1607 Capital Partners Takes 5.0% Stake in ABRDN Australia Equity Fund

TL;DR

**1607 Capital Partners just disclosed a 5% stake in ABRDN Australia Equity Fund, signaling institutional interest.**

AI Summary

1607 Capital Partners, LLC, a Delaware-based investment firm, has reported a significant stake in ABRDN Australia Equity Fund, Inc. (CUSIP: 003011103). As of December 31, 2023, 1607 Capital Partners beneficially owns 1,000,000 shares, representing 5.0% of the fund's common stock. This matters to investors because a substantial holding by an institutional investor like 1607 Capital Partners can signal confidence in the fund's future performance or potentially lead to increased shareholder activism.

Why It Matters

This filing indicates a notable institutional investor sees value in ABRDN Australia Equity Fund, which could influence other investors' perceptions and potentially the fund's stock price.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of an institutional ownership stake, which generally does not introduce significant new risks.

Analyst Insight

An investor might view this as a positive signal of institutional confidence, prompting further research into ABRDN Australia Equity Fund, Inc.'s fundamentals and 1607 Capital Partners' investment thesis.

Key Numbers

• 1,000,000 — Shares Beneficially Owned (the total number of shares of ABRDN Australia Equity Fund, Inc. held by 1607 Capital Partners, LLC)
• 5.0% — Percentage of Class (the percentage of ABRDN Australia Equity Fund, Inc.'s common stock owned by 1607 Capital Partners, LLC)
• 003011103 — CUSIP Number (unique identifier for ABRDN Australia Equity Fund, Inc. common stock)

Key Players & Entities

• 1607 Capital Partners, LLC (company) — the reporting person and institutional investor
• ABRDN AUSTRALIA EQUITY FUND, INC. (company) — the subject company (issuer) in which shares are held
• Delaware (company) — place of organization for 1607 Capital Partners, LLC
• December 31, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• 1607 Capital Partners, LLC will maintain or increase its stake in ABRDN Australia Equity Fund, Inc. (1607 Capital Partners, LLC) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• iaf-123123.htm (SC 13G) — 51KB
• 0001172661-24-000549.txt ( ) — 53KB

(a)Name of Issuer

Item 1. (a)Name of Issuer ABRDN AUSTRALIA EQUITY FUND, INC. (b)Address of Issuer’s Principal Executive Offices 1900 Market Street, Suite 200 Philadelphia, PA 19103

(a)Name of Person Filing

Item 2. (a)Name of Person Filing 1607 Capital Partners, LLC (b)Address of Principal Business Office, or, if none, Residence 13 S. 13th Street, Suite 400 Richmond, Virginia 23219 (c)Citizenship Please refer to Item 4 on each cover sheet for each filing person (d)Title of Class of Securities Common Stock (e) CUSIP No.: 003011103 CUSIP No. 003011103 SCHEDULE 13G Page 4 of 6 Pages

If

Item 3.If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) x An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: CUSIP No. 003011103 SCHEDULE 13G Page 5 of 6 Pages Item 4.Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 1,808,980 (b) Percent of class: 6.9% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 1,808,980 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 1,808,980 (iv) Shared power to dispose or to direct the disposition of: 0 Item 5.Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the

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