Voya Asia Pacific High Dividend Equity Income Fund T.IAE

Primary Symbol: IAE

Voya Asia Pacific High Dividend Equity Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is total return through a combination of current income, capital gains and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of dividend yielding equity securities of Asia Pacific companies. The Fund will seek to achieve its investment objective by investing at least 80% of its managed assets in dividend producing equity securities of, or derivatives having economic characteristics similar to the equity securities of Asia Pacific Companies that are listed and traded principally on Asia Pacific exchanges. The Fund will invest in approximately 60-120 equity securities and will select securities through a bottom-up process that is based upon quantitative screening and fundamental analysis. Voya Investments, LLC is an investment adviser of the Fund.

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Voya Asia Pacific High Dividend Equity Income Fund

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Post by goinonaprayeron Aug 22, 2011 11:12am

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Post# 18966561

Offshore Drilling Services

This is from the RBC Morning Market Commentary.

Not sure how to interpret this. If they had anything planned it seems like IAE should be able to get a bargain on any drilling activity due to the oversupply of rigs.

Oilfield Services – Optimism recedes… JPM reducing estimates for offshore drillers

JP Morgan has become more cautious with respect to the Offshore Drillers following another quarter of unremarkable fleet status reports, looming uncontraced newbuilds in the second half of 2011, and continued global contracting malaise. JPM’s has lowered its dayrate forecasts for floaters and jackups, and has reduced its 2012 and 2013 EPS estimates by 3% and 7%, respectively. JPM acknowledges the offshore drilling group is now already out of favour and these reductions may seem late, but they do not see dayrates rising above the $500,000 per day level until the second half of 2012 at the earliest. JPM believes the market is struggling with near-term overcapacity as newbuild floaters are being delivered in the second half without contracts while 5 deepwater and 22 midwater rig contracts roll off this fall.

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