• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    abrdn Emerging Markets Equity Income Fund, Inc. (AEF) Announces Results Of Strategic Review Including: Changes To The Fund's Name And Investment Strategy, A 20% Tender Offer And Renewed Performance-based Conditional Tender Offer Policy, And An Increase To Managed Distribution Policy

    12/10/24 6:10:00 PM ET
    $AEF
    Finance/Investors Services
    Finance
    Get the next $AEF alert in real time by email

    PHILADELPHIA, PA / ACCESSWIRE / December 10, 2024 / abrdn Emerging Markets Equity Income Fund, Inc. (NYSE:AEF) announces results of a strategic review conducted by the Fund's Board of Directors (the "Board") at a meeting held today.

    The Board has approved multiple changes to the Fund including: (1) changes to the Fund's name and 80% non-fundamental investment policy; (2) a 20% tender offer to be offered in the first quarter of 2025; (3) a new 3-year performance-based conditional tender offer policy commencing on March 1, 2025; and (4) an increase to its annualized distribution rate from 6.5% to 10% effective with the distribution that will be declared in March 2025.

    Fund Name Change and Changes to Non-Fundamental Investment Policy

    The Fund's Board has approved changes to the Fund's name, its non-fundamental 80% investment policy, and its benchmark, as set forth below. There will be no change to the Fund's investment objective and the Fund will continue to trade on the NYSE American under ticker symbol "AEF".

    The name change and change to the 80% investment policy will be effective on or about February 24, 2025 (the "Effective Date") following 60 days' notice to Fund shareholders and may only be changed thereafter by the Board of the Fund following the provision of at least 60 days' written notice to the Fund's shareholders.

    Current

    New

    Fund Name

    abrdn Emerging Markets Equity Income Fund, Inc.

    abrdn Emerging Markets ex-China Fund, Inc.

    80% Investment Policy

    The Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in emerging markets equity securities.

    Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in emerging markets (excluding China) equity securities.

    Benchmark

    MSCI Emerging Markets Index (Net Daily Total Return)

    MSCI Emerging Markets ex-China Index (Net Daily Total Return)

    In approving the strategy and name change, the Board considered, among other factors, that as the only U.S. closed-end fund currently offering the emerging market ex-China strategy, the Fund will be less driven by the policy actions of the Chinese government, and more driven by stock fundamentals, which aligns with Management's style of bottom-up investing.

    The Fund will remain a non-diversified, closed-end management investment company whose objective is to provide both current income and long-term appreciation.

    Tender Offer

    The Fund is also announcing approval by the Board to pay a cash tender offer which will purchase up to 20% of the Fund's issued and outstanding shares at a price per share to be equal to 98% of the Fund's NAV per share as determined by the Fund on the next business day following the expiration date of the tender offer (the "2025 Tender Offer").

    This 2025 Tender Offer will replace the Fund's current conditional tender offer policy announced in May 2023. Further details and timing will be announced ahead of the Effective Date of the Fund's investment strategy changes.

    Update to the Fund's Conditional Tender Offer Policy

    As part of the Board's commitment to shareholders relating to the investment strategy changes, the Board has adopted a policy (the "Policy") pursuant to which it will cause the Fund to conduct a one-time tender offer for twenty percent (20%) of its then issued and outstanding shares of common stock on or before June 30, 2028, if the Fund's total return investment performance measured on a NAV basis does not equal or exceed the total return investment performance of the MSCI Emerging Markets ex-China Index (Net Daily Total Return) during the period commencing on March 1, 2025 and ending on February 28, 2028. The price at which shares are to be tendered and other terms and conditions of such tender offer would be determined by the Board in its discretion based on its review and consideration of the then-current size of the Fund, market conditions and other factors it deems relevant.

    Annualized Distribution Rate Increase and Declaration of Next Distribution

    The Fund is also announcing that, as part of the strategic changes, the Board approved an increase to its annualized distribution rate from 6.5% to 10%, commencing with the quarterly distribution payable in March 2025. The actual amount of the distribution will continue to be based on the average daily net asset value ("NAV") for the previous three months as of the month-end prior to declaration.

    The Fund intends to maintain the increased distribution rate for at least the 12 months following the effective increase, unless there is a significant and unforeseen change in market conditions. This policy will be subject to regular review by the Board. The policy is expected to provide a steady and sustainable quarterly cash distribution to Fund shareholders that may help reduce any discount to NAV at which the Fund's shares trade. There is no assurance that the Fund will achieve these results.

    Important Information

    At the end of each calendar year, a Form 1099-DIV will be sent to shareholders, which will state the amount and composition of the Fund's distributions and provide information with respect to their appropriate tax treatment for the prior calendar year. You should not draw any conclusions about the Fund's investment performance from the amount of the distributions.

    Circular 230 disclosure: 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) avoiding penalties under the Internal Revenue Code of 1986, as amended, or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

    In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.

    Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor'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) the NAV of the Fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.

    www.abrdnaef.com

    ###

    For More Information Contact:

    abrdn U.S. Closed-End Funds
    Investor Relations
    1-800-522-5465
    [email protected]

    SOURCE: abrdn Emerging Markets Equity Income Fund, Inc.



    View the original press release on accesswire.com

    Get the next $AEF alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $AEF

    DatePrice TargetRatingAnalyst
    More analyst ratings

    $AEF
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Yao Nancy bought $5,400 worth of shares (1,000 units at $5.40), increasing direct ownership by 100% to 2,000 units (SEC Form 4)

      4 - abrdn Emerging Markets ex-China Fund, Inc. (0000846676) (Issuer)

      6/11/25 4:16:54 PM ET
      $AEF
      Finance/Investors Services
      Finance
    • Director Rappaport Steven N returned $192,765 worth of shares to the company (31,757 units at $6.07), decreasing direct ownership by 28% to 83,197 units (SEC Form 4)

      4 - abrdn Emerging Markets ex-China Fund, Inc. (0000846676) (Issuer)

      3/6/25 11:48:47 AM ET
      $AEF
      Finance/Investors Services
      Finance
    • SEC Form 3 filed by new insider Silue Kolotioloma

      3 - ABRDN EMERGING MARKETS EQUITY INCOME FUND, INC. (0000846676) (Issuer)

      12/20/24 1:25:30 PM ET
      $AEF
      Finance/Investors Services
      Finance

    $AEF
    SEC Filings

    See more
    • SEC Form DEF 14A filed by abrdn Emerging Markets ex-China Fund Inc.

      DEF 14A - abrdn Emerging Markets ex-China Fund, Inc. (0000846676) (Filer)

      4/14/25 4:14:56 PM ET
      $AEF
      Finance/Investors Services
      Finance
    • SEC Form N-CEN filed by abrdn Emerging Markets ex-China Fund Inc.

      N-CEN - abrdn Emerging Markets ex-China Fund, Inc. (0000846676) (Filer)

      3/17/25 1:06:00 PM ET
      $AEF
      Finance/Investors Services
      Finance
    • SEC Form N-CSR filed by abrdn Emerging Markets ex-China Fund Inc.

      N-CSR - abrdn Emerging Markets ex-China Fund, Inc. (0000846676) (Filer)

      3/10/25 3:51:36 PM ET
      $AEF
      Finance/Investors Services
      Finance

    $AEF
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Yao Nancy bought $5,400 worth of shares (1,000 units at $5.40), increasing direct ownership by 100% to 2,000 units (SEC Form 4)

      4 - abrdn Emerging Markets ex-China Fund, Inc. (0000846676) (Issuer)

      6/11/25 4:16:54 PM ET
      $AEF
      Finance/Investors Services
      Finance
    • Director Maher Bill bought $4,999 worth of shares (931 units at $5.37) (SEC Form 4)

      4 - ABRDN EMERGING MARKETS EQUITY INCOME FUND, INC. (0000846676) (Issuer)

      8/27/24 2:47:53 PM ET
      $AEF
      Finance/Investors Services
      Finance
    • Director Maher Bill bought $5,250 worth of shares (1,000 units at $5.25), increasing direct ownership by 8% to 14,032 units (SEC Form 4)

      4 - ABRDN EMERGING MARKETS EQUITY INCOME FUND, INC. (0000846676) (Issuer)

      8/16/24 3:27:24 PM ET
      $AEF
      Finance/Investors Services
      Finance

    $AEF
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • ABERDEEN INVESTMENTS U.S. CLOSED-END FUNDS ANNOUNCE DISTRIBUTION PAYMENT DETAILS

      PHILADELPHIA, June 10, 2025 /PRNewswire/ -- The following Aberdeen Investments U.S. Closed-End Funds (NYSE: ACP, AGD, AOD, ASGI, AWP, THQ, NYSE:AEF, FAX, FCO, VFL), announced today that the closed end funds in the chart directly below will pay the distributions indicated on a per share basis on June 30, 2025 to all shareholders of record as of June 23, 2025 (ex-dividend date June 23, 2025). Ticker Exchange Fund Amount ACP NYSE abrdn Income Credit Strategies Fund $   0.0775 AEF NYSE American Abrdn Emerging Markets ex-China Fund, Inc. $   0.1500 AGD NYSE abrdn Global Dynamic D

      6/10/25 4:17:00 PM ET
      $ACP
      $AEF
      $AGD
      $AOD
      Investment Managers
      Finance
      Finance/Investors Services
      Trusts Except Educational Religious and Charitable
    • ABERDEEN INVESTMENTS U.S. CLOSED-END FUNDS ANNOUNCE RESULTS OF ANNUAL MEETING OF SHAREHOLDERS

      PHILADELPHIA, May 28, 2025 /PRNewswire/ -- The following Aberdeen Investments U.S. Closed-End Funds announced they each held their Annual Meeting of Shareholders (the "Meetings") on May 28, 2025.  At the Meetings, shareholders of the respective Funds voted on the proposals set forth below: abrdn Asia-Pacific Income Fund, Inc.  ("FAX")As of the record date, April 7, 2025, FAX had outstanding 41,282,628 shares of common stock and 4,000,000 shares of preferred stock. 60.36% of outstanding common stock and 100% of preferred stock were voted representing a quorum. To elect one Clas

      5/28/25 6:13:00 PM ET
      $ACP
      $AEF
      $AGD
      $AOD
      Investment Managers
      Finance
      Finance/Investors Services
      Trusts Except Educational Religious and Charitable
    • abrdn Emerging Markets Equity Income Fund, Inc. (AEF) Announces Commencement of a Cash Tender Offer

      PHILADELPHIA, PA / ACCESS Newswire / January 21, 2025 / abrdn Emerging Markets Equity Income Fund, Inc. (NYSE:AEF), a non-diversified closed-end fund, announced today the commencement of the previously announced cash tender offer to purchase up to 10,150,355 shares, representing approximately 20% of the Fund's outstanding shares, at a price per share equal to 98% of the Fund's net asset value ("NAV") per share as determined by the Fund on the next business day immediately following the day the tender expires. The offer commences at 12:01 am, January 21, 2025, and will expire at 5:00 p.m. New York City time on February 20, 2025, unless otherwise extended. It is expected that the payment of th

      1/21/25 5:00:00 PM ET
      $AEF
      Finance/Investors Services
      Finance

    $AEF
    Financials

    Live finance-specific insights

    See more
    • ABERDEEN INVESTMENTS U.S. CLOSED-END FUNDS ANNOUNCE DISTRIBUTION PAYMENT DETAILS

      PHILADELPHIA, June 10, 2025 /PRNewswire/ -- The following Aberdeen Investments U.S. Closed-End Funds (NYSE: ACP, AGD, AOD, ASGI, AWP, THQ, NYSE:AEF, FAX, FCO, VFL), announced today that the closed end funds in the chart directly below will pay the distributions indicated on a per share basis on June 30, 2025 to all shareholders of record as of June 23, 2025 (ex-dividend date June 23, 2025). Ticker Exchange Fund Amount ACP NYSE abrdn Income Credit Strategies Fund $   0.0775 AEF NYSE American Abrdn Emerging Markets ex-China Fund, Inc. $   0.1500 AGD NYSE abrdn Global Dynamic D

      6/10/25 4:17:00 PM ET
      $ACP
      $AEF
      $AGD
      $AOD
      Investment Managers
      Finance
      Finance/Investors Services
      Trusts Except Educational Religious and Charitable
    • ABERDEEN INVESTMENTS U.S. CLOSED-END FUNDS ANNOUNCE RESULTS OF ANNUAL MEETING OF SHAREHOLDERS

      PHILADELPHIA, May 28, 2025 /PRNewswire/ -- The following Aberdeen Investments U.S. Closed-End Funds announced they each held their Annual Meeting of Shareholders (the "Meetings") on May 28, 2025.  At the Meetings, shareholders of the respective Funds voted on the proposals set forth below: abrdn Asia-Pacific Income Fund, Inc.  ("FAX")As of the record date, April 7, 2025, FAX had outstanding 41,282,628 shares of common stock and 4,000,000 shares of preferred stock. 60.36% of outstanding common stock and 100% of preferred stock were voted representing a quorum. To elect one Clas

      5/28/25 6:13:00 PM ET
      $ACP
      $AEF
      $AGD
      $AOD
      Investment Managers
      Finance
      Finance/Investors Services
      Trusts Except Educational Religious and Charitable
    • abrdn U.S. Closed-End Funds Announce Distribution Payment Details

      PHILADELPHIA, PA / ACCESSWIRE / December 10, 2024 / The following abrdn U.S. Closed-End Funds (NYSE:AGD, AOD, ASGI, AWP, THQ, NYSE:AEF, FAX, FCO, VFL)), announced today that the closed end funds in the chart directly below will pay the distributions indicated on a per share basis on January 10, 2025 to all shareholders of record as of December 30, 2024 (ex-dividend date December 30, 2024).TickerExchangeFundAmountAEFNYSE Americanabrdn Emerging Markets Equity Income Fund, Inc.$ 0.1000AGDNYSEabrdn Global Dynamic Dividend Fund$ 0.1100AODNYSEabrdn Total Dynamic Dividend Fund$ 0.1000ASGINYSEabrdn Global Infrastructure Income Fund$ 0.2000AWPNYSEabrdn Global Premier Properties Fund$ 0.0400FAXNYSE Am

      12/10/24 4:17:00 PM ET
      $AEF
      $AGD
      $AWP
      $FAX
      Finance/Investors Services
      Finance
      Trusts Except Educational Religious and Charitable
      Investment Managers

    $AEF
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by abrdn Emerging Markets Equity Income Fund Inc.

      SC 13G/A - ABRDN EMERGING MARKETS EQUITY INCOME FUND, INC. (0000846676) (Subject)

      11/14/24 4:05:57 PM ET
      $AEF
      Finance/Investors Services
      Finance
    • SEC Form SC 13G/A filed by abrdn Emerging Markets Equity Income Fund Inc. (Amendment)

      SC 13G/A - ABRDN EMERGING MARKETS EQUITY INCOME FUND, INC. (0000846676) (Subject)

      2/14/24 4:04:58 PM ET
      $AEF
      Finance/Investors Services
      Finance
    • SEC Form SC 13G/A filed by abrdn Emerging Markets Equity Income Fund Inc. (Amendment)

      SC 13G/A - ABRDN EMERGING MARKETS EQUITY INCOME FUND, INC. (0000846676) (Subject)

      2/13/24 4:28:17 PM ET
      $AEF
      Finance/Investors Services
      Finance