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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
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Updated Sept. 18, 1997 by bwwebmaster
Copyright 1997, by The McGraw-Hill Companies Inc. All rights reserved.
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