This 8% Dividend is Safe (and Trading at 7% Discount!)

Do retirement solutions come any better than a safe 8% dividend, paid monthly? This is what we contrarian income seekers love about the Aberdeen Asia-Pacific Income Fund (FAX) . It pays 8% annually, dishes its dividend every month and, thanks to the debt situation in China, trades at a 7% discount to its net asset value (NAV)! Last week, we pointed out a “mini-panic” buying opportunity in FAX . Its price had suffered, but you wouldn’t know it by looking at the fund’s NAV—the value of its bonds minus debt—which has barely budged over the past month: NAV Was Steady, Pullback Was Price Only Its price had been punished because armchair market observers fear Evergrande and the Chinese credit markets.… Read more
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