ABRDN GLOBAL INCOME FUND, INC. ("FCO") ISSUES UPDATE ON PROXY/REGISTRATION STATEMENT REVIEW DURING GOVERNMENT SHUTDOWN
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2025
0mins
Source: Newsfilter
Proxy Filing and Reorganization Proposal: abrdn Global Income Fund, Inc. (FCO) and abrdn Asia-Pacific Income Fund, Inc. (FAX) filed a proxy statement with the SEC regarding the proposed reorganization of FCO into FAX, which is pending SEC review.
Impact of Government Shutdown: The federal government shutdown that began on October 1, 2025, has limited SEC resources, delaying the review process and the effectiveness of the proxy statement.
Shareholder Communication: The proxy will not be distributed to FCO shareholders until it is declared effective by the SEC, and shareholders are advised to read the proxy for important information once available.
Investment Risks: The press release highlights that closed-end funds may trade at a premium or discount to their net asset value, and past performance does not guarantee future results, emphasizing the fluctuating nature of investment returns.
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Analyst Views on FAX
Wall Street analysts forecast FAX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FAX is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 15.800
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Current: 15.800
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About FAX
abrdn Asia-Pacific Income Fund, Inc. (the Fund) is a closed-end, non-diversified investment management company. The Fund's principal investment objective is to seek current income. The Fund aims to provide monthly income by investing primarily in locally researched Asian and Australian debt securities. The Fund invests at least 80% of its assets, plus the amount of any borrowings for investment purposes in Asia-Pacific debt securities, which includes debt securities of Asia-Pacific Country issuers, including securities issued by Asia-Pacific Country governmental entities, as well as by banks, companies and other entities which are located in Asia-Pacific Countries, and debt securities issued by a wholly owned subsidiary of an entity located in an Asia-Pacific Country, provided that the debt securities are guaranteed by the parent entity located in the Asia-Pacific Country. The Fund's investment manager is abrdn Asia Limited.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Quality Asset Allocation: High-grade and high-yield bonds provide reliable income and liquidity within the portfolio, and despite tight spreads, returns still depend on collecting coupons.
- Portfolio Management: By selecting closed-end funds with sustainable payouts and high-quality preferred stocks, the Easy Income portfolio can maintain stable cash flow amid market volatility.
See More
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- Transparent Distribution Sources: In compliance with the 1940 Investment Company Act, Aberdeen will disclose the sources of distributions to shareholders, including net investment income and capital gains, ensuring investors have a clear understanding of the origins of their payouts.
- Flexible Distribution Policy: The distribution policy for each fund can be modified by the board at any time, indicating that while current distributions are stable, they may be adjusted in response to market conditions, which could impact investor returns.
- Tax Information Disclosure: At the end of each calendar year, Aberdeen will send shareholders a Form 1099-DIV detailing the distribution amounts and their tax treatment, aiding investors in tax planning and ensuring compliance with regulations.
See More
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- Distribution Amount Overview: The funds will distribute amounts ranging from $0.0400 to $0.2100 per share, with the abrdn Global Infrastructure Income Fund offering the highest distribution at $0.2100, reflecting its robust income generation capabilities.
- Transparency in Distribution Policy: At the end of each calendar year, the funds will send a Form 1099-DIV to shareholders detailing the amounts and composition of distributions, enhancing transparency and trust among investors regarding tax implications.
- Investor Risk Advisory: The distribution policy is subject to modification at any time, and the distribution amounts should not be viewed as direct indicators of investment performance, reminding investors to consider market fluctuations affecting the funds' net asset values.
See More
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- Proxy Statement Progress: The issuance of the proxy statement was delayed due to the federal government shutdown, but it has now been filed with the SEC and will be mailed to shareholders after SEC approval, ensuring transparency and compliance.
- Tax Implications: The reorganization is intended to be treated as a tax-free reorganization for U.S. federal income tax purposes, and if approved, it will close in the second quarter of 2026, potentially benefiting shareholders by reducing tax liabilities.
- Investment Objectives Remain Unchanged: Post-reorganization, the investment objectives and policies of FAX will remain the same, with the Board believing this move is in the best interest of shareholders, aimed at enhancing investor confidence and optimizing asset management strategies.
See More
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- Shareholder Meeting Scheduled: abrdn Global Income Fund (FCO) has scheduled a special shareholder meeting for March 12, 2026, to vote on the reorganization into abrdn Asia-Pacific Income Fund (FAX), impacting all shareholders of record as of December 12, 2025.
- Proxy Statement Progress: The issuance of the proxy statement was delayed due to the federal government shutdown, but it has now been filed with the SEC, and will be mailed to shareholders after SEC approval, ensuring compliance and transparency in the process.
- Tax Implications: The reorganization is intended to be treated as a tax-free reorganization for U.S. federal income tax purposes, and if approved, is expected to close in the second quarter of 2026, potentially benefiting shareholders by reducing tax liabilities.
- Investment Objectives Unchanged: The investment objectives and policies of FAX will remain the same post-reorganization, with the Board believing that this move is in the best interest of shareholders, aimed at enhancing investor confidence and optimizing asset management strategies.
See More
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- Distribution Announcement: Aberdeen Investments has revealed that several closed-end funds will pay distributions on January 12, 2026, to shareholders of record as of December 31, 2025, indicating the company's ongoing commitment to shareholder returns.
- Distribution Amount Details: For instance, the abrdn Global Infrastructure Income Fund will distribute $0.2100 per share, while the abrdn Healthcare Opportunities Fund will distribute $0.1800 per share, reflecting the company's efforts to provide stable income.
- Investor Notification: At the end of each calendar year, shareholders will receive a Form 1099-DIV detailing the distribution amounts and their tax treatment, ensuring transparency and aiding investors in tax planning.
- Distribution Policy Risks: The distribution policies of the funds may be modified at any time, which could impact the funds' net assets and market prices, highlighting the importance of risk management in investment decisions.
See More
