<SEC-DOCUMENT>0000950123-11-088894.txt : 20120409
<SEC-HEADER>0000950123-11-088894.hdr.sgml : 20120409
<ACCEPTANCE-DATETIME>20111006140948
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ACCESSION NUMBER:		0000950123-11-088894
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20111006

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASIA TIGERS FUND INC
		CENTRAL INDEX KEY:			0000912729
		IRS NUMBER:				133735233
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		C/O ABERDEEN ASSET MANAGEMENT INC.
		STREET 2:		1735 MARKET STREET, 32ND FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		2154055757

	MAIL ADDRESS:	
		STREET 1:		C/O ABERDEEN ASSET MANAGEMENT INC.
		STREET 2:		1735 MARKET STREET, 32ND FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INDIA FUND INC
		CENTRAL INDEX KEY:			0000917100
		IRS NUMBER:				133749070
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		C/O ABERDEEN ASSET MANAGEMENT INC.
		STREET 2:		1735 MARKET STREET, 32ND FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		2154055757

	MAIL ADDRESS:	
		STREET 1:		C/O ABERDEEN ASSET MANAGEMENT INC.
		STREET 2:		1735 MARKET STREET, 32ND FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INDIA FUND INC /NY NEW
		DATE OF NAME CHANGE:	19940106
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">October&nbsp;6, 2011
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><u>VIA EDGAR TRANSMISSION</u>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Larry L. Greene<BR>
Senior Counsel<BR>
Division of Investment Management<BR>
Securities and Exchange Commission<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549-7010

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re:</TD>
    <TD>&nbsp;</TD>
    <TD>The India Fund, Inc. and The Asia Tigers Fund, Inc.<br>
Joint Proxy Statement<br>
File Nos. 811-08266 and 811-08050</TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Mr.&nbsp;Greene:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On behalf of The India Fund, Inc. and The Asia Tigers Fund, Inc. (each, a &#147;Fund,&#148; and collectively,
the &#147;Funds&#148;), we are writing to respond to the comments of the staff (the &#147;Staff&#148;) of the
Securities and Exchange Commission (the &#147;Commission&#148;) we received in a telephone conversation with
you on October&nbsp;3, 2011, relating to the preliminary joint proxy statement (&#147;Preliminary Proxy&#148;) of
the Funds filed on September&nbsp;23, 2011. As we discussed, concurrently with this letter, the Funds
are filing a definitive joint proxy statement (the &#147;Joint Proxy Statement&#148;) that addresses the
comments you raised. The Joint Proxy Statement also includes some additional changes. We have
enclosed a copy of the Joint Proxy Statement marked to show changes from the Preliminary Proxy.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Set forth below are our responses to the Staff&#146;s comments. To assist your review, we have set
forth the comments in italics below. Page references in the text of this letter correspond to the
pages of the Joint Proxy Statement.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>1. Comment: Are the exclusions from the cap on total ordinary operating expenses the same for each
of the Funds?</I>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Response: We confirm that the exclusions are identical for each Fund.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>2. Comment: Please provide a table or narrative disclosure showing the current and pro forma fees
reflecting what the advisory fees would be if the Funds use investment leverage and the fees are
calculated on &#147;managed assets&#148;.</I>
</DIV>




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</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Response: Please be advised that the amount of advisory fees under the proposed new advisory
agreements with Aberdeen Asia would increase in the future only if the Boards of Directors of the
Funds authorize the Funds to use, and the Funds do use, borrowing arrangements or other forms of
investment leverage to purchase portfolio securities. The Funds have not in the past used
investment leverage and we have been advised by Aberdeen Asia that it does not currently intend to
recommend to the Boards of Directors of the Funds the use of investment leverage in the foreseeable
future. A statement to that effect is included in the Joint Proxy Statement. In addition, we have
included the following paragraphs under the description of Advisory Fees for The India Fund, Inc.
and The Asia Tigers Fund, Inc., respectively, on pages 11 and 12 of the Joint Proxy Statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&#147;Assuming use of the maximum investment leverage allowable under the Fund&#146;s
fundamental investment restrictions of 25% of the Fund&#146;s total assets (including the
amount of the borrowings), the Fund would have paid an aggregate amount of
$19,347,237 in investment advisory fees, or $19,066,910 after taking into
consideration the expense cap, during the 12&nbsp;months ended December&nbsp;31, 2010 had the
New Advisory Agreement been in effect. The additional fees would have been borne by
the Fund&#146;s common stockholders, resulting in an effective advisory fee rate of
1.18%, or 1.17% after taking into consideration the expense cap.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&#147;Assuming use of the maximum investment leverage allowable under the Fund&#146;s
fundamental investment restrictions of 25% of the Fund&#146;s total assets (including the
amount of the borrowings), the Fund would have paid an aggregate amount of
$1,004,450 in investment advisory fees, or $1,004,450 after taking into
consideration the expense cap, during the 12&nbsp;months ended December&nbsp;31, 2010 had the
New Advisory Agreement been in effect. The additional fees would have been borne by
the Fund&#146;s common stockholders, resulting in an effective advisory fee rate of
1.33%, or 1.33% after taking into consideration the expense cap.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please also note that due to the expense caps (as described in the Joint Proxy Statement) the
Funds would have paid lower fees during the 12&nbsp;months ended December&nbsp;31, 2010 had the new advisory
agreements been in effect. We have included this disclosure in the Joint Proxy Statement.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>3. Comment: On page 3 of the Questions and Answers section you state that &#147;Clients access the
Aberdeen Global investment expertise drawn from three main asset classes: equities, fixed income
and property.&#148; Please explain the reference to &#147;property.&#148;</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Response: In response to the Staff&#146;s comment, the Funds have revised the disclosure on page 3
of the Questions and Answers section of the Joint Proxy Statement to replace the word &#147;property&#146;
with &#147;real estate&#148;<I>.</I>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>4. Comment: Please advise if the fee cap arrangements with Aberdeen Asia contemplate the recoupment
of expenses by the new investment adviser in later years.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Response: Please be advised that there are no recoupment provisions contemplated in the
expense reimbursement agreements.
</DIV>

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</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>5. Comment: In reference to factor (xi)&nbsp;of the Boards&#146; considerations on page 16, please advise if
Aberdeen Asia or the Funds currently contemplate rights offerings to increase the Funds&#146; assets.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Response: We have been advised by the Funds and Aberdeen Asia that there are no present plans
to conduct a rights offering for either Fund. However, if market conditions change, Aberdeen Asia
may determine that a rights offering for one or both Funds is desirable and may seek approval of
the Funds&#146; Board of Directors to conduct the rights offerings.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>6. Comment: On page 25, under the heading &#147;Quorum; Adjournment,&#148; please explain how non-votes and
abstentions will be voted on the proposal to adjourn the special meeting.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Response: In response to your comment, the Funds have revised the disclosure on page 25 of the
Joint Proxy Statement.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>7. Comment: Please include the standard Tandy statements in the response letter.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Response: In connection with the Joint Proxy Statement, the Funds hereby acknowledge that:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Funds are responsible for the adequacy and accuracy of the disclosure in
the filing;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Staff comments or changes to disclosure in response to Staff comments in the
filing reviewed by the Staff do not foreclose the Commission from taking any action
with respect to the filing; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Funds may not assert Staff comments as a defense in any proceeding
initiated by the Commission or any person under the federal securities laws of the
United States.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are grateful for your assistance in this matter. Please do not hesitate to call Sarah E.
Cogan, Esq. at (212)&nbsp;455-3575 or Tornike Bolkvadze, Esq. at (212)&nbsp;455-7663 with any questions you
may have regarding this letter.
</DIV>
<DIV align="center">
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Very truly yours,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Simpson Thacher &#038; Bartlett LLP
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">SIMPSON THACHER &#038; BARTLETT LLP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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</DIV>



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