Aberdeen Australia Equity Fund, Inc. is a non-diversified closed-end fund. The Fund's principal investment objective is long-term capital appreciation through investment in equity securities. The Fund's secondary objective is current income from dividends and interest on Australian corporate and governmental securities. The Fund has investments in sectors, such as consumer discretionary, consumer staples, energy, financials, healthcare, industrials, materials, telecommunication services and utilities. The Fund's investment capabilities are in equities, fixed income and property. The Fund invests approximately 80% of its net assets, plus the amount of any borrowings for investment purposes in equity securities, which consists of common stock, preferred stock and convertible stock of companies. The Fund's manager is Aberdeen Asset Management Asia Limited.