Quarterly Schedule of Portfolio Holdings of Registered Mgmt Investment Companies

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

 

Investment Company Act file number:

   

811-04438

 

Exact name of registrant as specified in charter:

   

Aberdeen Australia Equity Fund, Inc.

 

Address of principal executive offices:

   

800 Scudders Mill Road,

Plainsboro, New Jersey 08536

 

Name and address of agent for service:

   

Mr Beverly Hendry,

300 S.E. 2nd Street, Suite #820,

Fort Lauderdale, Florida 33301

 

Registrant’s telephone number, including area code:

   

212-968-8800

 

Date of fiscal year end:

 

   

10/31/05

 

Date of reporting period:

   

1/31/05

 

 

Item 1 – Schedule of Investments

 

Portfolio of Investments (unaudited)

 

January 31, 2005

 

Shares         Description      (US$)

LONG-TERM INVESTMENTS—97.9%

                 

Common Stocks—97.9%

                 

Consumer Discretionary—12.4%

                 
     1,197,000    APN News & Media Corporation Limited    $ 4,582,418
     565,000    Billabong International Limited      5,276,053
     1,906,000    Pacifica Group Limited      4,327,770
     729,000   

TABCORP Holdings Limited

      10,010,710
              
                 24,196,951
              

Consumer Staples—14.1%

                 
     2,127,000    Foster’s Group Limited      8,587,739
     811,000    Lion Nathan Limited      5,153,572
     1,390,000    McGuigan Simeon Wines Limited      6,463,082
     656,000    Woolworths Limited      7,417,076
              
                 27,621,469
              

Energy—1.5%

                 
     188,000    Woodside Petroleum Limited      3,008,510
              

Financials—31.5%

                 
     960,000    Australia & New Zealand Banking Group Limited      15,317,970
     294,000    Australian Stock Exchange Limited      4,766,314
     125,631    Bendigo Bank Limited      956,053
     238,000    Commonwealth Bank of Australia      6,182,364
     1,260,000    QBE Insurance Group Limited*      14,890,662
     470,000    Suncorp-Metway Limited      6,792,823
     840,000    Westpac Banking Corporation Limited      12,498,392
              
                 61,404,578
              

Industrials—9.6%

                 
     355,507    Downer EDI Limited      1,410,561
     1,020,000    Leighton Holdings Limited*      9,596,049
     783,000    Patrick Corporation Limited      3,780,275
     1,410,000    Qantas Airway Limited      3,889,938
              
                 18,676,823
              

Materials—11.4%

                 
     1,026,000    BHP Billiton Limited      12,936,254
     283,000    Rio Tinto Limited      9,408,434
              
                 22,344,688
              

Property—4.8%

                 
     703,999    Westfield Group Limited      9,296,410
              

Telecommunication Services—9.8%

                 
     2,677,000    Telecom Corporation of New Zealand Limited      11,721,156
     1,932,000    Telstra Corporation Limited      7,396,184
              
                 19,117,340
              

Utilities—2.8%

                 
     506,000    Australian Gas Light Company Limited      5,391,714
              
                  

Total long-term Investments—97.9% (cost $114,898,670)

      191,058,483

Other assets in excess of liabilities—2.1%

                4,174,669

Net Assets—100.0%

              $ 195,233,152
              

 

*Portion of security is on loan.

 

Tax Cost of Investments

 

The United States federal income tax basis of the Fund's investments and net unrealized appreciation as of January 31, 2005 were as follows:

 

Cost
   Appreciation
   Depreciation
     Net Unrealized Appreciation
$142,267,130
   $
 52,152,713
   $
 (3,361,360
 )
   $
 48,791,353

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 last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

 

Item 3 – Exhibits

 

  (a)(1) Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 – 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 Australia Equity Fund, Inc.

By:  

/s/ Martin Gilbert

   

Martin Gilbert,

President of

    Aberdeen Australia Equity Fund, Inc.

 

Date: March 22, 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 Australia Equity Fund, Inc.

 

Date: March 22, 2005

 

By:  

/s/ Christian Pittard

   

Christian Pittard,

Treasurer of

    Aberdeen Australia Equity Fund, Inc.

 

Date: March 22, 2005