PHILADELPHIA, May 21, 2012 /PRNewswire/ -- Financial advisors are increasingly turning to closed-end funds to develop client investment solutions, according to the second annual survey of financial advisors conducted on behalf of Aberdeen Asset Management Inc., part of Aberdeen Group, the world's largest manager of emerging market closed-end funds as determined by both value and number. The survey was conducted online from March 29 to April 20, 2012 by Harris Interactive and surveyed 508 financial advisors through an intermediary panel of finance professionals managed by Harris.
Advisors surveyed cite that closed-end funds are suitable for many types of accounts, particularly for post-retiree income-generating purposes and individual retirement accounts. Advisors state that income is the primary reason for including closed-end funds in their recommendations citing ease of use, ability to use leverage and access to active, professional investment management. For additional details on the survey results, click here.
Continued need for more closed-end fund information
"This year's study reconfirmed that advisors continue to clamor for more information to help their clients understand the benefits of closed-end funds," said Gary Marshall, Chief Executive Officer of Aberdeen Asset Management Inc. "As the world's largest manager of emerging market closed-end funds, we are delighted that their portfolio construction and investment management advantages are increasingly recognized by U.S. financial advisors."Significant results of the advisor survey include:
- 63% of advisors recommend closed-end funds, up from 52% in 2011
- 50% of advisors cite that their clients implement their closed-end fund recommendations, up from 45% in 2011
- 62% of advisors state that additional research coverage on closed-end funds would improve their recommendations
- 45% of advisors state that increased client awareness and understanding of closed-end funds would improve their recommendations
- 64% of advisors recommend closed-end funds to clients between the age of 45-65; 52% of advisors recommend closed-end funds to clients under 45
- Aberdeen Asia-Pacific Income Fund, Inc. (NYSE AMEX: FAX)
- Aberdeen Asia-Pacific Income Investment Company Limited (TSX: FAP)
- Aberdeen Australia Equity Fund, Inc. (NYSE AMEX: IAF)
- Aberdeen Chile Fund, Inc. (NYSE AMEX: CH )*
- Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc. (NYSE AMEX: ETF )
- Aberdeen Global Income Fund, Inc. (NYSE AMEX: FCO)*
- Aberdeen Indonesia Fund, Inc. (NYSE AMEX: IF )
- Aberdeen Israel Fund, Inc. (NYSE AMEX: ISL )
- Aberdeen Latin America Equity Fund, Inc. (NYSE AMEX: LAQ)
- The Asia Tigers Fund, Inc. (NYSE: GRR)
- The India Fund, Inc. (NYSE: IFN)
- The Singapore Fund, Inc. (NYSE: SGF)
- First Trust /Aberdeen Global Opportunity Income Fund, Inc. (NYSE AMEX: FAM)
- First Trust /Aberdeen Emerging Opportunity Fund, Inc. (NYSE AMEX: FEO)
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