Aberdeen's Income fund offer period raises £110m

Aberdeen's Jersey-based Asian Income fund managed by Hugh Young has raised £110m during its offer period, which closed on 16 December 2005. The London-listed vehicle aims to provide an initial gross yield of 4.5%, paid twice a year. The group is looking to grow the dividends over time. Young said: "Asia Pacific companies have successfully restructured since the regional crisis. Balance sheets are stronger, cash generation has improved and businesses are more focused. Dividend payout momentum is improving, making Asia Pacific one of the highest yielding regions globally. "The fund will p...