdn U.S. Closed-End Funds</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1-800-522-5465</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABRDN U.S. CLOSED-END FUNDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNOUNCE DISTRIBUTION PAYMENT DETAILS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>abrdn Global Infrastructure Income Fund (&ldquo;ASGI&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>abrdn Asia-Pacific Income Fund,&nbsp;Inc. (&ldquo;FAX&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Philadelphia, June&nbsp;30, 2022) -The above-noted abrdn U.S. Closed-End
Funds (the &ldquo;Funds&rdquo; or individually the &ldquo;Fund&rdquo;), today announced that the Funds paid the distributions noted in
the table below on June&nbsp;30, 2022, on a per share basis to all shareholders of record as of June&nbsp;22, 2022 (ex-dividend date June&nbsp;21,
2022). These dates apply to the Funds listed below with the exception of the abrdn Australia Equity Fund,&nbsp;Inc. (IAF), the India Fund,&nbsp;Inc.
(IFN) and the abrdn Japan Equity Fund,&nbsp;Inc. (JEQ) which paid the distribution on June&nbsp;30, 2022 to all shareholders of record
as of May&nbsp;20, 2022 (ex-dividend date May&nbsp;19, 2022).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Ticker</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Exchange</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 15%; font-size: 10pt">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 15%; font-size: 10pt">NYSE</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 53%; font-size: 10pt; text-align: left">abrdn Global Infrastructure Income Fund</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">0.1200</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">NYSE American</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">abrdn Asia-Pacific Income Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">IAF</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">NYSE American</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">abrdn Australia Equity Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1500</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">IFN</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">NYSE</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">The India Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.5300</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">JEQ</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">NYSE</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">abrdn Japan Equity Fund,&nbsp;Inc.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1200</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund has adopted a distribution policy to provide investors with
a stable distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the abrdn Australia Equity Fund,&nbsp;Inc. (IAF), the India Fund,&nbsp;Inc.
(IFN) and the abrdn Japan Equity Fund,&nbsp;Inc. (JEQ) the stock distributions were automatically paid in newly issued shares of the Fund
unless otherwise instructed by the shareholder to be paid in cash. Shares of common stock were issued at the lower of the net asset value
(&ldquo;NAV&rdquo;) per share or the market price per share with a floor for the NAV of not less than 95% of the market price on June&nbsp;21,
2022. The reinvestment prices per share for these distributions were as follows: $ 4.6695 for the abrdn Australia Equity Fund,&nbsp;Inc.
(IAF); $ 16.18 for the India Fund,&nbsp;Inc. (IFN) and $ 5.63 for the abrdn Japan Equity Fund,&nbsp;Inc. (JEQ). Fractional shares were
generally settled in cash, except for registered shareholders with book entry accounts at Computershare Investor Services who had whole
and fractional shares added to their account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To have received the abrdn Australia Equity Fund,&nbsp;Inc. (IAF),
the India Fund,&nbsp;Inc. (IFN) and the abrdn Japan Equity Fund,&nbsp;Inc. (JEQ) quarterly distributions payable in June&nbsp;2022 in
cash instead of shares of common stock, for shareholders who hold shares in &ldquo;street name,&rdquo; the bank, brokerage or nominee
who holds the shares must have advised the Depository Trust Company as to the full and fractional shares for which they want the distribution
paid in cash by June&nbsp;17, 2022; and for shares that are held in registered form, written notification for the election of cash by
registered shareholders must have been received by Computershare Investor Services prior to June&nbsp;17, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under applicable U.S. tax rules, the amount and character of distributable
income for each Fund&rsquo;s fiscal year can be finally determined only as of the end of the Fund&rsquo;s fiscal year. However, under
Section&nbsp;19 of the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;) and related rules, the Funds may be required
to indicate to shareholders the estimated source of certain distributions to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following tables set forth the estimated amounts of the sources
of the distributions for purposes of Section&nbsp;19 of the 1940 Act and the rules&nbsp;adopted thereunder. The tables have been computed
based on generally accepted accounting principles. The tables include estimated amounts and percentages for the current distributions
paid this month as well as for the cumulative distributions paid relating to fiscal year to date, from the following sources: net investment
income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated compositions
of the distributions may vary because the estimated composition may be impacted by future income, expenses and realized gains and losses
on securities and currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Fund&rsquo;s estimated sources of the current distribution paid
this month and for its current fiscal year to date are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Current Distribution per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund*</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment <BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Short-<BR> Term Gains**</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Long-<BR> Term Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: center">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1200</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0144</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">12</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0060</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">5</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0996</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">83</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0155</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">56</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0120</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">44</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center">IAF</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1500</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0495</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">33</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0855</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">57</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0150</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">10</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">IFN</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.5300</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.5300</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center">JEQ</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1200</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0144</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0996</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">83</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0060</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Estimated Amounts of Fiscal Year* to Date Cumulative Distributions per Share</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="36" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Distribution <BR> Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Investment Income</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized<BR> Short-Term <BR> Gains **</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Net Realized Long-Term <BR> Gains</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Return of Capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: center">ASGI</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">1.0098</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.1212</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">12</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.0505</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">5</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">0.8381</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">83</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">FAX</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.2200</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1233</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">56</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0967</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">44</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center">IAF</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.4600</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1518</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">33</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.2622</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">57</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0460</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">10</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">IFN</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">1.1100</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">1.1100</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: center">JEQ</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">1.2505</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.1501</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">1.0379</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">83</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.0625</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* ASGI has a 9/30 fiscal year end; FAX,&nbsp;IAF and JEQ have a 10/31
fiscal year end; IFN has a 12/31 fiscal year end.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">**includes currency gains.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Where the estimated amounts above show a portion of the distribution
to be a &ldquo;Return of Capital,&rdquo; it means that Fund estimates that it has distributed more than its income and capital gains;
therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the
money that you invested in a Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund&rsquo;s
investment performance and should not be confused with &ldquo;yield&rdquo; or &ldquo;income.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of June&nbsp;23, 2022, after giving effect to this payment, JEQ
estimates it has a net deficit of $1,392,900.00. A net deficit results when the Fund has net unrealized losses that are in excess of any
net realized gains that have not yet been distributed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The amounts and sources of distributions reported in this notice
are only estimates and are not being provided for tax reporting purposes. The final determination of the source of all distributions for
the current year will only be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend
upon the Fund&rsquo;s investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations.
After the end of each calendar year, a Form&nbsp;1099-DIV will be sent to shareholders for the prior calendar year that will tell you
how to report these distributions for federal income tax purposes.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table provides the Funds&rsquo; total return performance
based on net asset value (NAV) over various time periods compared to the Funds&rsquo; annualized and cumulative distribution rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-right: 0.5in; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Fund Performance and Distribution Rate Information</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Average<BR> Annual
    Total <BR> Return on NAV <BR> for the 5 Year <BR> Period Ending <BR> 02/28/2022<SUP>1</SUP></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Current Fiscal <BR> Period&rsquo;s <BR> Annualized <BR> Distribution <BR> Rate on NAV</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Cumulative <BR> Total
    Return <BR> on NAV<SUP>1</SUP></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Cumulative <BR> Distribution
    <BR> Rate on NAV<SUP>2</SUP></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font-size: 10pt; text-align: left">ASGI<SUP>2</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">13.24</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%<SUP>3</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">6.08</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">5.73</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">3.95</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">FAX<SUP>2</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.20</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9.19</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(13.44</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5.36</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Return data is net of all Fund expenses and fees and assumes
the reinvestment of all distributions reinvested at prices obtained under the Fund&rsquo;s dividend reinvestment plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2 </SUP>Based on the Fund&rsquo;s NAV as of May&nbsp;31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> The Fund launched within the past 5 years; the performance
and distribution rate information presented reflects data from inception (July&nbsp;29, 2020) through May&nbsp;31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-right: 0.5in; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="17" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Fund Performance and Distribution Rate Information&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">Fund</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Average
                                            <BR> Annual Total <BR> Return on <BR> NAV for the 5 <BR> Year Period <BR> Ending <BR> 04/30/2022
                                            <SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Current Fiscal<BR> Period&rsquo;s<BR> Annualized <BR> Distribution <BR> Rate on NAV </B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Total Return <BR> on NAV <SUP>1</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Cumulative
                                            <BR> Distribution <BR> Rate on NAV <SUP>2</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font-size: 10pt">IAF <SUP>2</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">8.32</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">10.78</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">(7.22</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)%</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font-size: 10pt; text-align: right">5.48</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">IFN <SUP>2</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7.06</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11.42</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(10.88</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.85</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">JEQ <SUP>2</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.85</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6.38</TD><TD STYLE="font-size: 10pt; text-align: left">%<SUP>3</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(24.63</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">16.04</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Return data is net of all Fund expenses and fees and assumes
the reinvestment of all distributions reinvested at prices obtained under the Fund&rsquo;s dividend reinvestment plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2 </SUP>Based on the Fund&rsquo;s NAV as of April&nbsp;30, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> The percentage shown does not include the Fund&rsquo;s
annual distribution policy in place in 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Shareholders should not draw any conclusions about a Fund&rsquo;s
investment performance from the amount of the Fund&rsquo;s current distributions or from the terms of the distribution policy (the &ldquo;Distribution
Policy&rdquo;).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While NAV performance may be indicative of the Fund&rsquo;s investment
performance, it does not measure the value of a shareholder&rsquo;s investment in the Fund. The value of a shareholder&rsquo;s investment
in the Fund is determined by the Fund&rsquo;s market price, which is based on the supply and demand for the Fund&rsquo;s shares in the
open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to an exemptive order granted by the Securities and Exchange
Commission, the Funds may distribute any long-term capital gains more frequently than the limits provided in Section&nbsp;19(b)&nbsp;under
the 1940 Act and Rule&nbsp;19b-1 thereunder. Therefore, distributions paid by the Funds during the year may include net income, short-term
capital gains, long-term capital gains and/or a return of capital. Net income dividends and short-term capital gain dividends, while generally
taxable at ordinary income rates, may be eligible, to the extent of qualified dividend income earned by the Funds, to be taxed at a lower
rate not to exceed the maximum rate applicable to your long-term capital gains. Distributions made in any calendar year in excess of investment
company taxable income and net capital gain are treated as taxable ordinary dividends to the extent of undistributed earnings and profits,
and then as a return of capital that reduces the adjusted basis in the shares held. To the extent return of capital distributions exceed
the adjusted basis in the shares held, capital gain is recognized with a holding period based on the period the shares have been held
at the date such amount is received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The payment of distributions in accordance with the Distribution Policy
may result in a decrease in the Fund&rsquo;s net assets. A decrease in the Fund&rsquo;s net assets may cause an increase in the Fund&rsquo;s
annual operating expense ratio and a decrease in the Fund&rsquo;s market price per share to the extent the market price correlates closely
to the Fund&rsquo;s net asset value per share. The Distribution Policy may also negatively affect the Fund&rsquo;s investment activities
to the extent that the Fund is required to hold larger cash positions than it typically would hold or to the extent that the Fund must
liquidate securities that it would not have sold, for the purpose of paying the distribution. Each Fund&rsquo;s Board has the right to
amend, suspend or terminate the Distribution Policy at any time. The amendment, suspension or termination of the Distribution Policy may
affect the Fund&rsquo;s market price per share. Investors should consult their tax advisor regarding federal, state and local tax considerations
that may be applicable in their particular circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Circular 230 disclosure</U>: To ensure compliance with requirements
imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not
intended or written to be used, and cannot be used, for the purpose of (i)&nbsp;avoiding penalties under the Internal Revenue Code or
(ii)&nbsp;promoting, marketing or recommending to another party any transaction or matter addressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the United States, abrdn is the marketing name for the following
affiliated, registered investment advisers: abrdn Inc., Aberdeen Asset Managers Ltd., abrdn Australia Limited, abrdn Asia Limited, Aberdeen
Capital Management, LLC, abrdn ETFs Advisors LLC and Aberdeen Standard Alternative Funds Limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Closed-end funds are traded on the secondary market through one of
the stock exchanges. A Fund&rsquo;s investment return and principal value will fluctuate so that an investor&rsquo;s shares may be worth
more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount)&nbsp;the net asset
value (NAV) of the fund&rsquo;s portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance
does not guarantee future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border: Black 1.5pt solid">If you wish to receive
this information electronically, please contact Investor.Relations@abrdn.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: blue"><FONT STYLE="color: Black"><U>https://www.abrdn.com/en-us/cefinvestorcenter/fund-centre/closed-end-funds</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
