PHILADELPHIA, Nov. 28, 2011 /PRNewswire/ --Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc. announces the retirement of Mr. Walter Eberstadt from the Board of Directors and the appointment of Mr. Alexander Zagoreos.
Mr. Enrique R. Arzac, Chairman, comments: "On behalf of the Fund's Board, I would like to thank Mr. Eberstadt for his invaluable contribution to the Fund during his six year tenure as a Director and wish him the best of success in all his future endeavors. In addition, we are very pleased to welcome Mr. Zagoreos who brings significant global and emerging markets experience to the Fund and look forward to his contributions to the Fund and its shareholders."
Mr. Zagoreos is a Senior Advisor to Lazard Asset Management where he was a Partner and Managing Director until 2006. Mr. Zagoreos joined Lazard Freres and Co. in 1977 and in the course of his career there, was responsible for establishing and managing several global and emerging markets funds.
Mr. Zagoreos received a B.A. from Columbia College, as well as a MBA and Master of International Affairs from Columbia University. He served in the US Navy Reserve and was honorably discharged as a Lieutenant.
Important Information
Closed-end funds have a one-time initial public offering and then are subsequently traded on the secondary market through one of the stock exchanges. The investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that a fund will achieve its investment objective. Past performance does not guarantee future results.
International investing entails special risk considerations, including currency fluctuations, lower liquidity, economic and political risks, and differences in accounting methods; these risks are generally heightened for emerging market investments. Since the Fund focuses on companies involved in telecommunications and infrastructure, an investment in the Fund may involve a greater degree of risk than an investment in other funds that seek capital appreciation by investing in a broader mix of issuers.
Aberdeen Asset Management is the marketing name in the U.S. for the following affiliated, registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Management Investment Services Ltd., Aberdeen Asset Management Ltd. and Aberdeen Asset Management Asia Ltd. (collectively, the 'Aberdeen Advisers'). Each of the Aberdeen Advisers is wholly owned by Aberdeen Asset Management PLC. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.
SOURCE Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc.
