abrdn Emerging Markets Equity Income Fund

AEF

Market cap $347M

abrdn Emerging Markets ex-China Fund offers diversified emerging market equity exposure, excluding China, with a forward yield of 9.11% and a -10.3% discount. The fund is concentrated in Taiwan, India, and South Korea (66% of assets) and uses moderate leverage, with top holdings like TSMC at 16%. AEF has a mixed performance record but delivered a strong 50% return in 2025, outperforming the S&P 500. Its managed distribution policy now pays out 10% of NAV yearly, raising some sustainability concerns.

abrdn Emerging Markets ex-China Fund rose by 10.62% over the quarter, outpacing the benchmark by 31 basis points. In Taiwan, the AI-driven tech rally continued, lifting local tech stocks that are at the epicentre of the US AI infrastructure buildout. Stock selection was positive. We added South African technology conglomerate Naspers and global miner Rio Tinto over the quarter, given their attractive prospects.

PHILADELPHIA, Dec. 9, 2025 /PRNewswire/ -- The following Aberdeen Investments U.S. Closed-End Funds (NYSE: ACP, AGD, AOD, ASGI, AWP, THQ, THW and NYSE American: 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 12, 2026 to all shareholders of record as of December 31, 2025 (ex-dividend date December 31, 2025).

The abrdn Emerging Markets ex-China Fund offers exposure to emerging markets outside China, managing over $300 million in assets. AEF's high net expense ratio of 1.22% is offset by a strong 9.51% NAV distribution yield and a current 11% discount to NAV. The fund tracks the MSCI Emerging Markets Ex. China Index, focusing on blue-chip names like TSMC and Samsung, with heavy IT sector exposure.

PHILADELPHIA , Sept. 10, 2025 /PRNewswire/ -- The following Aberdeen Investments U.S. Closed-End Funds (NYSE: ACP, AGD, AOD, ASGI, AWP, THQ, THW and NYSE American: 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 September 30, 2025 to all shareholders of record as of September 23, 2025 (ex-dividend date September 23, 2025).

AEF offers unique emerging markets exposure excluding China, with policy changes and a new benchmark tied to a conditional tender offer. Activist pressure has led to tender offers and a higher distribution yield, narrowing the fund's discount but raising questions on potential sustainability. Given the efforts of the fund to narrow the discount, it has worked to some degree, but that can also make it less appealing for a new investor today.

PHILADELPHIA , June 10, 2025 /PRNewswire/ -- The following Aberdeen Investments U.S. Closed-End Funds (NYSE: ACP, AGD, AOD, ASGI, AWP, THQ, THW and NYSE American: 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 Dividend Fund $   0.1100 AOD NYSE abrdn Total Dynamic Dividend Fund $   0.0900 ASGI NYSE abrdn Global Infrastructure Income Fund $   0.2100 AWP NYSE abrdn Global Premier Properties Fund $   0.0400 FAX NYSE American abrdn Asia-Pacific Income Fund, Inc. $   0.1650 FCO NYSE American abrdn Global Income Fund, Inc. $   0.0700 THQ NYSE abrdn Healthcare Opportunities Fund $   0.1800 THW NYSE abrdn World Healthcare Fund $   0.1167 VFL NYSE American abrdn National Municipal Income Fund $   0.0500 FCO's shares are currently trading at a premium to net asset value.

PHILADELPHIA, PA / ACCESS Newswire / March 11, 2025 / abrdn Emerging Markets ex-China Fund, Inc. (NYSE American:AEF), (the "Fund"), a closed-end fund, announced today details of the first distribution under the increased 10% rate. The Fund will pay the $0.15 distribution indicated on a per share basis on March 31, 2025, to all shareholders of record as of March 25, 2025 (ex-dividend date March 25, 2025).

PHILADELPHIA, PA / ACCESS Newswire / February 25, 2025 / abrdn Emerging Markets Equity ex-China Fund, Inc. (formerly, abrdn Emerging Markets Equity Income Fund, Inc.) (NYSE American:AEF), announced today the final results of its cash tender for up to 10,150,355 shares, representing approximately 20% of the Fund's outstanding shares. The offer expired at 5:00 p.m.

PHILADELPHIA, PA / ACCESS Newswire / February 21, 2025 / abrdn Emerging Markets Equity Income Fund, Inc. (NYSE American:AEF), a non-diversified closed-end fund, announces today the preliminary results of its cash tender for up to 10,150,355 shares, representing approximately 20% of the Fund's outstanding shares. The offer expired at 5:00 p.m.