ABRDN GLOBAL INCOME FUND, INC. ("FCO") PROPOSES MERGER WITH ABRDN ASIA-PACIFIC INCOME FUND ("FAX")
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 11 2025
0mins
Source: Newsfilter
Merger Announcement: The Boards of Directors of abrdn Global Income Fund, Inc. (FCO) and abrdn Asia-Pacific Income Fund, Inc. (FAX) have approved a merger of FCO into FAX, pending shareholder approval from FCO.
Shareholder Voting and Tax Implications: FCO shareholders will vote on the merger at a special meeting on December 10, 2025, and the reorganization is intended to be tax-free for U.S. federal income tax purposes, with no changes to FAX's current objectives or policies.
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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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- Shareholder Options: Shareholders can choose to receive distributions in cash or newly issued shares, enhancing investor flexibility, which may also impact the funds' market performance and liquidity.
- Transparency in Distribution Policy: An annual Form 1099-DIV will be sent to shareholders detailing the sources and tax treatment of distributions, improving corporate governance transparency and shareholder trust.
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- 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.
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- 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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- 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
