Benefiting from the Rate Cut
12/17/2008 2:03 pm EST
Aberdeen Asia-Pacific Income Fund Inc. (FAX) - This closed-end, non-diversified fund primarily invests in securities issued by government entities, banks, companies, and other entities in Asia, Australia, and New Zealand.
FAX fell from above $6 to almost $3 in the recent market decline. But with the cut in interest rates in the United States, the strength of foreign currencies could provide for a move from Tuesday's close of just above $4 to between $5 and $5.50.
FAX has a dividend yield of more than 10%.
By Sam Collins of OptionsZone.com