Gates Foundation Trust Updates Passive Stake in ABRDN EM Fund

TL;DR

**Gates Foundation Trust still holds ABRDN EM Fund shares, confirming their passive investment.**

AI Summary

The Bill & Melinda Gates Foundation Trust filed an amended SC 13G/A on February 13, 2024, indicating their ownership in ABRDN Emerging Markets Equity Income Fund, Inc. (formerly Aberdeen Emerging Markets Equity Income Fund, Inc.) as of December 31, 2023. This filing, an amendment to a previous disclosure, updates their passive investment position in the fund. For investors, this matters because it confirms the continued, albeit passive, involvement of a major institutional investor, which can be seen as a vote of confidence in the fund's long-term strategy.

Why It Matters

This filing confirms the Bill & Melinda Gates Foundation Trust's ongoing, passive investment in ABRDN Emerging Markets Equity Income Fund, Inc., signaling their continued belief in the fund's value.

Risk Assessment

Risk Level: low — This is a routine amendment filing by a passive investor, indicating no immediate change in investment strategy or significant market risk.

Analyst Insight

Investors should view this as a routine update from a significant institutional investor, confirming their existing passive stake. It doesn't signal an immediate buy or sell, but rather reinforces the fund's long-term appeal to large endowments.

Key Numbers

• 00301W105 — CUSIP Number (identifies the Common Stock, $0.001 par value per share of ABRDN Emerging Markets Equity Income Fund, Inc.)
• 0000846676 — Central Index Key (CIK) (identifies ABRDN EMERGING MARKETS EQUITY INCOME FUND, INC.)
• 0001166559 — Central Index Key (CIK) (identifies the Bill & Melinda Gates Foundation Trust)

Key Players & Entities

• ABRDN EMERGING MARKETS EQUITY INCOME FUND, INC. (company) — the subject company of the filing
• Bill & Melinda Gates Foundation Trust (company) — the reporting person filing the SC 13G/A
• Melinda French Gates (person) — a group member associated with the reporting person
• William H. Gates III (person) — a group member associated with the reporting person
• December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• The Bill & Melinda Gates Foundation Trust will maintain a passive investment strategy in ABRDN Emerging Markets Equity Income Fund, Inc. (Bill & Melinda Gates Foundation Trust) — high confidence, target: December 31, 2024
• ABRDN Emerging Markets Equity Income Fund, Inc. will continue to attract institutional investors due to its focus on emerging markets. (ABRDN Emerging Markets Equity Income Fund, Inc.) — medium confidence, target: December 31, 2024

FAQ

Key Financial Figures

• $0.001 — Inc. (Name of Issuer) Common Stock, $0.001 par value per share (Title of Class o

Filing Documents

• tm245590d6_sc13ga.htm (SC 13G/A) — 89KB
• 0001104659-24-019927.txt ( ) — 91KB

From the Filing

SC 13G/A 1 tm245590d6_sc13ga.htm SC 13G/A UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* Aberdeen Emerging Markets Equity Income Fund, Inc. (Name of Issuer) Common Stock, $0.001 par value per share (Title of Class of Securities) 00301W105 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the prior cover page. The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 00301W105 1. Names of Reporting Persons Bill & Melinda Gates Foundation Trust 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Citizenship or Place of Organization Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power -0- 6. Shared Voting Power 2,815,225 (1) 7. Sole Dispositive Power -0- 8. Shared Dispositive Power 2,815,225 (1) 9. Aggregate Amount Beneficially Owned by Each Reporting Person 2,815,225 (1) 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 5.5% (2) 12. Type of Reporting Person (See Instructions) OO (1) For purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), all shares of common stock (“Common Stock”) of Aberdeen Emerging Markets Equity Income Fund, Inc. (the “Issuer”) beneficially owned by Bill & Melinda Gates Foundation Trust (the “Trust”) may be deemed to be beneficially owned by William H. Gates III and Melinda French Gates as Co-Trustees of the Trust. (2) Based on 50,751,778 shares of Common Stock outstanding on December 31, 2023, as reported by the Issuer. CUSIP No. 00301W105 1. Names of Reporting Persons William H. Gates III 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Citizenship or Place of Organization United States of America Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power -0- 6. Shared Voting Power 2,815,225 (1) 7. Sole Dispositive Power -0- 8. Shared Dispositive Power 2,815,225 (1) 9. Aggregate Amount Beneficially Owned by Each Reporting Person 2,815,225 (1) 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 5.5% (2) 12. Type of Reporting Person (See Instructions) IN (1) The Trust beneficially owns 2,815,225 shares of Common Stock of the Issuer. For purposes of Rule 13d-3 under the Exchange Act, all Common Stock beneficially owned by the Trust may be deemed to be beneficially owned by William H. Gates III and Melinda French Gates as Co-Trustees of the Trust. (2) Based on 50,751,778 shares of Common Stock outstanding on December 31, 2023, as reported by the Issuer. CUSIP No. 00301W105 1. Names of Reporting Persons Melinda French Gates 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Citizenship or Place of Organization United States of America Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power -0- 6. Shared Voting Power 2,815,225 (1) 7. Sole Dispositive Power -0- 8. Shared Dispositive Power 2,815,225 (1) 9. Aggregate Amount Beneficially Owned by Each Reporting Person 2,815,225 (1) 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 5.5% (2) 12. Type of Reporting Person (See Instructions) IN (1) The Trust beneficially owns 2,815,225 shares of Common Stock of the Issuer. For purposes of Rule 13d-3 under the Exchange Act, all Common Stock beneficially owned by the Trust may be deemed to be beneficially owned by William H. Gates III and Melinda French Gates as Co-Trustees of the Trust. (2) Based on 50,751,778 shares of Common Stock outstanding on December 31, 2023, as reported by the Issuer. Item 1. (a) Name of Issuer: Aberdeen Emerging Markets Equity Income Fund, Inc. (the “Issuer”) (b) Address of Issuer’s Principal Executive Offices: 1900 Market Street, Suite 200 Phil

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