UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-06342
Exact name of registrant as specified in
charter: Aberdeen Global Income Fund, Inc.
Address of principal executive offices: 800 Scudders Mill Road,
Plainsboro,
New Jersey 08536
Name and address of agent for service: Mr Beverley Hendry,
300 S.E. 2nd Street, Suite #820,
Fort Lauderdale,
Florida 33301
Registrant's telephone number, including
area code: 1-866-839-5233
Date of fiscal year end: 10/31/05
Date of reporting period: 7/31/05
Item 1 - Schedule of Investments
Portfolio of Investments - (unaudited)
As of July 31, 2005
Principal
Amount Moody's S&P Value
(000) Description Rating Rating (US$)
-----------------------------------------------------------------------------------------------------------------------------------
LONG-TERM INVESTMENTS - 110.4%
AUSTRALIA - 24.3%
Brisbane Airport Corporation, Ltd.,
AUD 4,000 7.30%, 6/30/10 Aaa AAA $ 3,224,492
Commonwealth of Australia,
AUD 1,750 10.00%, 10/15/07 Aaa AAA 1,462,408
AUD 1,750 7.50%, 9/15/09 Aaa AAA 1,446,017
AUD 250 5.75%, 6/15/11 Aaa AAA 195,995
AUD 100 6.50%, 5/15/13 Aaa AAA 82,632
AUD 300 6.00%, 2/15/17 Aaa NR 244,088
GE Capital Australia,
AUD 600 6.75%, 9/15/07 Aaa AAA 465,779
New South Wales Treasury Corporation,
AUD 3,700 7.00%, 12/01/10 NR AAA 3,021,865
AUD 550 6.00%, 5/01/12 Aaa AAA 431,893
Northern Territory Treasury,
AUD 3,250 6.75%, 7/14/09 NR NR 2,586,192
Publishing & Broadcasting Finance, Ltd.,
AUD 800 6.15%, 7/04/15 NR A- 607,512
Queensland Treasury Corporation,
AUD 1,500 8.00%, 9/14/07 Aaa AAA 1,200,194
AUD 1,000 8.00%, 9/14/07 (Global) Aaa AAA 801,685
AUD 1,500 6.00%, 6/14/11 Aaa AAA 1,175,707
AUD 2,700 6.00%, 8/14/13 Aaa AAA 2,143,458
AUD 3,500 6.00%, 10/14/15 Aaa AAA 2,790,660
AUD 1,250 6.00%, 6/14/21 Aaa AAA 1,010,347
Tabcorp Investment No. 4 Pty, Ltd.,
AUD 1,000 6.50%, 10/13/11 NR BBB+ 776,939
Telstra Corporation, Ltd.,
NZD 1,000 7.15%, 11/24/14 A1 A+ 699,943
Treasury Corporation of Victoria,
AUD 1,500 10.25%, 11/15/06 Aaa AAA 1,209,847
Walker Finance Pty, Ltd.,
AUD 700 5.917%, 12/30/11 NR AAA 533,861
Western Australia Treasury Corporation,
AUD 3,500 8.00%, 10/15/07 Aaa AAA 2,805,520
AUD 2,650 8.00%, 6/15/13 Aaa AAA 2,343,495
------------
31,260,529
------------
AUSTRIA - 0.9%
Republic of Austria,
CAD 1,300 5.00%, 12/20/24(a) Aaa AAA 1,111,683
------------
BELGIUM - 0.3%
Carmeuse Lime BV,
EUR 300 10.75%, 7/15/12 Ba3 B+ 420,877
------------
BRAZIL - 1.5%
Federal Republic of Brazil,
USD 1,200 10.00%, 8/07/11 B1 BB- 1,356,000
USD 500 11.00%, 8/17/40 B1 BB- 588,000
------------
1,944,000
------------
CANADA - 20.4%
Canadian Government,
CAD 2,000 7.25%, 6/01/07 NR AAA 1,752,551
NZD 1,000 6.625%, 10/03/07 Aaa AAA 690,444
CAD 3,000 10.25%, 3/15/14 Aaa AAA 3,595,644
CAD 2,000 8.00%, 6/01/23 Aaa AAA 2,396,280
CAD 2,000 9.00%, 6/01/25 NR AAA 2,653,893
Canada (Cayman),
CAD 750 7.25%, 6/01/08 Aaa NR 666,914
Ontario Hydro,
CAD 500 8.50%, 5/26/25 Aa2 AA 611,240
Province of British Columbia,
CAD 2,000 9.50%, 1/09/12 Aa1 AA 2,169,925
Province of Manitoba Series EMTN,
CAD 3,500 7.00%, 5/21/07 Aa2 AA- 3,039,443
Province of New Brunswick,
CAD 2,000 7.75%, 1/13/14 Aa3 AA- 2,035,656
Province of Newfoundland,
CAD 1,000 5.125%, 12/29/10 A3 A- 865,051
Province of Ontario,
NZD 2,000 5.75%, 3/03/08 Aa2 AA 1,341,142
CAD 1,000 5.25%, 11/30/11 Aa2 AA 871,333
NZD 1,500 6.25%, 6/16/15 Aa2 AA 1,015,202
Quebec Hydro,
CAD 2,000 9.625%, 7/15/22 A1 A+ 2,565,896
------------
26,270,614
------------
Aberdeen Global Income Fund, Inc.
Portfolio of Investments - (unaudited)
As of July 31, 2005
Principal
Amount Moody's S&P Value
(000) Description Rating Rating (US$)
-----------------------------------------------------------------------------------------------------------------------------------
LONG-TERM INVESTMENTS - CONTINUED
CAYMAN ISLANDS - 0.5%
RMH Finance, Ltd.,
GBP 300 8.80%, 8/28/17 Ba1 NR $ 672,107
------------
COLOMBIA - 1.5%
Republic of Colombia,
USD 1,600 10.375%, 1/28/33 Ba2 BB 1,896,000
------------
FINLAND - 2.0%
Republic of Finland,
GBP 1,250 10.125%, 6/22/08 Aaa AAA 2,534,316
------------
FRANCE - 1.6%
Dexia Municipal Agency,
NZD 3,000 7.00%, 11/26/07 Aaa AAA 2,064,799
------------
GERMANY - 2.7%
Bayerische Hypo-und Vereinsbank AG,
NZD 2,000 7.00%, 9/14/05 A3 A- 1,365,504
Cognis GmbH,
EUR 225 9.50%, 5/15/14 B3 B- 300,627
Kreditanstalt fuer Wiederaufbau,
MXN 15,000 10.00%, 6/07/10 Aaa AAA 1,434,866
Kronos International, Inc.,
EUR 310 8.875%, 6/30/09 B2 BB- 399,135
------------
3,500,132
------------
IRELAND - 0.3%
Valentia Telecommunications, LTD,
EUR 300 7.25%, 8/15/13 Ba3 BB- 399,925
------------
JAMAICA - 1.1%
Government of Jamaica,
EUR 1,000 11.00%, 7/27/12 B1 B 1,390,778
------------
KAZAKHSTAN - 0.8%
Kazkommerts International BV,
USD 1,000 7.875%, 4/07/14 Baa2 BB 1,026,500
------------
LUXEMBOURG - 1.8%
Council of Europe,
CAD 1,000 5.25%, 2/27/12 Aaa AAA 881,677
Rhiag SA,
EUR 310 10.75%, 6/05/07 B2 B- 380,308
Vimpel-Communications,
USD 1,000 8.00%, 2/11/10 B1 BB- 1,010,272
------------
2,272,257
------------
MEXICO - 1.9%
Mexican Government,
MXN 19,000 8.00%, 12/19/13 Baa1 NR 1,643,626
Mexican Fixed Rate Bonds,
MXN 9,000 9.50%, 12/18/14 NR A 850,656
------------
2,494,282
------------
NETHERLANDS - 2.1%
Bank Nederlandse Gemeenten NV,
NZD 1,000 5.25%, 6/17/09 Aaa AAA 658,317
Rabo Australia, Ltd.,
NZD 3,000 6.25%, 11/22/11 Aaa AAA 2,070,402
------------
2,728,719
------------
NEW ZEALAND - 6.6%
Auckland Healthcare Services, Ltd,
NZD 1,000 7.75%, 9/15/15 Aaa AAA 741,199
Bank of New Zealand,
NZD 1,000 7.50%, 9/15/08 NR AA- 700,741
Deutsche Bank AG,
NZD 2,000 7.14%, 6/16/14 A1 A+ 1,388,995
Housing New Zealand,
NZD 1,500 8.00%, 11/15/06 Aaa AA 1,040,405
New Zealand Government,
NZD 3,000 6.50%, 4/15/13 Aaa AAA 2,152,824
NZD 2,500 6.00%, 4/15/15 Aaa AAA 1,743,977
Powerco, Ltd.,
NZD 1,000 6.39%, 3/29/13 NR AAA 669,829
------------
8,437,970
------------
Aberdeen Global Income Fund, Inc.
Portfolio of Investments - (unaudited)
As of July 31, 2005
Principal
Amount Moody's S&P Value
(000) Description Rating Rating (US$)
-----------------------------------------------------------------------------------------------------------------------------------
LONG-TERM INVESTMENTS - CONTINUED
PERU - 1.8%
Republic of Peru,
USD 1,300 9.875%, 2/06/15 Ba3 BB $ 1,608,750
USD 700 7.35%, 7/21/25 Ba3 BB 695,450
------------
2,304,200
------------
PHILIPPINES - 1.3%
Philippine Long Distance Telephone Company,
USD 1,400 11.375%, 5/15/12 Ba3 BB- 1,687,000
Republic of Philippines,
USD 50 9.375%, 1/18/17 B1 BB- 53,214
------------
1,740,214
------------
RUSSIA - 1.4%
Gazprom OAO,
USD 800 9.625%, 3/01/13 NR BB- 973,680
JSC Severstal,
USD 800 9.25%, 4/19/14 B2 B+ 826,880
------------
1,800,560
------------
SOUTH AFRICA - 1.0%
Republic of South Africa,
ZAR 7,900 10.00%, 2/28/08 A2 A 1,279,154
------------
SWITZERLAND - 5.3%
Eurofima,
AUD 3,500 9.875%, 1/17/07 Aaa AAA 2,819,528
AUD 200 6.00%, 1/28/14 Aaa AAA 156,226
AUD 1,500 6.25%, 12/28/18 Aaa AAA 1,207,644
European Investment Bank,
NZD 2,300 7.00%, 12/17/07 Aaa AAA 1,585,178
TRY 1,500 12.50%, 4/01/09 Aaa AAA 1,124,922
------------
6,893,498
------------
TURKEY - 0.8%
Republic of Turkey,
USD 800 11.00%, 1/14/13 B1 BB- 1,010,000
------------
UNITED KINGDOM - 22.2%
Barclays Bank PLC,
GBP 1,000 9.875%, 5/29/49 Aa2 A+ 1,990,153
British Gas PLC,
GBP 1,400 8.875%, 7/08/08 A2 A 2,742,579
EGG Banking PLC,
GBP 500 5.125%, 12/21/07 A3 NR 885,581
Prudential Finance B.V.,
GBP 500 9.375%, 6/04/07 NR AA- 952,341
United Kingdom Treasury,
GBP 4,575 8.50%, 12/07/05 Aaa AAA 8,170,216
GBP 1,100 7.50%, 12/07/06 Aaa AAA 2,020,124
GBP 3,800 5.75%, 12/07/09 Aaa AAA 7,095,019
GBP 1,500 8.00%, 9/27/13 Aaa AAA 3,312,684
GBP 600 8.00%, 12/07/15 Aaa AAA 1,381,930
------------
28,550,627
------------
UNITED STATES - 5.9%
AGCO Corporation,
EUR 225 6.875%, 4/15/14 B1 BB- 287,304
American Standard, Inc.,
GBP 221 8.25%, 6/01/09 Baa3 BBB- 426,055
Bank of America Corporation,
AUD 500 6.50%, 12/05/08 Aa2 AA- 388,834
Constellation Brands, Inc.,
GBP 200 8.50%, 11/15/09 Ba2 BB 383,810
Dana Corporation,
EUR 300 9.00%, 8/15/11 Ba2 BBB- 444,563
General Electric Capital Corporation,
NZD 1,000 6.625%, 2/04/10 Aaa AAA 685,288
International Finance Corp,
NZD 4,000 6.75%, 7/15/09 Aaa AAA 2,792,426
Lear Corporation,
EUR 310 8.125%, 4/01/08 Baa3 BBB- 404,783
Merrill Lynch & Co., Inc.,
AUD 200 6.75%, 3/12/14 Aa3 A+ 159,252
SLM Corp,
NZD 1,500 6.50%, 6/15/10 A2 A 1,020,492
Aberdeen Global Income Fund, Inc.
Portfolio of Investments - (unaudited)
As of July 31, 2005
Principal
Amount Moody's S&P Value
(000) Description Rating Rating (US$)
-----------------------------------------------------------------------------------------------------------------------------------
LONG-TERM INVESTMENTS - CONCLUDED
TRW Automotive, Inc.,
EUR 194 10.125%, 2/15/13 Ba3 BB- $ 275,702
Warner Music Group,
GBP 150 8.125%, 4/15/14 B3 B- 269,371
Wells Fargo & Co.,
AUD 700 5.75%, 7/12/10 Aa1 AA- 530,670
------------
7,537,880
------------
Total long-term investments
(cost US$122,731,468) 142,072,291
------------
SHORT-TERM INVESTMENTS - 10.1%
UNITED STATES - 10.1%
State Street Bank and Trust Company Time Deposit,
CAD 4,553 2.00%, 8/03/05 NR NR 3,713,855
State Street Bank and Trust Company Fixed Deposit,
GBP 2,676 4.650%, 8/03/05 NR NR 4,711,351
Repurchase Agreement, State Street Bank and Trust
Company, 2.97% dated 7/29/05, due 8/01/05 in the
amount of $4,642,149 (collateralized by $3,650,000 U.S.
USD 4,641 Treasury Bonds, 7.50% due 11/15/16; value $4,735,875) NR NR 4,641,000
------------
Total short-term investments
(cost US$12,985,432) 13,066,206
------------
-----------------------------------------------------------------------------------------------------------------------------------
Total Investments - 120.5% (cost US$135,716,900) 155,138,497
Other assets in excess of liabilities - 2.8% 3,603,318
Liquidation value of preferred stock - (23.3%) (30,000,000)
-----------------------------------------------------------------------------------------------------------------------------------
Net Assets Applicable to Common Shareholders - 100.0% $128,741,815
-----------------------------------------------------------------------------------------------------------------------------------
AUD - Australian dollar
CAD - Canadian dollar
EUR - Euro
GBP - British pound
MXN - Mexican Peso
NZD - New Zealand dollar
TRY - Turkish Lira
USD - United States dollar
ZAR - South African Rand
NR - Not rated by Moody's or Standard & Poor's.
(a) Security is exempt from registration under Rule 144A of the Securities Act
of 1933. These securities may be resold in transactions exempt from
registration, normally to qualified institutional buyers. At July 31,
2005, the aggregate market value of these securities amounted to
$1,111,683 or 0.9% of net assets applicable to common shareholders.
Interest Rate Swap Agreements Unrealized
Counterparty Termination Date Notional Amount (000) Fixed Rate Floating Rate Appreciation
------------------------------------------------------------------------------------------------------------------------------------
UBS AG October 31, 2005 4,800 2.1025% 1 month LIBOR $ 23,299
UBS AG October 31, 2006 4,800 2.6900% 1 month LIBOR 87,634
UBS AG October 31, 2007 7,200 3.1600% 1 month LIBOR 171,367
UBS AG October 31, 2008 7,200 3.5400% 1 month LIBOR 168,473
---------
$ 450,773
---------
-----------------------------------------------------------------------------------------------
Unrealized
Futures Contracts Appreciation/
Expiration Contracts (Depreciation)
-----------------------------------------------------------------------------------------------
Purchase Contract:
Australian Treasury Bond 6% - 10 year September 2005 5 $ 2,745
Sale Contract:
Australian Treasury Bond 6% - 3 year September 2005 8 (1,622)
Australian Treasury Bond 6% - 10 year September 2005 8 (2,436)
-----------
$ (1,313)
-----------
-----------------------------------------------------------------------------------------------
Tax Cost of Investments
The United States federal income tax basis of the Fund's investments and net
unrealized appreciation as of July 31, 2005 were as follows:
Cost Appreciation Depreciation Net Unrealized Appreciation
---- ------------ ------------ ---------------------------
$ 152,465,092 $4,933,455 ($2,260,050) $ 2,673,405
Aberdeen Global Income Fund, Inc.
Item 2 - Controls and Procedures
(a) It is the conclusion of the Registrant's principal executive officer
and principal financial officer that the effectiveness of the
Registrant's current disclosure controls and procedures (such
disclosure controls and procedures having been evaluated within 90
days of the date of this filing) provide reasonable assurance that
the information required to be disclosed by the Registrant has been
recorded, processed, summarized and reported within the time period
specified in the Commission's rules and forms and that the
information required to be disclosed by the Registrant has been
accumulated and communicated to the Registrant's principal executive
officer and principal financial officer in order to allow timely
decisions regarding required disclosure.
(b) There have been no changes in the Registrant's internal control over
financial reporting that occurred during the Registrant's last
fiscal quarter that have materially affected, or are reasonably
likely to materially affect, the Registrant's internal control over
financial reporting.
Item 3 - Exhibits
Certifications required pursuant to Rule 30a-2(a) under the Investment
Company Act of 1940, as amended, are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Aberdeen Global Income Fund, Inc.
By: /s/Martin Gilbert
---------------------------------
Martin Gilbert,
President of
Aberdeen Global Income Fund, Inc.
Date: September 14, 2005
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the Registrant and in the capacities and on the
dates indicated.
By: /s/Martin Gilbert
---------------------------------
Martin Gilbert,
President of
Aberdeen Global Income Fund, Inc.
Date: September 14, 2005
By: /s/Christian Pittard
---------------------------------
Christian Pittard,
Treasurer of
Aberdeen Global Income Fund, Inc.
Date: September 14, 2005