aberdeenetf73111nq.htm
 
 
UNITED STATES
 
 
SECURITIES AND EXCHANGE COMMISSION
 
 
Washington, D.C. 20549
 
 
FORM N-Q
 
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
 
 
MANAGEMENT INVESTMENT COMPANIES
 
Investment Company Act file number:
 
811-08076
   
Exact name of registrant as specified in charter:
 
Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc.
   
Address of principal executive offices:
 
c/o 1735 Market Street, 32nd Floor
Philadelphia, PA 19103
   
Name and address of agent for service:
 
Ms. Andrea Melia
Aberdeen Asset Management Inc.
c/o 1735 Market Street, 32nd Floor
Philadelphia, PA 19103
   
Registrant’s telephone number, including area code:
 
866-839-5205
   
Date of fiscal year end:
 
October 31
   
Date of reporting period:
 
7/31/11
 
 



Item 1: Schedule of Investments


Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc.
Portfolio of Investment
July 31, 2011 (unaudited)
 
 
 
No. of Shares
Description
Value
spacer
EQUITY SECURITIES-99.0%
TELECOMMUNICATION AND INFRASTRUCTURE COMPANIES IN EMERGING COUNTRIES-96.0%
 
ARGENTINA-2.0%
 
ENERGY EQUIPMENT & SERVICES-2.0%
 
79,000
    Tenaris S.A., ADR (cost $3,452,694)
$ 3,491,800 
     
 
ASIA-0.3%
 
VENTURE CAPITAL-0.3%
 
3,622,118(a)
    TVG Asian Communications Fund II, L.P.(b)(c)(d)(e)(f) (cost $812,636)
  517,691 
     
 
BRAZIL-6.6%
 
METALS & MINING-0.9%
 
123,000
    Usinas Siderúrgicas de Minas Gerais S.A.
  1,681,509 
   
 
OIL, GAS & CONSUMABLE FUELS-2.3%
 
228,000
    Ultrapar Participacoes S.A.
  4,072,610 
   
 
REAL ESTATE MANAGEMENT & DEVELOPMENT-1.9%
 
152,000
    Multiplan Empreendimentos Imobiliarios S.A.
  3,283,572 
   
 
TRANSPORTATION INFRASTRUCTURE-1.5%
 
149,000
    Wilson Sons Limited, BDR
  2,641,309 
   
 
    Total Brazil (cost $10,987,735)
  11,679,000 
 
 
CHILE-2.0%
 
DIVERSIFIED TELECOMMUNICATION SERVICES-1.1%
 
100,132
    Empresa Nacional de Telecomunicaciones S.A.
  2,024,527 
   
 
ELECTRIC UTILITIES-0.9%
 
3,600,000
    Enersis S.A.
  1,589,508 
   
 
    Total Chile (cost $2,785,922)
  3,614,035 
 
 
CHINA-7.6%
 
WIRELESS TELECOMMUNICATION SERVICES-7.6%
 
1,355,172
    China Mobile Limited(d) (cost $11,910,073)
  13,464,932 
     
 
HONG KONG-4.2%
 
MARINE-0.8%
 
2,500,000
    Pacific Basin Shipping Limited(d)
  1,369,990 
   
 
REAL ESTATE MANAGEMENT & DEVELOPMENT-3.4%
 
510,000
    Hang Lung Group Limited(d)
  3,068,141 
210,000
    Swire Pacific Limited(d)
  2,954,090 
   
  6,022,231 
   
 
    Total Hong Kong (cost $8,171,367)
  7,392,221 
 
 
INDIA-10.4%
 
CONSTRUCTION MATERIALS-1.8%
 
138,000
    Ultratech Cement Limited(d)
  3,213,565 
   
 
IT SERVICES-1.4%
 
38,000
    Infosys Technologies Limited(d)
  2,372,477 
   
 
WIRELESS TELECOMMUNICATION SERVICES-7.2%
 
1,289,920
    Bharti Airtel Limited(d)
  12,734,380 
   
 
    Total India (cost $16,573,428)
  18,320,422 
 
 
INDONESIA-5.5%
 
DIVERSIFIED TELECOMMUNICATION SERVICES-3.6%
 
7,334,954
    PT Telekomunikasi Indonesia Tbk(d)
 6,350,074 
   
 
WIRELESS TELECOMMUNICATION SERVICES-1.9%
 
5,206,356
    PT Indosat Tbk(d)
  3,327,914 
   
 
    Total Indonesia (cost $7,886,162)
  9,677,988 
 
 
KENYA-2.3%
 
WIRELESS TELECOMMUNICATION SERVICES-2.3%
 
106,089,400
    Safaricom Limited(d) (cost $5,804,768)
  4,131,455 
     
 
LATIN AMERICA-0.2%
 
VENTURE CAPITAL-0.2%
 
2,286,227(a)
    JP Morgan Latin America Capital Partners L.P.(b)(c)(d)(e)(f) (cost $666,719)
  279,285 
     
 
MALAYSIA-6.6%
 
CONSTRUCTION MATERIALS-1.0%
 
680,000
    Lafarge Malayan Cement Bhd(d)
  1,688,037 
   
 
WIRELESS TELECOMMUNICATION SERVICES-5.6%
 
980,000
    Digi.Com BHD(d)
  9,963,590 
   
 
    Total Malaysia (cost $7,746,788)
  11,651,627 
 
 
MEXICO-9.8%
 
TRANSPORTATION INFRASTRUCTURE-1.1%
 
114,000
    Grupo Aeroportuario del Centro Norte S.A.B. de C.V., ADR
  1,858,200 
   
 
WIRELESS TELECOMMUNICATION SERVICES-8.7%
 
596,996
    América Móvil S.A.B. de C.V., Series L, ADR
  15,402,497 
   
 
    Total Mexico (cost $6,850,393)
  17,260,697 
 
 
MOROCCO-3.3%
 
DIVERSIFIED TELECOMMUNICATION SERVICES-3.3%
 
332,000
    Maroc Telecom(d) (cost $5,999,978)
  5,822,654 
     
 
PHILIPPINES-1.6%
 
REAL ESTATE MANAGEMENT & DEVELOPMENT-1.6%
 
7,000,000
    Ayala Land, Inc.(d) (cost $2,563,586)
  2,797,023 
     
 
RUSSIA-4.9%
 
DIVERSIFIED TELECOMMUNICATION SERVICES-2.3%
 
328,759
    VimpelCom Limited, ADR
  4,076,612 
   
 
WIRELESS TELECOMMUNICATION SERVICES-2.6%
 
524,000
    Mobile Telesystems OJSC(e)
  4,637,400 
   
 
    Total Russia (cost $5,889,821)
  8,714,012 
 
 
SOUTH AFRICA-8.0%
 
WIRELESS TELECOMMUNICATION SERVICES-8.0%
 
647,791
    MTN Group Limited(d) (cost $9,497,278)
  14,017,152 
     
 
SOUTH KOREA-3.3%
 
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT-3.3%
 
10,800
    Samsung Electronics Co., Limited(d) (cost $5,590,769)
  5,755,838 
     
 
TAIWAN-8.9%
 
WIRELESS TELECOMMUNICATION SERVICES-8.9%
 
5,718,340
    Taiwan Mobile Co., Limited(d) (cost $9,048,795)
 15,717,386 
     
 
THAILAND-6.5%
 
CONSTRUCTION MATERIALS-1.5%
 
215,000
    Siam Cement PCL(d)
  2,751,553 
   
 
WIRELESS TELECOMMUNICATION SERVICES-5.0%
 
2,266,765
    Advanced Info Service Public Co., Limited
  8,792,993 
   
 
    Total Thailand (cost $8,555,028)
  11,544,546 
 
 
TURKEY-1.1%
 
INDUSTRIAL CONGLOMERATES-1.1%
 
694,318
    Enka Insaat ve Sanayi AS(d) (cost $2,427,213)
  1,890,943 
     
 
GLOBAL-0.9%
 
VENTURE CAPITAL-0.9%
 
 7,248,829(a)
    Emerging Markets Ventures l, L.P.(b)(c)(d)(e)(f)
  595,854 
2,400,000(a)
    Telesoft Partners II QP, L.P.(b)(c)(d)(e)
  926,592 
     
 
    Total Global (cost $4,005,168)
  1,522,446 
 
 
    Total Emerging Countries (cost $137,226,321)
  169,263,153 
   
TELECOMMUNICATION AND INFRASTRUCTURE COMPANIES IN DEVELOPED COUNTRIES-3.0%
 
ISRAEL-2.6%
 
 
SOFTWARE-1.3%
 
39,000
    Check Point Software Technologies Limited(c)
  2,248,350 
 
VENTURE CAPITAL-1.3%
 
1,674,587 (a)
    BPA Israel Ventures LLC(b)(c)(d)(e)(f)
  482,598 
4,000,000 (a)
    Concord Ventures Fund II, L.P.(b)(c)(d)(e)
  150,932 
2,750,000 (a)
    Giza GE Venture Fund III, L.P.(b)(c)(d)(e)
  551,292 
2,000,000 (a)
    K.T. Concord Venture Fund L.P.(b)(c)(d)(e)
  83,444 
708,684 (a)
    Neurone Ventures II, L.P.(b)(c)(d)(e)(f)
  122,050 
2,001,470 (a)
    SVE Star Ventures Enterprises GmbH & Co. No. IX KG(b)(c)(d)(e)
  423,111 
1,375,001(a)
    Walden-Israel Ventures III, L.P.(b)(c)(d)(e)
  468,738 
   
  2,282,165 
 
    Total Israel (cost $10,964,747)
  4,530,515 
 
UNITED STATES-0.4%
 
 
INTERNET SOFTWARE & SERVICES-0.3%
 
1,939
    NetFlix, Inc.(c)
  515,754 
 
VENTURE CAPITAL-0.1%
 
1,952,000(a)
    Technology Crossover Ventures IV, L.P.(b)(c)(d)(e)(f)
  220,625 
 
    Total United States (cost $927,634)
  736,379 
 
    Total Developed Countries (cost $11,892,381)
  5,266,894 
   
COMPANIES PROVIDING OTHER ESSENTIAL SERVICES IN EMERGING COUNTRIES-0.0%
 
ARGENTINA-0.0%
 
 
VENTURE CAPITAL-0.0%
 
1,897,761(a)
    Exxel Capital Partners V, L.P.(b)(c)(d)(e) (cost $380,481) 
  0 
     
 
 
    Total Equity Securities-99.0% (cost $149,499,183)
  174,530,047 
   
 
Principal
   
Amount (000's)
Description
Value
     
SHORT-TERM INVESTMENT-1.9%
 
GRAND CAYMAN-1.9%
 
$3,385
    Wells Fargo, overnight deposit, 0.03%, 08/01/11 (cost $3,385,000)
 $3,385,000 
     
 
    Total Investments-100.9% (cost $152,884,183)
  177,915,047 
 
 
    Liabilities in Excess of Cash and Other Assets-(0.9)%
  (1,603,812)
 
 
    Net Assets-100.0%
$ 176,311,235 
 


(a)           Represents contributed capital.
 
(b)           Restricted security, not readily marketable.
 
(c)           Non-income producing security.
 
(d)
Security was fair valued as of July 31, 2011. Security is valued at fair value as determined in good faith by, or under the direction of, the Board of Directors (the “Board”) under procedures established by the Board.
 
(e)           Illiquid Security.
 
(f)           As of July 31, 2011, the aggregate amount of open commitments for the Fund is $2,457,291.
 
ADR           American Depositary Receipts.
BDR           Brazilian Depositary Receipts.

 
Security Valuation - Securities for which market quotations are readily available are valued at current market value as of the “Valuation Time.” The Valuation Time is as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time). Equity securities are typically valued at the last quoted sale price. Effective January 1, 2011, if there is no sale price available, the last quoted mean price provided by an independent pricing service approved by the Board of Directors (the “Board”) is used. Prior to January 1, 2011, if there was no sale price, the last quoted bid price provided by an independent pricing service was used. Securities traded on NASDAQ are valued at the NASDAQ official closing price. Management has concluded there is no significant effect on the value of the portfolio due to change in methodology. Prices are taken from the primary market or exchange on which each security trades. Investment companies are valued at net asset value as reported by such company.

Most securities listed on a foreign exchange are valued either at fair value (see description below) or at the last sale price at the close of the exchange on which the security is principally traded. Foreign securities, currencies, and other assets and liabilities denominated in foreign currencies are translated into U.S. Dollars at the exchange rate of said currencies against the U.S. Dollar, as of the Valuation Time, as provided by an independent pricing service approved by the Board.
 
Debt and other fixed-income securities (other than short-term obligations) are valued at the last quoted bid price and/or by using a combination of daily quotes and matrix evaluations provided by an independent pricing service, the use of which has been approved by the Board. In the event such quotes are not available from such pricing agents, then the security may be priced based on bid quotations from broker-dealers. Short-term debt securities of sufficient credit quality, such as commercial paper and U.S. Treasury Bills having a remaining maturity of 60 days or less at the time of purchase, are valued at amortized cost, which approximates fair value.
 
Securities for which market quotations are not readily available, or for which an independent pricing service does not provide a value or provides a value that does not represent fair value in the judgment of the Fund’s investment adviser or designee, are valued at fair value under procedures approved by the Board. In addition, fair value determinations are required for securities whose value is affected by a “significant” event that materially affects the value of a domestic or foreign security which occurs subsequent to the time of the close of the principal market on which such domestic or foreign security trades and before the Valuation Time (i.e., a “subsequent event”). Typically, this will involve events occurring after the close of a foreign market on which a security trades and before the next Valuation Time.
 
The Fund’s equity securities that are traded on a foreign exchange or market which closes prior to the Fund’s Valuation Time are fair valued by an independent pricing service. The fair value of each such security generally is calculated by applying a valuation factor provided by the independent pricing service to the last sales price for that security. If the pricing service is unable to provide a fair value for a security, the security will continue to be valued at the last sale price at the close of the exchange on which it is principally traded, subject to adjustment by the Fund’s Pricing Committee. When the fair value prices are utilized, the value assigned to the foreign securities may not be quoted or published prices of the securities on their primary markets.
 
 
The Fund values restricted securities at fair value. The Fund’s estimate of fair value assumes a willing buyer and a willing seller neither acting under the compulsion to buy or sell. Although these securities may be resold in privately negotiated transactions, the prices realized on such sales could differ from the prices originally paid by the Fund or the current carrying values, and the difference could be material.
 
The Fund also invests in venture capital private placement securities, which are classified as Level 3 investments. In determining the fair value of these investments, management uses the market approach which includes as the primary input the capital balance reported; however adjustments to the reported capital balance may be made based on various factors, including, but not limited to, the attributes of the interest held, including the rights and obligations, and any restrictions or illiquidity of such interests, and the fair value of these venture capital investments.
 
 
For the period ended July 31, 2011, other than described above, there have been no significant changes to the valuation procedures approved by the Board.
 
Equity securities generally are valued at the last quoted sale price or official closing price reported on the exchange (US or foreign) or over-the-counter market on which they trade and are categorized as Level 1 securities. Securities for which no sales are reported are valued at the last quoted mean price provided by an independent pricing service. For international equity securities traded on a foreign exchange or market which closes prior to the Fund’s Valuation Time, in order to adjust for events which occur between the close of the foreign exchange they are traded on and the close of the New York Stock Exchange, a fair valuation model is used (as described above). This fair valuation model takes into account comparisons to the valuation of American Depository Receipts (ADRs), exchange-traded funds, futures contracts, and certain indices, and these securities are categorized as Level 2.
 

Restricted Securities - Certain of the Fund’s investments are restricted as to resale and are valued at fair value as determined in good faith by, or under the direction of, the Board under procedures established by the Board in the absence of readily ascertainable market values.
 
Security
Acquisition Date(s)
Cost
Fair Value
At 07/31/11
Percent of
Net Assets
Distributions
Received
Open
Commitments
BPA Israel Ventures LLC
10/05/00 - 12/09/05
  $1,160,483 
  $482,598 
0.27
  $97,293 
  $625,413 
Concord Ventures Fund II, L.P.
03/29/00 - 12/15/06
  2,370,238 
  150,932 
0.09
  931,294 
  – 
Emerging Markets Ventures l, L.P.
01/22/98 - 01/10/06
  2,719,587 
  595,854 
0.34
  7,200,920 
  851,171 
Exxel Capital Partners V, L.P.
05/11/98 - 12/03/98
  380,481 
  – 
  205,185 
  – 
Giza GE Venture Fund III, L.P.
01/31/00 - 11/23/06
  1,812,299 
  551,292 
0.31
  724,175 
  – 
JP Morgan Latin America Capital Partners L.P.
04/10/00 - 03/20/08
  666,719 
  279,285 
0.16
  2,290,424 
  502,325 
K.T. Concord Venture Fund L.P.
12/08/97 - 09/29/00
  1,260,856 
  83,444 
0.05
  1,320,492 
  – 
Neurone Ventures II, L.P.
11/24/00 - 02/24/09
  171,317 
  122,050 
0.07
  413,346 
  52,500 
SVE Star Ventures Enterprises GmbH & Co. No. IX KG
12/21/00 - 08/12/08
  1,624,685 
  423,111 
0.24
  380,279 
  – 
Technology Crossover Ventures IV, L.P.
03/08/00 - 09/27/10
  489,244 
  220,625 
0.13
  2,518,369 
  48,000 
Telesoft Partners II QP, L.P.
07/14/00 - 03/01/10
  1,285,581 
  926,592 
0.52
  1,109,561 
  – 
TVG Asian Communications Fund II, L.P.
06/07/00 - 10/27/05
  812,636 
  517,691 
0.29
  3,588,719 
  377,882 
Walden-Israel Ventures III, L.P.
02/23/01 - 10/20/10
  845,948 
  468,738 
0.27
  982,757 
  – 
Total
 
  $15,600,074 
  $4,822,212 
2.74
  $21,762,814 
  $2,457,291 
 

 
The Fund may incur certain costs in connection with the disposition of the above securities.
 
The Fund is required to disclose information regarding the fair value measurements of the Fund’s assets and liabilities. Fair value is defined as the price that the Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. The disclosure requirements utilize a three-tier hierarchy to maximize the use of observable market data, minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value including such a pricing model and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable.
 
Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability, which are based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.
 
The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.
 
· 
Level 1 – quoted prices in active markets for identical investments.
· 
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
· 
Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments, information provided by the General Partner or Investee Companies such as publicly traded prices, financial statements, capital statements.)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
 
The following is a summary of the inputs used as of July 31, 2011 in valuing the Fund's investments carried at value. Refer to the Portfolio of Investments for a detailed breakout of the security types: 
                 
Investments, at value
 
Level 1*
 
Level 2*
 
Level 3*
 
Balance as of 07/31/2011
Construction Materials
 
$ – 
 
$ 7,653,155 
 
$ – 
 
$ 7,653,155 
Diversified Telecommunication Services
 
  6,101,139 
 
  12,172,728 
 
  – 
 
  18,273,867 
Electric Utilities
 
  1,589,508 
 
  – 
 
  – 
 
  1,589,508 
Energy Equipment & Services
 
  3,491,800 
 
  – 
 
  – 
 
  3,491,800 
Industrial Conglomerates
 
  – 
 
  1,890,943 
 
  – 
 
  1,890,943 
Internet Software & Services
 
  515,754 
 
  – 
 
  – 
 
  515,754 
IT Services
 
  – 
 
  2,372,477 
 
  – 
 
  2,372,477 
Marine
 
  – 
 
  1,369,990 
 
  – 
 
  1,369,990 
Metals & Mining
 
  1,681,509 
 
  – 
 
  – 
 
  1,681,509 
Oil, Gas & Consumable Fuels
 
  4,072,610 
 
  – 
 
  – 
 
  4,072,610 
Real Estate Management & Development
 
  3,283,572 
 
  8,819,254 
 
  – 
 
  12,102,826 
Semiconductors & Semiconductor Equipment
 
  – 
 
  5,755,838 
 
  – 
 
  5,755,838 
Software
 
  2,248,350 
 
  – 
 
  – 
 
  2,248,350 
Transportation Infrastructure
 
  4,499,509 
 
  – 
 
  – 
 
  4,499,509 
Venture Capital
 
  – 
 
  – 
 
  4,822,212 
 
  4,822,212 
Wireless Telecommunication Services
 
  28,832,890 
 
  73,356,809 
 
  – 
 
  102,189,699 
Short-Term Investments
 
  – 
 
  3,385,000 
 
  – 
 
  3,385,000 
Total
 
$ 56,316,641 
 
$ 116,776,194 
 
$ 4,822,212 
 
$ 177,915,047 
 
* Mobil Telesystems OJSC with a fair value of $4,637,400 transferred from Level 2 to Level 1 during the period. During the period ended July 31, 2011, there were no significant changes to the fair value methodologies.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:
 
Investments, at value
Balance as of 10/31/2010
Accrued discounts/ premiums
Realized gain/(loss)
Change in unrealized appreciation/ (depreciation)
Purchases
Sales
Transfers into
 Level 3
Transfers out of Level 3
Balance as of 07/31/2011
Venture Capital
$6,354,637
$-
$-
$(1,056,045)
$22,500
$(498,880)
$-
$-
$4,822,212
Total
$6,354,637
$-
$-
$(1,056,045)
$22,500
$(498,880)
$-
$-
$4,822,212
 
Change in unrealized appreciation/depreciation relating to investments still held at July 31, 2011 is $(1,056,045).

Short-Term Investment - The Fund sweeps available cash into a short-term time deposit available through Brown Brothers Harriman & Co., (“BBH & Co.”) the Fund’s custodian. The short-term time deposit is a variable rate account classified as a short-term investment.
 
Federal Income Tax Cost - At July 31, 2011, the identified cost for federal income tax purposes, as well as the gross unrealized appreciation from investments for those securities having an excess of value over cost, gross unrealized depreciation from investments for those securities having an excess of cost over value and the net unrealized appreciation from investments were $152,884,183, $41,308,912, $(16,278,048) and $25,030,864, respectively.
 
Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is also available on the website of the Securities and Exchange Commission at www.sec.gov.
 
Subsequent Events- Management has evaluated the need for disclosures and/or adjustments resulting from subsequent events. Based on this evaluation, no disclosures or adjustments were required to the report as of July 31, 2011.
 





 
Item 2: Controls and Procedures
 
 
(a)  It is the conclusion of the Registrant’s principal executive officer and principal financial officer that the effectiveness of the Registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the filing) provide reasonable assurance that the information required to be disclosed by the Registrant has been recorded, processed, summarized and reported within the time period specified by the Commission’s rules and forms and that the information required to be disclosed by the Registrant has been accumulated and communicated to the Registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
 
(b)  There were no changes in the Registrant’s internal control over financial reporting that occurred during the fourth fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
 
Item 3: Exhibits
 
 
1. The certifications of the registrant as required by Rule 30a-2(a) under the Act are exhibits to this report.
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc.
 
 
By:   /s/ Christian Pittard
    Christian Pittard,
    President of
    Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc.
 
    Date: September 26, 2011
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the
dates indicated.
 
 
By:   /s/ Christian Pittard
    Christian Pittard,
    President of
    Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc.
 
    Date: September 26, 2011
 
 
By:   /s/ Andrea Melia
    Andrea Melia,
    Treasurer of
    Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc.
 
 
    Date: September 26, 2011
 
 
 
 
 
 
 
 



I, Christian Pittard, certify that:
 
1.
I have reviewed this report on Form N-Q of Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc.;
 
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.           Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
 
4.           The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
 
(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
(b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 (c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
 
 (d)
 
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
 
5.           The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
 
(a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
 
(b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 

Date:           September 26, 2011

/s/ Christian Pittard
Christian Pittard
President
 
 
 
 
 

 

I, Andrea Melia, certify that:
 
1.
I have reviewed this report on Form N-Q of Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc.;
 
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.           Based on my knowledge, the schedule of investments included in this report, fairly present in all material respects the investments of the registrant as of the end of  the fiscal quarter for which the report is filed;
 
4.           The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
 
(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
(b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
 
 (c)
 
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
 
5.           The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
 
(a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
 
(b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 

Date:           September 26, 2011

/s/ Andrea Melia
Andrea Melia
Treasurer