No Longer a Fan of Aberdeen Asia-Pacific Income Fund

| About: Aberdeen Asia-Pacific (FAX)

I'm deleting Aberdeen Asia-Pacific Income Fund (NYSEMKT:FAX) from the Barchart Van Meerten New High Portfolio for negative price momentum.

FAX is a closed-end, non-diversified investment company seeking current income through investment primarily in Australian debt securities. The fund may also achieve incidental capital appreciation. It won't this year. With a yield of 6.09% and a price loss of 3.21% this is not a winning position.

I'm afraid of all sovereign and municipal debt in the short term. The great argument at present is whether to raise revenue and cut spending or cut taxes and raise spending.

Technical reasons:

Disclosure: I am Long FAX. Additional disclosure: I was long but have placed a sell order.

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Tagged: , , , Closed-End Fund - Debt
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