Richard Davies wrote: The UK has a good crop of technology pioneers in cloud computing - for example ElasticHosts, FlexiScale, Flexiant, OnApp - and also some strong government initiatives such as G-Cloud.
We will have to see whether this kind of technical leadership converts into swift mass-market adoption or not.
PHILADELPHIA, Sept. 8 /PRNewswire/ -- Aberdeen Emerging Markets Telecommunications Fund, Inc. (the "Fund") (NYSE AMEX: ETF), a closed-end equity fund, announced today its performance data and portfolio composition as of July 31, 2010.
The Fund's total returns for various periods through July 31, 2010 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):
Market Price Total
Period NAV Total Return % Return %
Cumulative Annualized Cumulative Annualized
Since
inception 285.8 7.7 240.0 7.0
(June 1992)
10-years 39.7 3.4 62.9 5.0
5-years 66.8 10.8 72.0 11.4
3-years -13.1 -4.6 -16.4 -5.8
------- ----- ---- ----- ----
1-year 8.7 6.0
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On July 31, 2010, the Fund's net assets amounted to US$158.6 million and the Fund's NAV per share was $19.24.
As of July 31, 2010, the portfolio was invested as follows:
Portfolio Geographic
Composition Exposure %
Hong Kong 12.7
Mexico 9.8
India 8.3
Taiwan 8.2
Indonesia 7.2
Malaysia 5.3
United States 5.3
Thailand 5.2
Russia 5.1
Israel 5.0
Portugal 4.3
Singapore 4.3
South Africa 4.0
Netherlands 3.8
Kenya 3.5
Chile 3.0
Croatia 2.5
Morocco 2.2
------- ---
Brazil 0.3
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The Fund's ten largest equity holdings as of July 31, 2010, representing 66.6% of net assets, were:
Percent
Stock of
Net
Assets
China Mobile Limited 11.9
America Movil SAB de CV 9.8
Bharti Airtel Limited 8.3
Taiwan Mobile Company Limited 8.1
Digi.com Berhad 5.3
Mobile Telesystems OJSC 5.1
Advanced Info Service PCL 4.9
Telekomunikasi TBK 4.6
Bezeq Israeli Telecommunications
Corporation Limited 4.3
-------------------------------- ---
Singapore Telecommunications 4.3
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Important Information
Aberdeen Asset Management Inc. has prepared this report based on information sources believed to be accurate and reliable. However, the figures are unaudited and neither the Fund, Aberdeen Asset Management Investment Services Limited (the Investment Adviser), nor any other person guarantees their accuracy. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information. Aberdeen is a U.S. registered service mark of Aberdeen Asset Management PLC.
Total return figures with distributions reinvested at the dividend reinvestment price are stated net-of-fees and represents past performance. Past performance is not indicative of future results, current performance may be higher or lower. Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown. Inception date June 17, 1992.