FROM A LAND DOWN UNDER

Do you come from a land down under?
Where women glow and men plunder?
Can’t you hear, can’t you hear the thunder?
You better run, you better take cover.

—Men at Work, "Down Under"

Ever since I heard the 1981 hit song "Down Under" by Australian rock band Men at Work, I have been interested in almost all things from Australia. Up until now, I kept my niche interest in the country to things such as surfing, Foster’s beer and the late Steve Irwin’s "Crocodile Hunter" television show.

Well, I am happy to report that now my interest in Australia can be applied to my favorite subject — making money.

Take a look at the 52-week chart of the Aberdeen Australia Equity Fund Inc. (IAF). This fund’s performance is enough to make even the most xenophobic domestic investor abandon such chauvinism.

The principal investment objective of IAF is long-term capital appreciation primarily through investments in equity securities of Australian companies that are listed on the Australian Stock Exchange. IAF’s secondary objective is current income, which the fund derives mainly from dividends and interest on Australian corporate and government securities.

Aberdeen normally invests at least 80% of the fund’s net assets in equity securities that consist of common stock, preferred stock and convertible stock. The fund also may invest up to 10% of its total assets in unlisted equity securities, and in the debt securities issued by Australian companies and the Australian government.

What I really like here about this "wonder from down under" is the combination of both growth and income. I also like to invest in countries whose economies are in a bull market.

If you are looking for some international market exposures, or if you are looking to get both income and growth from your international allocations, you owe it to yourself to check out the Aberdeen Australia Equity Fund.

Now excuse me while I go put another "shrimp on the barbie."