At a Special Meeting of Stockholders held today, stockholders of The India Fund, Inc. (the “Fund”) voted to approve a new investment management agreement between the Fund and Aberdeen Asset Management Asia Limited (“Aberdeen Asia”). It is expected that the new investment management agreement will become effective on December 19, 2011 in conjunction with the transition of investment management services from Blackstone Asia Advisors L.L.C., the Fund’s current investment manager, to Aberdeen Asia, an affiliate of Aberdeen Asset Management PLC (together with its subsidiaries, “Aberdeen”).
The Fund is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in Indian equity securities. The Fund is traded on the New York Stock Exchange under the trading symbol “IFN.”
Aberdeen is an independent asset manager founded in 1983, with $265 billion in assets under management (“AUM”) as of September 30, 2011. Singapore is the regional head office of Aberdeen’s Asian operations, which were established in 1992. Asian equity securities in both regional and single country mandates are core investment competencies of Aberdeen. Aberdeen manages over $70 billion in Asia Pacific (excluding Japan) equity securities. Closed-end management investment companies have formed part of Aberdeen’s business since its inception and remain an important element of its client base in the United States and globally. Aberdeen currently manages 30 closed-end management investment companies with approximately $13 billion in AUM as of September 30, 2011.
Information on the Fund can be obtained by calling the Fund’s toll-free phone number at 1-866-839-5205.
This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as “may,” “will,” “expect,” “anticipate,” “estimate,” “believe,” “continue” or other similar words. Such forward-looking statements are based on the funds’ current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund’s filings with the SEC