I have been a little slow to update on this so my apologies. Back in December I recommended the Aberdeen Chilean Closed Ended Fund.
I liked the story of Chile, and thought the country was due for a rebound from political and commodity based trends. It turns out the the fund had such low volume that Aberdeen decided to roll up the Chile fund with other emerging market funds. After the roll up you should have had a little more in share value in the new fund called Aberdeen Emerging Markets Equity Income Fund, Inc. under the ticker “AEF”.
You can read more about the changes here: https://www.prnewswire.com/news-releases/abderdeen-emerging-markets-equity-income-fund-inc-announces-closing-of-closed-end-fund-reorganizations-300638711.html
Since we purchased the closed ended fund for the Chilean story, I believe we should sell these shares and used the cash to move on.
In addition the U.S. dollar is moving up which can add more pressure on emerging markets. The market does not seem to like the transition right off the bat either.
Please sell AEF. We will book this in our closed positions for a 1.55% loss.
We will no longer be tracking this stock.by