Closed-End Funds on Sale
Many closed-end funds trade for less than their net asset value (NAV). But a growing number have been turning themselves into open-ended funds that trade at or near NAV. That means savvy shareholders who bought into these funds at a discount have been reaping windfalls. Here are some closed-end funds that could open in coming months and are still trading under NAV: FUND DISCOUNT COMMENTS FROM NAV GT GLOBAL DEV. MKTS 8.0% VOTE TO OPEN SET FOR OCT. 21 LATIN AMERICA GROWTH 20.5 SAVVY SHAREHOLDERS PILGRIM AMERICA BANK & THRIFT 5.0 VOTE TO OPEN ON OCT. 16 SCUDDER SPAIN & PORTUGAL 16.0 VOTE FOR NEW ADVISER OCT. 21 TCW/DW EMERGING MKTS. 8.0 SCHEDULED TO OPEN IN 1998 TEMPLETON DRAGON 22.5 VOTE TO RESTRUCTURE SEPT. 23 TEMPLETON VIETNAM OPPORTUNITIES 11.0 PROS BET FUND WILL OPEN DATA: THOMAS J. HERZFELD ADVISORS, CDA/SPECTRUM
Updated Sept. 18, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.